Peapack Gladstone Financial Corp Trims Position in Stryker Co. (NYSE:SYK)

Peapack Gladstone Financial Corp lowered its holdings in Stryker Co. (NYSE:SYK - Free Report) by 6.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 71,985 shares of the medical technology company's stock after selling 4,677 shares during the period. Peapack Gladstone Financial Corp's holdings in Stryker were worth $26,005,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SYK. Dunhill Financial LLC grew its holdings in Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company's stock worth $27,000 after acquiring an additional 37 shares in the last quarter. Centennial Bank AR grew its holdings in Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company's stock worth $32,000 after acquiring an additional 48 shares in the last quarter. Darwin Wealth Management LLC acquired a new position in shares of Stryker in the 3rd quarter valued at $36,000. HBW Advisory Services LLC acquired a new position in shares of Stryker in the 3rd quarter valued at $42,000. Finally, Hara Capital LLC acquired a new position in shares of Stryker in the 3rd quarter valued at $42,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Insider Buying and Selling at Stryker

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the sale, the vice president now owns 10,042 shares in the company, valued at approximately $3,685,213.16. This represents a 42.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on SYK. Piper Sandler restated an "overweight" rating and issued a $420.00 target price (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. StockNews.com upgraded shares of Stryker from a "hold" rating to a "buy" rating in a report on Wednesday. Truist Financial upped their target price on shares of Stryker from $370.00 to $380.00 and gave the company a "hold" rating in a report on Wednesday, October 30th. BTIG Research lifted their target price on shares of Stryker from $383.00 to $394.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Finally, Evercore ISI upped their price target on shares of Stryker from $380.00 to $384.00 and gave the company an "outperform" rating in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $404.35.

Stryker Price Performance

Shares of SYK traded down $0.46 on Friday, reaching $374.60. The stock had a trading volume of 747,044 shares, compared to its average volume of 1,257,915. The firm has a market capitalization of $142.81 billion, a PE ratio of 40.19, a PEG ratio of 2.84 and a beta of 0.94. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The firm has a 50-day moving average of $372.88 and a 200 day moving average of $354.65. Stryker Co. has a twelve month low of $285.79 and a twelve month high of $398.20.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping analysts' consensus estimates of $2.77 by $0.10. The business had revenue of $5.49 billion for the quarter, compared to analysts' expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company's revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.46 EPS. Sell-side analysts expect that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date is Tuesday, December 31st. This is a boost from Stryker's previous quarterly dividend of $0.80. Stryker's dividend payout ratio is 34.30%.

Stryker Company Profile

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.