Stock Yards Bank & Trust Co. Sells 2,052 Shares of Stryker Co. (NYSE:SYK)

Stock Yards Bank & Trust Co. reduced its holdings in shares of Stryker Co. (NYSE:SYK - Free Report) by 2.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 88,046 shares of the medical technology company's stock after selling 2,052 shares during the quarter. Stock Yards Bank & Trust Co.'s holdings in Stryker were worth $31,808,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in SYK. Avestar Capital LLC boosted its holdings in Stryker by 1.1% during the 3rd quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company's stock worth $1,065,000 after acquiring an additional 31 shares during the last quarter. Patrick M Sweeney & Associates Inc. boosted its holdings in Stryker by 1.5% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company's stock worth $793,000 after purchasing an additional 32 shares during the last quarter. Stanley Laman Group Ltd. grew its position in Stryker by 4.6% in the 2nd quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company's stock worth $256,000 after purchasing an additional 33 shares in the last quarter. Plimoth Trust Co. LLC increased its stake in Stryker by 0.3% in the 2nd quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company's stock valued at $3,224,000 after buying an additional 33 shares during the last quarter. Finally, Grimes & Company Inc. lifted its position in shares of Stryker by 0.4% during the 3rd quarter. Grimes & Company Inc. now owns 8,239 shares of the medical technology company's stock worth $2,977,000 after buying an additional 33 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

SYK has been the subject of a number of research analyst reports. UBS Group increased their price target on Stryker from $366.00 to $370.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. Citigroup boosted their price target on shares of Stryker from $411.00 to $450.00 and gave the stock a "buy" rating in a report on Wednesday. Robert W. Baird raised their price objective on shares of Stryker from $378.00 to $405.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Morgan Stanley upgraded shares of Stryker from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Stryker from $375.00 to $420.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $404.35.

Insider Activity

In other news, VP M Kathryn Fink sold 2,121 shares of the company's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the transaction, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. This represents a 17.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kevin Lobo sold 57,313 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,781 shares of company stock worth $24,612,275. 5.90% of the stock is currently owned by insiders.

Stryker Price Performance

Shares of SYK stock traded down $1.10 during trading hours on Thursday, reaching $375.06. The stock had a trading volume of 845,665 shares, compared to its average volume of 1,260,068. The stock's fifty day simple moving average is $372.42 and its 200 day simple moving average is $354.51. The firm has a market capitalization of $142.98 billion, a PE ratio of 40.23, a PEG ratio of 2.89 and a beta of 0.94. Stryker Co. has a 12 month low of $285.79 and a 12 month high of $398.20. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period last year, the firm earned $2.46 EPS. The business's quarterly revenue was up 11.9% compared to the same quarter last year. On average, equities research analysts predict that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.84 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.90%. This is a boost from Stryker's previous quarterly dividend of $0.80. Stryker's dividend payout ratio (DPR) is presently 36.01%.

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.