Fulton Bank N.A. Has $2.47 Million Stake in Stryker Co. (NYSE:SYK)

Fulton Bank N.A. cut its stake in shares of Stryker Co. (NYSE:SYK - Free Report) by 13.1% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,625 shares of the medical technology company's stock after selling 998 shares during the period. Fulton Bank N.A.'s holdings in Stryker were worth $2,466,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. ST Germain D J Co. Inc. raised its position in Stryker by 2.1% during the first quarter. ST Germain D J Co. Inc. now owns 2,412 shares of the medical technology company's stock valued at $898,000 after buying an additional 50 shares during the period. Merit Financial Group LLC grew its stake in Stryker by 13.9% in the first quarter. Merit Financial Group LLC now owns 10,094 shares of the medical technology company's stock valued at $3,757,000 after purchasing an additional 1,232 shares in the last quarter. Harbor Investment Advisory LLC grew its stake in Stryker by 16.8% in the first quarter. Harbor Investment Advisory LLC now owns 7,819 shares of the medical technology company's stock valued at $2,911,000 after purchasing an additional 1,126 shares in the last quarter. NBC Securities Inc. grew its stake in Stryker by 109,777.8% in the first quarter. NBC Securities Inc. now owns 9,889 shares of the medical technology company's stock valued at $3,681,000 after purchasing an additional 9,880 shares in the last quarter. Finally, American National Bank & Trust grew its stake in Stryker by 3.4% in the first quarter. American National Bank & Trust now owns 36,311 shares of the medical technology company's stock valued at $13,517,000 after purchasing an additional 1,183 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the transaction, the director now directly owns 3,417,326 shares of the company's stock, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 5.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

SYK has been the topic of a number of recent research reports. Barclays boosted their target price on Stryker from $418.00 to $443.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. BTIG Research set a $403.00 price target on Stryker and gave the stock a "buy" rating in a research note on Monday, April 14th. Sanford C. Bernstein set a $450.00 price target on Stryker in a research note on Monday, May 5th. Truist Financial upped their price target on Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research note on Monday, May 5th. Finally, Roth Mkm upped their price target on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $427.30.

Stryker Stock Performance

Stryker stock traded up $1.86 during trading hours on Wednesday, hitting $382.87. The stock had a trading volume of 838,108 shares, compared to its average volume of 1,335,074. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average of $369.31 and a two-hundred day moving average of $376.06. The company has a market cap of $146.14 billion, a PE ratio of 49.34, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93.

Stryker (NYSE:SYK - Get Free Report) last issued its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.73 by $0.11. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The business had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.68 billion. During the same period in the prior year, the firm posted $2.50 EPS. Stryker's quarterly revenue was up 11.9% compared to the same quarter last year. On average, equities research analysts anticipate that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a $0.84 dividend. The ex-dividend date is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.88%. Stryker's payout ratio is presently 45.41%.

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.