Stryker Co. (NYSE:SYK) Shares Sold by Stock Yards Bank & Trust Co.

Stock Yards Bank & Trust Co. reduced its stake in Stryker Co. (NYSE:SYK - Free Report) by 1.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 84,611 shares of the medical technology company's stock after selling 817 shares during the period. Stock Yards Bank & Trust Co.'s holdings in Stryker were worth $31,497,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. J. W. Coons Advisors LLC raised its stake in shares of Stryker by 0.7% in the fourth quarter. J. W. Coons Advisors LLC now owns 3,653 shares of the medical technology company's stock valued at $1,315,000 after acquiring an additional 26 shares in the last quarter. Mascoma Wealth Management LLC raised its stake in shares of Stryker by 22.7% in the fourth quarter. Mascoma Wealth Management LLC now owns 146 shares of the medical technology company's stock valued at $53,000 after acquiring an additional 27 shares in the last quarter. Lindbrook Capital LLC raised its stake in shares of Stryker by 2.0% in the fourth quarter. Lindbrook Capital LLC now owns 1,407 shares of the medical technology company's stock valued at $507,000 after acquiring an additional 28 shares in the last quarter. JFS Wealth Advisors LLC raised its stake in shares of Stryker by 4.4% in the fourth quarter. JFS Wealth Advisors LLC now owns 687 shares of the medical technology company's stock valued at $247,000 after acquiring an additional 29 shares in the last quarter. Finally, Capital & Planning LLC raised its stake in shares of Stryker by 3.6% in the fourth quarter. Capital & Planning LLC now owns 841 shares of the medical technology company's stock valued at $304,000 after acquiring an additional 29 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

Stryker Stock Performance

Shares of NYSE SYK traded down $3.48 during midday trading on Friday, reaching $377.01. 876,021 shares of the company were exchanged, compared to its average volume of 1,330,549. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The stock has a fifty day simple moving average of $372.73 and a 200 day simple moving average of $375.83. The stock has a market cap of $143.90 billion, a P/E ratio of 48.58, a PEG ratio of 2.93 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating 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 company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. During the same quarter in the previous year, the company earned $2.50 EPS. The firm's revenue for the quarter was up 11.9% compared to the same quarter last year. On average, research analysts forecast that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a dividend of $0.84 per share. The ex-dividend date is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.89%. Stryker's payout ratio is 45.41%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SYK. Citigroup restated a "buy" rating and issued a $455.00 price target (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. JMP Securities restated a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Truist Financial raised their price target on Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a research note on Monday, May 5th. BTIG Research set a $403.00 price target on Stryker and gave the company a "buy" rating in a research note on Monday, April 14th. Finally, Sanford C. Bernstein set a $450.00 price target on Stryker in a research note on Monday, May 5th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Stryker has a consensus rating of "Moderate Buy" and a consensus target price of $427.30.

Stryker 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.