CNB Bank Decreases Stake in Stryker Co. (NYSE:SYK)

CNB Bank lessened its stake in Stryker Co. (NYSE:SYK) by 4.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,850 shares of the medical technology company’s stock after selling 91 shares during the quarter. CNB Bank’s holdings in Stryker were worth $668,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Koshinski Asset Management Inc. acquired a new stake in shares of Stryker during the 1st quarter valued at approximately $795,000. Envestnet Portfolio Solutions Inc. raised its holdings in Stryker by 43.1% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock worth $6,617,000 after purchasing an additional 5,565 shares during the last quarter. Norden Group LLC purchased a new stake in Stryker during the first quarter worth $4,027,000. BI Asset Management Fondsmaeglerselskab A S grew its holdings in Stryker by 38.5% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock valued at $7,084,000 after purchasing an additional 5,502 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Stryker by 78.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock valued at $45,260,000 after buying an additional 58,673 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on SYK. Evercore ISI boosted their price objective on shares of Stryker from $365.00 to $380.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. BTIG Research increased their price target on shares of Stryker from $374.00 to $383.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Needham & Company LLC raised their price objective on shares of Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. UBS Group upped their target price on Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Stifel Nicolaus dropped their price target on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $381.16.

Insider Activity

In related news, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the sale, the director now directly owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction that occurred on 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 owns 10,042 shares in the company, valued at $3,715,540. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the sale, the director now owns 3,316,608 shares in the company, valued at $1,072,790,023.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 220,068 shares of company stock valued at $71,811,372. Company insiders own 5.90% of the company’s stock.

Stryker Trading Up 2.7 %

Shares of SYK opened at $369.56 on Friday. The stock’s fifty day simple moving average is $355.79 and its 200 day simple moving average is $343.26. Stryker Co. has a twelve month low of $255.22 and a twelve month high of $374.63. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $140.78 billion, a P/E ratio of 42.19, a price-to-earnings-growth ratio of 2.85 and a beta of 0.91.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the business posted $2.54 EPS. On average, equities research analysts forecast that Stryker Co. will post 12 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.87%. The ex-dividend date is Monday, September 30th. Stryker’s payout ratio is currently 36.53%.

About Stryker

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.