Heartland Bank & Trust Co Reduces Holdings in Stryker Co. (NYSE:SYK)

Heartland Bank & Trust Co trimmed its position in shares of Stryker Co. (NYSE:SYK) by 3.3% in the 3rd quarter, Holdings Channel reports. The firm owned 2,065 shares of the medical technology company’s stock after selling 70 shares during the period. Heartland Bank & Trust Co’s holdings in Stryker were worth $746,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in SYK. JPMorgan Chase & Co. increased its position in shares of Stryker by 10.4% during the first quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock worth $3,096,078,000 after purchasing an additional 813,311 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in Stryker by 146.9% during the first quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock worth $314,449,000 after buying an additional 522,817 shares during the last quarter. American Century Companies Inc. boosted its stake in Stryker by 287.6% during the second quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock worth $172,033,000 after buying an additional 375,166 shares during the last quarter. Vanguard Group Inc. boosted its stake in Stryker by 1.0% during the first quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock worth $11,258,373,000 after buying an additional 309,592 shares during the last quarter. Finally, SG Americas Securities LLC boosted its stake in Stryker by 258.7% during the first quarter. SG Americas Securities LLC now owns 329,020 shares of the medical technology company’s stock worth $117,746,000 after buying an additional 237,298 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on SYK shares. Wolfe Research started coverage on Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price target on the stock. UBS Group upped their price target on Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Stifel Nicolaus decreased their price target on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Morgan Stanley upped their price target on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $380.00 price target on shares of Stryker in a research note on Tuesday, September 10th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $381.16.

Stryker Price Performance

Shares of NYSE SYK opened at $363.24 on Thursday. The stock’s 50-day moving average is $357.99 and its two-hundred day moving average is $343.59. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. Stryker Co. has a 1-year low of $255.22 and a 1-year high of $374.63. The company has a market cap of $138.42 billion, a price-to-earnings ratio of 40.49, a price-to-earnings-growth ratio of 2.83 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, beating analysts’ consensus estimates of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the prior year, the business posted $2.54 EPS. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. Analysts forecast that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Dividend Announcement

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 issued a $0.80 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.88%. Stryker’s payout ratio is currently 35.67%.

Insider Activity

In other news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,685,213.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,685,213.16. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Viju Menon sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now owns 9,069 shares in the company, valued at $3,219,495. 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 worth $71,811,372. 5.90% of the stock is currently owned by insiders.

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.