Stryker Co. (NYSE:SYK) Position Boosted by Mechanics Bank Trust Department

Mechanics Bank Trust Department boosted its position in Stryker Co. (NYSE:SYK) by 5.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,563 shares of the medical technology company’s stock after purchasing an additional 359 shares during the period. Mechanics Bank Trust Department’s holdings in Stryker were worth $2,732,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in SYK. Novak & Powell Financial Services Inc. acquired a new stake in Stryker in the fourth quarter worth approximately $299,000. Chicago Partners Investment Group LLC lifted its position in Stryker by 12.0% in the fourth quarter. Chicago Partners Investment Group LLC now owns 2,447 shares of the medical technology company’s stock worth $753,000 after purchasing an additional 263 shares during the period. Virtu Financial LLC acquired a new stake in Stryker in the fourth quarter worth approximately $748,000. Integrated Advisors Network LLC lifted its position in shares of Stryker by 10.6% during the 4th quarter. Integrated Advisors Network LLC now owns 3,342 shares of the medical technology company’s stock valued at $1,001,000 after acquiring an additional 321 shares during the last quarter. Finally, Centaurus Financial Inc. lifted its position in shares of Stryker by 10.9% during the 4th quarter. Centaurus Financial Inc. now owns 878 shares of the medical technology company’s stock valued at $263,000 after acquiring an additional 86 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on SYK shares. Barclays increased their price objective on Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Evercore ISI increased their price objective on Stryker from $365.00 to $380.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Piper Sandler reiterated an “overweight” rating and set a $380.00 price objective on shares of Stryker in a research report on Tuesday, September 10th. Stifel Nicolaus cut their price objective on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Finally, Morgan Stanley increased their target price on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $379.37.

Insiders Place Their Bets

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,715,540. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction dated 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 sale, the director now directly owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 220,068 shares of company stock valued at $71,811,372 over the last three months. 5.90% of the stock is currently owned by insiders.

Stryker Trading Up 0.6 %

NYSE SYK opened at $355.60 on Friday. Stryker Co. has a 1-year low of $249.98 and a 1-year 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 company has a market capitalization of $135.47 billion, a PE ratio of 40.59, a price-to-earnings-growth ratio of 2.73 and a beta of 0.91. The firm’s fifty day simple moving average is $351.84 and its 200-day simple moving average is $343.05.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, topping the consensus estimate of $2.79 by $0.02. The firm had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.54 earnings per share. As a group, sell-side analysts anticipate that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.90%. The ex-dividend date is Monday, September 30th. Stryker’s payout ratio is 36.53%.

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.