Park National Corp OH Sells 6,262 Shares of Stryker Co. (NYSE:SYK)

Park National Corp OH lowered its stake in shares of Stryker Co. (NYSE:SYK) by 11.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,864 shares of the medical technology company’s stock after selling 6,262 shares during the quarter. Park National Corp OH’s holdings in Stryker were worth $15,518,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Fairfield Bush & CO. acquired a new stake in Stryker during the first quarter worth about $131,000. Dimensional Fund Advisors LP lifted its holdings in Stryker by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 673,924 shares of the medical technology company’s stock valued at $180,182,000 after purchasing an additional 9,026 shares during the last quarter. Prudential PLC acquired a new position in shares of Stryker in the 1st quarter worth approximately $1,444,000. Sequoia Financial Advisors LLC boosted its stake in Stryker by 21.6% in the first quarter. Sequoia Financial Advisors LLC now owns 3,056 shares of the medical technology company’s stock worth $817,000 after purchasing an additional 543 shares in the last quarter. Finally, Zions Bancorporation N.A. lifted its position in Stryker by 9.2% during the 1st quarter. Zions Bancorporation N.A. now owns 3,140 shares of the medical technology company’s stock worth $839,000 after buying an additional 265 shares in the last quarter. 76.24% of the stock is currently owned by institutional investors and hedge funds.

Stryker Trading Up 0.6 %

NYSE:SYK opened at $299.17 on Thursday. The company has a quick ratio of 0.84, a current ratio of 1.54 and a debt-to-equity ratio of 0.64. Stryker Co. has a twelve month low of $200.80 and a twelve month high of $306.93. The company has a market cap of $113.62 billion, a P/E ratio of 41.99, a price-to-earnings-growth ratio of 2.79 and a beta of 0.95. The business has a 50 day moving average price of $286.94 and a two-hundred day moving average price of $285.29.

Stryker (NYSE:SYK) last released its earnings results on Thursday, August 3rd. The medical technology company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.38 by $0.16. Stryker had a net margin of 13.92% and a return on equity of 22.31%. The business had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.83 billion. During the same quarter last year, the firm earned $2.25 earnings per share. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. As a group, analysts expect that Stryker Co. will post 10.37 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be given a dividend of $0.75 per share. The ex-dividend date is Thursday, September 28th. This represents a $3.00 annualized dividend and a yield of 1.00%. Stryker’s dividend payout ratio (DPR) is presently 42.37%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $325.00 price objective on shares of Stryker in a research report on Thursday, August 17th. BTIG Research lifted their price objective on Stryker from $313.00 to $331.00 in a research note on Monday, July 17th. Morgan Stanley increased their target price on Stryker from $295.00 to $300.00 and gave the company an “equal weight” rating in a research note on Monday, August 7th. Argus raised their target price on Stryker from $285.00 to $310.00 in a report on Thursday, May 25th. Finally, StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a research note on Friday, September 8th. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $309.59.

Insider Buying and Selling at Stryker

In other news, insider Viju Menon sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $289.00, for a total transaction of $1,445,000.00. Following the sale, the insider now owns 6,994 shares in the company, valued at approximately $2,021,266. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 5.90% of the company’s stock.

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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.