Canandaigua National Bank & Trust Co. Acquires 104 Shares of Stryker Co. (NYSE:SYK)

Canandaigua National Bank & Trust Co. lifted its holdings in Stryker Co. (NYSE:SYK) by 1.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 7,497 shares of the medical technology company’s stock after purchasing an additional 104 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Stryker were worth $2,287,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Freedom Wealth Alliance LLC acquired a new position in shares of Stryker in the fourth quarter valued at approximately $26,000. Quarry LP bought a new position in Stryker during the 1st quarter worth about $27,000. Elequin Securities LLC acquired a new stake in shares of Stryker in the 4th quarter valued at about $29,000. ST Germain D J Co. Inc. grew its holdings in shares of Stryker by 6.6% during the fourth quarter. ST Germain D J Co. Inc. now owns 2,065 shares of the medical technology company’s stock worth $32,000 after buying an additional 127 shares in the last quarter. Finally, Altshuler Shaham Ltd acquired a new stake in Stryker in the 1st quarter valued at approximately $33,000. 76.24% of the stock is owned by institutional investors.

Insider Activity

In other Stryker news, insider Viju Menon sold 5,000 shares of the company’s stock in a transaction 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 completion of the sale, the insider now directly owns 6,994 shares in the company, valued at $2,021,266. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.90% of the company’s stock.

Stryker Stock Up 0.9 %

Shares of SYK opened at $297.32 on Thursday. The firm has a market cap of $112.92 billion, a P/E ratio of 41.99, a price-to-earnings-growth ratio of 2.79 and a beta of 0.95. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.84 and a current ratio of 1.54. Stryker Co. has a 52 week low of $200.80 and a 52 week high of $306.93. The firm’s 50-day simple moving average is $286.94 and its 200 day simple moving average is $285.29.

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

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be paid a dividend of $0.75 per share. The ex-dividend date is Thursday, September 28th. This represents a $3.00 dividend on an annualized basis and a yield of 1.01%. Stryker’s payout ratio is 42.37%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. StockNews.com cut shares of Stryker from a “buy” rating to a “hold” rating in a research note on Friday, September 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $325.00 price target on shares of Stryker in a research note on Thursday, August 17th. Bank of America upgraded shares of Stryker from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $310.00 to $315.00 in a research note on Tuesday, September 5th. Morgan Stanley lifted their target price on Stryker from $295.00 to $300.00 and gave the company an “equal weight” rating in a research report on Monday, August 7th. Finally, BTIG Research increased their price target on Stryker from $313.00 to $331.00 in a research report on Monday, July 17th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and a consensus target price of $309.59.

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 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.