Stryker Co. (NYSE:SYK) Shares Acquired by Independence Bank of Kentucky

Independence Bank of Kentucky grew its stake in Stryker Co. (NYSE:SYK) by 42.8% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,407 shares of the medical technology company’s stock after buying an additional 422 shares during the quarter. Independence Bank of Kentucky’s holdings in Stryker were worth $429,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. BlackRock Inc. raised its holdings in Stryker by 0.7% in the 1st quarter. BlackRock Inc. now owns 24,673,528 shares of the medical technology company’s stock worth $7,043,552,000 after purchasing an additional 178,460 shares during the period. Bank of New York Mellon Corp raised its holdings in Stryker by 1.5% in the 1st quarter. Bank of New York Mellon Corp now owns 6,683,415 shares of the medical technology company’s stock worth $1,907,914,000 after purchasing an additional 98,909 shares during the period. FMR LLC raised its holdings in Stryker by 50.5% in the 1st quarter. FMR LLC now owns 6,012,525 shares of the medical technology company’s stock worth $1,716,396,000 after purchasing an additional 2,017,006 shares during the period. Morgan Stanley raised its holdings in Stryker by 21.7% in the 4th quarter. Morgan Stanley now owns 5,978,782 shares of the medical technology company’s stock worth $1,461,753,000 after purchasing an additional 1,066,751 shares during the period. Finally, Geode Capital Management LLC raised its holdings in Stryker by 2.0% in the 1st quarter. Geode Capital Management LLC now owns 5,954,038 shares of the medical technology company’s stock worth $1,695,169,000 after purchasing an additional 117,786 shares during the period. Institutional investors and hedge funds own 76.24% of the company’s stock.

Stryker Trading Down 0.7 %

Shares of Stryker stock opened at $292.93 on Friday. The firm has a market capitalization of $111.25 billion, a price-to-earnings ratio of 41.37, a PEG ratio of 2.85 and a beta of 0.95. Stryker Co. has a fifty-two week low of $200.80 and a fifty-two week high of $306.93. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.84 and a current ratio of 1.54. The stock has a 50 day moving average of $286.93 and a 200 day moving average of $285.36.

Stryker (NYSE:SYK) last issued 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. The company had revenue of $5 billion during the quarter, compared to analyst estimates of $4.83 billion. Stryker had a return on equity of 22.31% and a net margin of 13.92%. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.25 earnings per share. As a group, research analysts predict that Stryker Co. will post 10.37 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be given a $0.75 dividend. The ex-dividend date is Thursday, September 28th. This represents a $3.00 annualized dividend and a yield of 1.02%. Stryker’s payout ratio is 42.37%.

Insider Buying and Selling

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 transaction, the insider now directly owns 6,994 shares in the company, valued at $2,021,266. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.90% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on SYK shares. Truist Financial upped their price target on Stryker from $300.00 to $310.00 in a report on Wednesday, July 19th. Morgan Stanley increased their target price on Stryker from $295.00 to $300.00 and gave the company an “equal weight” rating in a report on Monday, August 7th. StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a report on Friday, September 8th. Bank of America raised Stryker from a “neutral” rating to a “buy” rating and increased their target price for the company from $310.00 to $315.00 in a report on Tuesday, September 5th. Finally, BTIG Research increased their target price on Stryker from $313.00 to $331.00 in a report on Monday, July 17th. Six investment 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 a consensus rating of “Moderate Buy” and a consensus price target of $309.59.

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.