Trust Co. of Toledo NA OH Lowers Holdings in Stryker Co. (NYSE:SYK)

Trust Co. of Toledo NA OH decreased its stake in Stryker Co. (NYSE:SYK) by 2.6% during the second quarter, Holdings Channel.com reports. The institutional investor owned 1,324 shares of the medical technology company’s stock after selling 35 shares during the quarter. Trust Co. of Toledo NA OH’s holdings in Stryker were worth $404,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Freedom Wealth Alliance LLC purchased a new position in shares of Stryker in the fourth quarter valued at about $26,000. Quarry LP bought a new stake in Stryker during the first quarter worth about $27,000. Elequin Securities LLC bought a new stake in Stryker during the fourth quarter worth about $29,000. ST Germain D J Co. Inc. boosted its stake in 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 acquiring an additional 127 shares in the last quarter. Finally, Altshuler Shaham Ltd bought a new position in shares of Stryker in the first quarter worth approximately $33,000. Institutional investors own 76.24% of the company’s stock.

Insider Buying and Selling

In related news, insider Viju Menon sold 5,000 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $289.00, for a total transaction of $1,445,000.00. Following the completion of the transaction, the insider now owns 6,994 shares in the company, valued at $2,021,266. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 5.90% of the stock is owned by company insiders.

Stryker Stock Performance

Shares of NYSE SYK opened at $292.93 on Friday. The firm has a fifty day moving average price of $286.93 and a 200-day moving average price of $285.36. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.54 and a quick ratio of 0.84. The stock has a market cap of $111.25 billion, a PE ratio of 41.37, a price-to-earnings-growth ratio of 2.85 and a beta of 0.95. Stryker Co. has a 1 year low of $200.80 and a 1 year high of $306.93.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, August 3rd. The medical technology company reported $2.54 earnings per share for the quarter, topping 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 firm had revenue of $5 billion during the quarter, compared to analyst estimates of $4.83 billion. During the same quarter in the prior year, the business earned $2.25 earnings per share. Stryker’s revenue for the quarter was up 11.2% on a year-over-year basis. Equities analysts anticipate that Stryker Co. will post 10.37 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently announced 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 of this dividend is Thursday, September 28th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.02%. Stryker’s dividend payout ratio is 42.37%.

Analyst Ratings Changes

SYK has been the topic of several analyst reports. StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research note on Friday, September 8th. Barclays boosted their price objective on shares of Stryker from $321.00 to $335.00 and gave the company an “overweight” rating in a report on Monday, August 7th. Argus boosted their price objective on shares of Stryker from $285.00 to $310.00 in a report on Thursday, May 25th. Truist Financial boosted their price objective on shares of Stryker from $300.00 to $310.00 in a report on Wednesday, July 19th. Finally, BTIG Research boosted their price objective on shares of 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 assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average 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.