Stock Yards Bank & Trust Co. Sells 32,355 Shares of Stryker Corporation $SYK

Stock Yards Bank & Trust Co. lessened its position in Stryker Corporation (NYSE:SYK) by 39.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 49,186 shares of the medical technology company’s stock after selling 32,355 shares during the period. Stock Yards Bank & Trust Co.’s holdings in Stryker were worth $17,287,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Clayton Financial Group LLC acquired a new stake in shares of Stryker during the 3rd quarter worth about $26,000. Howard Hughes Medical Institute acquired a new stake in shares of Stryker during the 2nd quarter worth about $29,000. United Financial Planning Group LLC acquired a new stake in shares of Stryker during the 3rd quarter worth about $27,000. Strive Asset Management LLC acquired a new stake in shares of Stryker during the 3rd quarter worth about $30,000. Finally, ANTIPODES PARTNERS Ltd acquired a new stake in shares of Stryker during the 3rd quarter worth about $34,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Price Performance

Shares of Stryker stock opened at $332.40 on Tuesday. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66. Stryker Corporation has a twelve month low of $319.32 and a twelve month high of $404.87. The stock has a market capitalization of $127.30 billion, a price-to-earnings ratio of 39.57, a price-to-earnings-growth ratio of 1.94 and a beta of 0.92. The company has a 50-day simple moving average of $356.60 and a two-hundred day simple moving average of $361.44.

Stryker (NYSE:SYK) last released its earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, beating the consensus estimate of $4.40 by $0.07. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The firm had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.12 billion. During the same period last year, the firm earned $4.01 EPS. The business’s quarterly revenue was up 11.4% compared to the same quarter last year. Analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Stryker’s dividend payout ratio (DPR) is currently 41.90%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total value of $90,730,000.00. Following the transaction, the director directly owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. This trade represents a 9.23% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SYK. Piper Sandler restated an “overweight” rating on shares of Stryker in a research note on Tuesday, January 27th. The Goldman Sachs Group set a $399.00 price objective on shares of Stryker in a research note on Friday, January 9th. Robert W. Baird set a $437.00 price objective on shares of Stryker in a research note on Friday, January 30th. Barclays reiterated an “overweight” rating and issued a $469.00 price objective on shares of Stryker in a research note on Monday, February 2nd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Stryker in a research note on Monday, December 22nd. Fourteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $427.50.

Stryker Company Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.