Hilltop National Bank Decreases Stock Holdings in Stryker Co. (NYSE:SYK)

Hilltop National Bank lowered its stake in shares of Stryker Co. (NYSE:SYK) by 13.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,257 shares of the medical technology company’s stock after selling 198 shares during the period. Hilltop National Bank’s holdings in Stryker were worth $453,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Parnassus Investments LLC purchased a new position in shares of Stryker during the third quarter valued at approximately $762,798,000. Baltimore Washington Financial Advisors Inc. increased its position in Stryker by 2.4% during the third quarter. Baltimore Washington Financial Advisors Inc. now owns 66,681 shares of the medical technology company’s stock worth $24,089,000 after purchasing an additional 1,554 shares during the last quarter. Sivik Global Healthcare LLC grew its holdings in Stryker by 8.0% during the 3rd quarter. Sivik Global Healthcare LLC now owns 27,000 shares of the medical technology company’s stock valued at $9,754,000 after purchasing an additional 2,000 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Stryker by 2.7% during the 2nd quarter. Envestnet Asset Management Inc. now owns 618,041 shares of the medical technology company’s stock valued at $210,289,000 after purchasing an additional 16,504 shares in the last quarter. Finally, World Investment Advisors LLC grew its holdings in Stryker by 126.1% during the 3rd quarter. World Investment Advisors LLC now owns 8,142 shares of the medical technology company’s stock valued at $2,941,000 after purchasing an additional 4,541 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of Stryker stock traded up $0.98 during trading hours on Friday, reaching $365.08. The company’s stock had a trading volume of 423,698 shares, compared to its average volume of 1,128,857. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. Stryker Co. has a one year low of $306.10 and a one year high of $398.20. The company’s 50 day simple moving average is $375.42 and its 200 day simple moving average is $357.51. The stock has a market cap of $139.17 billion, a P/E ratio of 39.13, a price-to-earnings-growth ratio of 2.82 and a beta of 0.95.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter last year, the company earned $2.46 EPS. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, analysts expect that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.84 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.92%. This is a boost from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio is currently 36.01%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Canaccord Genuity Group raised their price target on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Piper Sandler reaffirmed an “overweight” rating and set a $420.00 price target (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. Needham & Company LLC reiterated a “buy” rating and set a $442.00 price objective on shares of Stryker in a research note on Tuesday. Finally, JMP Securities reiterated a “market perform” rating on shares of Stryker in a research note on Tuesday. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, Stryker has a consensus rating of “Moderate Buy” and an average price target of $405.80.

Insider Transactions at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 5.50% of the company’s stock.

Stryker Company 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 total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.