Peapack Gladstone Financial Corp Sells 702 Shares of Stryker Co. (NYSE:SYK)

Peapack Gladstone Financial Corp lessened its holdings in Stryker Co. (NYSE:SYK) by 1.0% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 71,283 shares of the medical technology company’s stock after selling 702 shares during the period. Peapack Gladstone Financial Corp’s holdings in Stryker were worth $25,665,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of SYK. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Stryker during the 4th quarter valued at about $25,000. Dunhill Financial LLC increased its stake in Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 37 shares during the last quarter. Rakuten Securities Inc. raised its position in Stryker by 618.2% during the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock valued at $28,000 after purchasing an additional 68 shares during the period. Centricity Wealth Management LLC bought a new stake in shares of Stryker in the 4th quarter valued at approximately $30,000. Finally, BankPlus Trust Department purchased a new position in shares of Stryker in the 4th quarter worth approximately $33,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on SYK shares. Stifel Nicolaus raised their price target on Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Royal Bank of Canada raised their target price on shares of Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. JMP Securities reissued a “market perform” rating on shares of Stryker in a research report on Tuesday, February 18th. Wells Fargo & Company boosted their target price on Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $421.90.

Insider Activity at Stryker

In other Stryker news, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the transaction, the director now owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the sale, the director now directly owns 3,642,075 shares in the company, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by insiders.

Stryker Stock Performance

Shares of Stryker stock opened at $346.14 on Friday. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The company has a market capitalization of $132.12 billion, a PE ratio of 44.61, a P/E/G ratio of 2.93 and a beta of 0.95. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The company has a 50-day simple moving average of $381.69 and a two-hundred day simple moving average of $374.30.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period in the prior year, the business earned $3.46 earnings per share. Research analysts expect that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.84 per share. The ex-dividend date is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.97%. Stryker’s payout ratio is 43.30%.

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.