STAR Financial Bank Reduces Holdings in Stryker Co. (NYSE:SYK)

STAR Financial Bank reduced its position in Stryker Co. (NYSE:SYK) by 18.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 888 shares of the medical technology company’s stock after selling 205 shares during the period. STAR Financial Bank’s holdings in Stryker were worth $321,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in SYK. Bessemer Group Inc. raised its position in Stryker by 100.4% in the 1st quarter. Bessemer Group Inc. now owns 18,267 shares of the medical technology company’s stock valued at $6,538,000 after purchasing an additional 9,150 shares during the last quarter. CreativeOne Wealth LLC increased its position in Stryker by 55.7% in the 1st quarter. CreativeOne Wealth LLC now owns 1,924 shares of the medical technology company’s stock valued at $688,000 after acquiring an additional 688 shares during the period. Axxcess Wealth Management LLC raised its stake in Stryker by 2.9% during the 1st quarter. Axxcess Wealth Management LLC now owns 5,074 shares of the medical technology company’s stock valued at $1,816,000 after acquiring an additional 143 shares during the last quarter. Advisors Asset Management Inc. lifted its position in Stryker by 14.7% during the 1st quarter. Advisors Asset Management Inc. now owns 25,943 shares of the medical technology company’s stock worth $9,284,000 after acquiring an additional 3,321 shares during the period. Finally, Canada Pension Plan Investment Board increased its holdings in shares of Stryker by 19.4% in the first quarter. Canada Pension Plan Investment Board now owns 458,277 shares of the medical technology company’s stock valued at $164,004,000 after purchasing an additional 74,471 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

SYK has been the topic of a number of analyst reports. Truist Financial lifted their price objective on shares of Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research report on Wednesday, October 30th. Citigroup increased their price target on shares of Stryker from $406.00 to $411.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. boosted their target price on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Finally, Needham & Company LLC raised their target price on Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Insider Activity

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. The trade was a 42.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 67,381 shares of company stock valued at $24,825,275 over the last 90 days. Insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Stryker stock opened at $385.68 on Thursday. 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 fifty-two week low of $285.79 and a fifty-two week high of $398.20. The stock has a fifty day moving average of $365.46 and a two-hundred day moving average of $348.66. The company has a market capitalization of $147.03 billion, a price-to-earnings ratio of 41.34, a PEG ratio of 2.93 and a beta of 0.91.

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

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.