Farmers Trust Co. Sells 98 Shares of Stryker Co. (NYSE:SYK)

Farmers Trust Co. decreased its position in shares of Stryker Co. (NYSE:SYK) by 2.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,271 shares of the medical technology company’s stock after selling 98 shares during the quarter. Farmers Trust Co.’s holdings in Stryker were worth $1,178,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in SYK. Parnassus Investments LLC acquired a new position in Stryker during the 3rd quarter valued at about $762,798,000. Baltimore Washington Financial Advisors Inc. boosted its stake in Stryker by 2.4% in the third quarter. Baltimore Washington Financial Advisors Inc. now owns 66,681 shares of the medical technology company’s stock valued at $24,089,000 after acquiring an additional 1,554 shares during the last quarter. Sivik Global Healthcare LLC raised its position in shares of 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 acquiring an additional 2,000 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of Stryker by 2.7% in 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 during the period. Finally, World Investment Advisors LLC boosted its position in shares of Stryker by 126.1% in the 3rd quarter. World Investment Advisors LLC now owns 8,142 shares of the medical technology company’s stock worth $2,941,000 after purchasing an additional 4,541 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Truist Financial increased their target price on Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a research note on Wednesday, January 1st. Robert W. Baird increased their target price on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. upped their price objective on shares of Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $370.00 to $445.00 in a report on Monday, December 2nd. Five equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $405.80.

Stryker Stock Performance

Shares of SYK stock traded up $8.29 during trading on Wednesday, reaching $363.47. 886,393 shares of the company’s stock were exchanged, compared to its average volume of 1,128,079. The firm’s fifty day moving average price is $375.25 and its 200-day moving average price is $357.42. Stryker Co. has a twelve month low of $298.52 and a twelve month high of $398.20. The stock has a market capitalization of $138.56 billion, a PE ratio of 38.96, a PEG ratio of 2.82 and a beta of 0.95. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. The company 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 business’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.46 earnings per share. As a group, sell-side analysts anticipate that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

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

Insiders Place Their Bets

In related news, CEO Kevin Lobo sold 57,313 shares of the firm’s 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 owns 100,027 shares in the company, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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.