Montecito Bank & Trust Takes $732,000 Position in Stryker Corporation $SYK

Montecito Bank & Trust bought a new stake in Stryker Corporation (NYSE:SYK) during the third quarter, Holdings Channel reports. The institutional investor bought 1,981 shares of the medical technology company’s stock, valued at approximately $732,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of SYK. Vanguard Group Inc. boosted its stake in shares of Stryker by 1.3% during the second quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock worth $13,253,831,000 after buying an additional 440,607 shares during the period. State Street Corp raised its stake in Stryker by 1.0% during the 2nd quarter. State Street Corp now owns 14,956,732 shares of the medical technology company’s stock valued at $5,929,765,000 after acquiring an additional 150,204 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Stryker by 9.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company’s stock worth $4,515,847,000 after acquiring an additional 1,021,496 shares during the period. Geode Capital Management LLC grew its stake in shares of Stryker by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 7,393,611 shares of the medical technology company’s stock valued at $2,910,445,000 after purchasing an additional 79,654 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of Stryker by 307.6% in the second quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock valued at $2,214,146,000 after purchasing an additional 4,223,366 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Trading Up 0.1%

Shares of Stryker stock opened at $353.03 on Friday. The company has a 50-day moving average of $365.45 and a two-hundred day moving average of $377.69. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. The company has a current ratio of 1.85, a quick ratio of 1.13 and a debt-to-equity ratio of 0.68. The stock has a market cap of $135.01 billion, a PE ratio of 46.39, a price-to-earnings-growth ratio of 2.50 and a beta of 0.89.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, October 30th. The medical technology company reported $3.19 EPS for the quarter, topping the consensus estimate of $3.13 by $0.06. Stryker had a return on equity of 24.07% and a net margin of 12.07%.The business had revenue of $6.06 billion for the quarter, compared to analyst estimates of $6.04 billion. During the same quarter in the previous year, the company earned $2.87 EPS. The company’s quarterly revenue was up 10.2% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. On average, research analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.0%. This is a positive change from Stryker’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Wednesday, December 31st. Stryker’s dividend payout ratio is currently 44.15%.

Insider Activity

In other Stryker news, CFO Preston Wendell Wells sold 165 shares of Stryker stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $365.88, for a total transaction of $60,370.20. Following the completion of the transaction, the chief financial officer owned 6,694 shares in the company, valued at approximately $2,449,200.72. The trade was a 2.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ronda E. Stryker sold 276,173 shares of the stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the completion of the sale, the director owned 2,702,108 shares in the company, valued at $954,600,714.24. This represents a 9.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 522,118 shares of company stock worth $185,381,932 over the last 90 days. 5.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on SYK shares. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $435.00 price target on shares of Stryker in a report on Friday, November 14th. Wells Fargo & Company lifted their target price on shares of Stryker from $452.00 to $456.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Weiss Ratings reissued a “hold (c+)” rating on shares of Stryker in a report on Monday. Rothschild Redb raised Stryker to a “hold” rating in a report on Thursday, September 18th. Finally, Redburn Partners set a $420.00 target price on Stryker in a research note on Thursday, September 18th. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $431.39.

Stryker 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.