OLD National Bancorp IN Sells 112 Shares of Stryker Co. (NYSE:SYK)

OLD National Bancorp IN decreased its position in Stryker Co. (NYSE:SYK) by 1.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 9,250 shares of the medical technology company’s stock after selling 112 shares during the quarter. OLD National Bancorp IN’s holdings in Stryker were worth $3,443,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Elefante Mark B bought a new stake in shares of Stryker in the 4th quarter worth $337,000. Metis Global Partners LLC boosted its holdings in shares of Stryker by 10.2% in the 4th quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company’s stock worth $6,064,000 after buying an additional 1,561 shares during the last quarter. Fred Alger Management LLC boosted its holdings in shares of Stryker by 415.8% in the 4th quarter. Fred Alger Management LLC now owns 24,011 shares of the medical technology company’s stock worth $8,664,000 after buying an additional 19,356 shares during the last quarter. US Bancorp DE boosted its holdings in shares of Stryker by 0.5% in the 4th quarter. US Bancorp DE now owns 182,825 shares of the medical technology company’s stock worth $65,829,000 after buying an additional 976 shares during the last quarter. Finally, Larson Financial Group LLC boosted its holdings in shares of Stryker by 5.0% in the 4th quarter. Larson Financial Group LLC now owns 10,294 shares of the medical technology company’s stock worth $3,706,000 after buying an additional 492 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Trading Up 0.3%

Shares of Stryker stock opened at $384.15 on Monday. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19. The company has a market cap of $146.63 billion, a price-to-earnings ratio of 49.50, a PEG ratio of 2.93 and a beta of 0.91. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The company’s 50-day moving average price is $370.10 and its 200-day moving average price is $375.87.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.11. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same period in the prior year, the firm posted $2.50 earnings per share. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, equities analysts expect that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Monday, June 30th. Stryker’s payout ratio is 45.41%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on SYK. Needham & Company LLC reissued a “buy” rating and issued a $442.00 price target on shares of Stryker in a report on Friday, March 21st. Roth Mkm boosted their price target on shares of Stryker from $405.00 to $456.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Wall Street Zen downgraded shares of Stryker from a “buy” rating to a “hold” rating in a report on Friday. Truist Financial boosted their price target on shares of Stryker from $390.00 to $400.00 and gave the stock a “hold” rating in a report on Monday, May 5th. Finally, BTIG Research set a $403.00 price objective on shares of Stryker and gave the company a “buy” rating in a report on Monday, April 14th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $427.30.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value of $75,392,000.00. Following the transaction, the director now directly owns 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.90% of the company’s stock.

About Stryker

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.