Security National Bank Purchases 672 Shares of Stryker Corporation (NYSE:SYK)

Security National Bank raised its position in shares of Stryker Corporation (NYSE:SYK) by 2.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,481 shares of the medical technology company’s stock after purchasing an additional 672 shares during the period. Stryker makes up approximately 1.9% of Security National Bank’s holdings, making the stock its 12th largest holding. Security National Bank’s holdings in Stryker were worth $9,858,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Perigon Wealth Management LLC grew its holdings in shares of Stryker by 3.2% during the 1st quarter. Perigon Wealth Management LLC now owns 4,209 shares of the medical technology company’s stock valued at $1,567,000 after purchasing an additional 131 shares during the last quarter. Alpine Bank Wealth Management purchased a new stake in Stryker during the first quarter valued at about $1,228,000. HBK Sorce Advisory LLC grew its stake in shares of Stryker by 5.0% during the first quarter. HBK Sorce Advisory LLC now owns 847 shares of the medical technology company’s stock valued at $315,000 after buying an additional 40 shares during the last quarter. Pinnacle Bancorp Inc. increased its holdings in shares of Stryker by 18.6% in the first quarter. Pinnacle Bancorp Inc. now owns 510 shares of the medical technology company’s stock worth $190,000 after buying an additional 80 shares during the period. Finally, Golden State Wealth Management LLC lifted its stake in shares of Stryker by 298.5% in the 1st quarter. Golden State Wealth Management LLC now owns 793 shares of the medical technology company’s stock valued at $295,000 after acquiring an additional 594 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Up 1.5%

Shares of NYSE:SYK opened at $392.36 on Thursday. The firm has a market capitalization of $149.76 billion, a P/E ratio of 53.02, a P/E/G ratio of 2.91 and a beta of 0.91. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.00 and a current ratio of 1.64. The stock has a 50 day moving average price of $377.18 and a 200-day moving average price of $375.31. Stryker Corporation has a 52-week low of $314.93 and a 52-week high of $406.19.

Stryker (NYSE:SYK) last posted its quarterly earnings data 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 return on equity of 23.74% and a net margin of 12.31%. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter in the prior year, the company earned $2.50 earnings per share. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a $0.84 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. Stryker’s dividend payout ratio is currently 45.41%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Citigroup restated a “buy” rating and set a $455.00 price target (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. The Goldman Sachs Group set a $422.00 target price on shares of Stryker in a research note on Tuesday, March 4th. BTIG Research set a $403.00 price target on shares of Stryker and gave the company a “buy” rating in a research report on Monday, April 14th. Wall Street Zen upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Saturday, June 14th. Finally, Truist Financial upped their price objective on shares of Stryker from $390.00 to $400.00 and gave the company a “hold” rating in a research note on Monday, May 5th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Stryker has an average rating of “Moderate Buy” and a consensus target price of $427.30.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the sale, the director now directly owns 3,417,326 shares of the company’s stock, valued at approximately $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.90% of the stock is currently owned by company insiders.

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.