STAR Financial Bank Cuts Stake in Stryker Co. (NYSE:SYK)

STAR Financial Bank trimmed its position in Stryker Co. (NYSE:SYK) by 18.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. 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 reporting period.

Other large investors also recently bought and sold shares of the company. Centennial Bank AR increased its position in shares of Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of Stryker in the third quarter valued at about $36,000. Hara Capital LLC purchased a new position in shares of Stryker in the third quarter worth about $42,000. HBW Advisory Services LLC acquired a new position in Stryker during the third quarter worth about $42,000. Finally, Grove Bank & Trust grew its stake in Stryker by 84.8% during the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after acquiring an additional 56 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Price Performance

Shares of SYK opened at $385.68 on Thursday. The company has a market cap of $147.03 billion, a P/E ratio of 41.34, a PEG ratio of 2.93 and a beta of 0.91. Stryker Co. has a fifty-two week low of $285.79 and a fifty-two week high of $398.20. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The firm’s 50 day moving average price is $365.46 and its 200 day moving average price is $348.66.

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

Insider Activity

In related news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the transaction, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction 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 owns 10,042 shares in the company, valued at approximately $3,685,213.16. This represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 67,381 shares of company stock worth $24,825,275. 5.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Robert W. Baird boosted their target price on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. UBS Group upped their target price on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Needham & Company LLC lifted their price target on Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and issued a $420.00 price objective (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Finally, Wells Fargo & Company lifted their target price on shares of Stryker from $381.00 to $405.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $393.65.

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.