BankPlus Trust Department Boosts Holdings in Stryker Corporation $SYK

BankPlus Trust Department boosted its holdings in Stryker Corporation (NYSE:SYK) by 417.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,013 shares of the medical technology company’s stock after purchasing an additional 1,624 shares during the quarter. BankPlus Trust Department’s holdings in Stryker were worth $744,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Two Point Capital Management Inc. bought a new stake in Stryker during the 2nd quarter valued at about $7,281,000. Alecta Tjanstepension Omsesidigt increased its position in shares of Stryker by 82.0% during the second quarter. Alecta Tjanstepension Omsesidigt now owns 458,300 shares of the medical technology company’s stock worth $181,235,000 after acquiring an additional 206,500 shares during the period. SVB Wealth LLC purchased a new position in shares of Stryker during the second quarter worth approximately $4,785,000. AXQ Capital LP bought a new stake in shares of Stryker during the second quarter valued at approximately $567,000. Finally, United Services Automobile Association purchased a new stake in shares of Stryker in the first quarter valued at approximately $2,857,000. Institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

Shares of SYK opened at $354.20 on Friday. The company has a 50 day moving average of $363.78 and a two-hundred day moving average of $376.49. The company has a quick ratio of 1.13, a current ratio of 1.85 and a debt-to-equity ratio of 0.68. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19. The company has a market cap of $135.45 billion, a price-to-earnings ratio of 46.54, a price-to-earnings-growth ratio of 2.51 and a beta of 0.89.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Friday, October 31st. The medical technology company reported $3.19 EPS for the quarter, beating the consensus estimate of $3.13 by $0.06. The firm had revenue of $6.06 billion during the quarter, compared to analyst estimates of $6.04 billion. Stryker had a return on equity of 24.07% and a net margin of 12.07%.The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.87 EPS. As a group, analysts predict that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently declared 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 is a boost from Stryker’s previous quarterly dividend of $0.84. This represents a $3.52 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Wednesday, December 31st. Stryker’s dividend payout ratio is 44.15%.

Insider Activity

In related news, 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 value of $97,566,397.44. Following the completion of the transaction, the director directly owned 2,702,108 shares of the company’s stock, valued at $954,600,714.24. This trade represents a 9.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO William E. Berry, Jr. sold 1,953 shares of Stryker stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $365.49, for a total transaction of $713,801.97. Following the completion of the sale, the chief accounting officer owned 2,833 shares of the company’s stock, valued at $1,035,433.17. This trade represents a 40.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have 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.

Analysts Set New Price Targets

A number of brokerages have weighed in on SYK. Rothschild Redb raised Stryker to a “hold” rating in a research report on Thursday, September 18th. Needham & Company LLC restated a “buy” rating and set a $448.00 price target on shares of Stryker in a research note on Friday, November 14th. Wall Street Zen raised shares of Stryker from a “hold” rating to a “buy” rating in a research note on Sunday, December 21st. BTIG Research reissued a “buy” rating and set a $410.00 target price on shares of Stryker in a research report on Friday, November 14th. Finally, UBS Group set a $408.00 price target on shares of Stryker in a research report on Monday, October 13th. Thirteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $431.84.

About Stryker

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.