OLD National Bancorp IN Sells 1,022 Shares of Stryker Co. (NYSE:SYK)

OLD National Bancorp IN lowered its holdings in Stryker Co. (NYSE:SYK) by 9.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,799 shares of the medical technology company’s stock after selling 1,022 shares during the period. OLD National Bancorp IN’s holdings in Stryker were worth $2,934,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Farmers & Merchants Trust Co of Chambersburg PA raised its position in shares of Stryker by 203.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after buying an additional 61 shares in the last quarter. HBC Financial Services PLLC acquired a new position in shares of Stryker in the 4th quarter valued at approximately $37,000. Bourgeon Capital Management LLC acquired a new position in shares of Stryker in the 4th quarter valued at approximately $37,000. Venturi Wealth Management LLC raised its position in shares of Stryker by 97.1% in the 4th quarter. Venturi Wealth Management LLC now owns 136 shares of the medical technology company’s stock valued at $41,000 after buying an additional 67 shares in the last quarter. Finally, Armstrong Advisory Group Inc. raised its position in shares of Stryker by 40.0% in the 4th quarter. Armstrong Advisory Group Inc. now owns 140 shares of the medical technology company’s stock valued at $42,000 after buying an additional 40 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Trading Up 0.7 %

NYSE:SYK opened at $327.68 on Tuesday. The firm has a market cap of $124.67 billion, a P/E ratio of 39.72, a P/E/G ratio of 2.62 and a beta of 0.89. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $361.41. The firm’s fifty day moving average is $349.74 and its 200-day moving average is $313.59. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.19. The business had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.60 billion. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The business’s quarterly revenue was up 11.8% on a year-over-year basis. During the same period last year, the company posted $3.00 earnings per share. Equities analysts expect that Stryker Co. will post 11.86 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Wednesday, March 27th. Stryker’s payout ratio is 38.79%.

Insiders Place Their Bets

In other news, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,675 shares in the company, valued at $1,317,414. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,675 shares in the company, valued at $1,317,414. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronda E. Stryker sold 201,146 shares of the firm’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the transaction, the director now directly owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 212,109 shares of company stock worth $72,845,768. 5.50% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SYK. Royal Bank of Canada upped their price objective on shares of Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Citigroup upped their price objective on shares of Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Roth Mkm upped their price objective on shares of Stryker from $345.00 to $348.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Truist Financial upped their price objective on shares of Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a research report on Wednesday, January 31st. Finally, Wells Fargo & Company upped their price objective on shares of Stryker from $336.00 to $364.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $340.45.

Stryker Company 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.