Community Bank N.A. Boosts Stake in Stryker Co. (NYSE:SYK)

Community Bank N.A. lifted its position in Stryker Co. (NYSE:SYK) by 3.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,099 shares of the medical technology company’s stock after purchasing an additional 225 shares during the quarter. Community Bank N.A.’s holdings in Stryker were worth $1,279,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Evolution Wealth Advisors LLC raised its position in Stryker by 64.4% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 143 shares of the medical technology company’s stock valued at $26,000 after purchasing an additional 56 shares during the last quarter. TFG Advisers LLC raised its position in Stryker by 0.4% during the 1st quarter. TFG Advisers LLC now owns 13,141 shares of the medical technology company’s stock valued at $2,187,000 after purchasing an additional 57 shares during the last quarter. AIA Investment Management Private Ltd raised its position in Stryker by 10.1% during the 1st quarter. AIA Investment Management Private Ltd now owns 624 shares of the medical technology company’s stock valued at $104,000 after purchasing an additional 57 shares during the last quarter. Larson Financial Group LLC raised its position in Stryker by 6.6% during the 2nd quarter. Larson Financial Group LLC now owns 922 shares of the medical technology company’s stock valued at $166,000 after purchasing an additional 57 shares during the last quarter. Finally, Mattern Wealth Management LLC raised its position in Stryker by 1.1% during the 1st quarter. Mattern Wealth Management LLC now owns 5,365 shares of the medical technology company’s stock valued at $893,000 after purchasing an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 71.24% of the company’s stock.

A number of research analysts have commented on the company. Barclays lowered Stryker from an “equal weight” rating to an “underweight” rating and set a $155.00 target price for the company. in a research report on Monday, April 13th. Cowen decreased their target price on Stryker from $240.00 to $220.00 and set an “outperform” rating for the company in a research report on Wednesday, April 22nd. Morgan Stanley increased their target price on Stryker from $215.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday. Citigroup increased their target price on Stryker from $227.00 to $232.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Argus decreased their target price on Stryker from $240.00 to $230.00 and set a “buy” rating for the company in a research report on Monday, May 11th. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $216.25.

In other news, VP Katherine Ann Owen sold 9,149 shares of the firm’s stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $186.79, for a total value of $1,708,941.71. Following the transaction, the vice president now directly owns 1,085 shares in the company, valued at approximately $202,667.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Glenn S. Boehnlein sold 10,351 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $185.24, for a total value of $1,917,419.24. Following the completion of the transaction, the chief financial officer now owns 16,321 shares in the company, valued at $3,023,302.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,670 shares of company stock worth $5,775,251. Company insiders own 6.80% of the company’s stock.

SYK traded down $6.90 during trading on Friday, hitting $193.30. 2,221,195 shares of the company’s stock traded hands, compared to its average volume of 1,253,880. The company’s 50 day simple moving average is $186.61 and its two-hundred day simple moving average is $189.31. The company has a current ratio of 2.58, a quick ratio of 1.77 and a debt-to-equity ratio of 0.72. Stryker Co. has a 12-month low of $124.54 and a 12-month high of $226.30. The stock has a market capitalization of $75.04 billion, a price-to-earnings ratio of 45.91, a PEG ratio of 3.48 and a beta of 0.84.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, July 30th. The medical technology company reported $0.64 EPS for the quarter, beating the consensus estimate of $0.63 by $0.01. Stryker had a return on equity of 20.53% and a net margin of 11.38%. The business had revenue of $2.76 billion for the quarter, compared to the consensus estimate of $2.63 billion. On average, equities analysts expect that Stryker Co. will post 6.25 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.575 per share. The ex-dividend date is Tuesday, September 29th. This represents a $2.30 annualized dividend and a yield of 1.19%. Stryker’s dividend payout ratio is 27.85%.

About Stryker

Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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