Commerce Bank Boosts Stock Position in Stryker Co. (NYSE:SYK)

Commerce Bank boosted its holdings in shares of Stryker Co. (NYSE:SYK) by 1.5% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 173,656 shares of the medical technology company’s stock after purchasing an additional 2,508 shares during the quarter. Commerce Bank’s holdings in Stryker were worth $52,003,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of SYK. Bremer Bank National Association increased its holdings in shares of Stryker by 4.0% in the 4th quarter. Bremer Bank National Association now owns 888 shares of the medical technology company’s stock valued at $266,000 after acquiring an additional 34 shares during the last quarter. Simon Quick Advisors LLC boosted its position in Stryker by 3.0% during the 4th quarter. Simon Quick Advisors LLC now owns 1,158 shares of the medical technology company’s stock valued at $347,000 after purchasing an additional 34 shares during the period. Consolidated Portfolio Review Corp boosted its position in Stryker by 3.6% during the 4th quarter. Consolidated Portfolio Review Corp now owns 983 shares of the medical technology company’s stock valued at $294,000 after purchasing an additional 34 shares during the period. FourThought Financial Partners LLC boosted its position in Stryker by 3.3% during the 4th quarter. FourThought Financial Partners LLC now owns 1,076 shares of the medical technology company’s stock valued at $322,000 after purchasing an additional 34 shares during the period. Finally, Catalyst Financial Partners LLC boosted its position in Stryker by 3.0% during the 4th quarter. Catalyst Financial Partners LLC now owns 1,154 shares of the medical technology company’s stock valued at $346,000 after purchasing an additional 34 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. TD Cowen boosted their price objective on Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Needham & Company LLC upgraded Stryker from a “hold” rating to a “buy” rating and set a $392.00 price objective for the company in a research report on Wednesday. Stifel Nicolaus boosted their price target on Stryker from $350.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. UBS Group increased their price target on Stryker from $339.00 to $351.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Finally, Roth Mkm increased their price target on Stryker from $348.00 to $405.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $367.32.

Stryker Price Performance

SYK stock traded down $4.56 during trading hours on Thursday, hitting $330.86. 547,406 shares of the stock traded hands, compared to its average volume of 1,327,935. The stock has a 50-day simple moving average of $340.69 and a 200 day simple moving average of $323.38. Stryker Co. has a one year low of $249.98 and a one year high of $361.41. The company has a market cap of $126.04 billion, a P/E ratio of 37.78, a P/E/G ratio of 2.60 and a beta of 0.91. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same period in the prior year, the business posted $2.14 earnings per share. Stryker’s revenue was up 9.7% compared to the same quarter last year. Equities analysts forecast that Stryker Co. will post 11.95 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.97%. The ex-dividend date is Friday, June 28th. Stryker’s dividend payout ratio is 36.53%.

Insider Activity

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the sale, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 5.90% of the stock is currently owned by company insiders.

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.