Heartland Bank & Trust Co Grows Stake in Stryker Co. (NYSE:SYK)

Heartland Bank & Trust Co grew its holdings in shares of Stryker Co. (NYSE:SYK) by 21.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,135 shares of the medical technology company’s stock after purchasing an additional 374 shares during the period. Heartland Bank & Trust Co’s holdings in Stryker were worth $726,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Central Pacific Bank Trust Division purchased a new stake in shares of Stryker during the first quarter worth about $39,000. Accent Capital Management LLC purchased a new stake in Stryker during the 4th quarter worth approximately $60,000. Sachetta LLC increased its stake in Stryker by 16.3% during the 2nd quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock valued at $80,000 after purchasing an additional 34 shares in the last quarter. Hazlett Burt & Watson Inc. raised its holdings in shares of Stryker by 17.9% in the first quarter. Hazlett Burt & Watson Inc. now owns 264 shares of the medical technology company’s stock worth $94,000 after buying an additional 40 shares during the last quarter. Finally, Rise Advisors LLC lifted its stake in shares of Stryker by 144.6% during the first quarter. Rise Advisors LLC now owns 274 shares of the medical technology company’s stock worth $98,000 after buying an additional 162 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of SYK stock opened at $361.26 on Tuesday. The company has a market capitalization of $137.62 billion, a P/E ratio of 41.24, a P/E/G ratio of 2.78 and a beta of 0.91. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $374.63. The business’s 50 day moving average is $348.29 and its two-hundred day moving average is $343.00. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. The firm had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm’s revenue for the quarter was up 8.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.54 EPS. Analysts expect that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.89%. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Insider Activity at Stryker

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the sale, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the transaction, the chief financial officer now owns 2,852 shares in the company, valued at approximately $949,716. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 220,068 shares of company stock valued at $71,811,372. 5.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Stifel Nicolaus cut their target price on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Evercore ISI decreased their target price on Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Royal Bank of Canada reiterated an “outperform” rating and issued a $386.00 price target on shares of Stryker in a report on Wednesday, July 31st. UBS Group lifted their price objective on shares of Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Piper Sandler reiterated an “overweight” rating and issued a $380.00 price objective on shares of Stryker in a research note on Tuesday, September 10th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus price target of $378.58.

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.