Centennial Bank AR Grows Stake in Stryker Co. (NYSE:SYK)

Centennial Bank AR grew its holdings in Stryker Co. (NYSE:SYK) by 106.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 93 shares of the medical technology company’s stock after buying an additional 48 shares during the quarter. Centennial Bank AR’s holdings in Stryker were worth $32,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Central Pacific Bank Trust Division purchased a new stake in Stryker in the 1st quarter worth approximately $39,000. Accent Capital Management LLC purchased a new position in shares of Stryker in the 4th quarter valued at approximately $60,000. Sachetta LLC lifted its stake in shares of Stryker by 16.3% in 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 during the period. Hazlett Burt & Watson Inc. lifted its stake in shares of Stryker by 17.9% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 264 shares of the medical technology company’s stock valued at $94,000 after purchasing an additional 40 shares during the period. Finally, Rise Advisors LLC increased its position in Stryker by 144.6% during the 1st quarter. Rise Advisors LLC now owns 274 shares of the medical technology company’s stock valued at $98,000 after buying an additional 162 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on SYK shares. BTIG Research boosted their price objective on Stryker from $360.00 to $374.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. Needham & Company LLC upped their target price on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Wolfe Research began coverage on Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price target on the stock. Stifel Nicolaus decreased their price objective on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $386.00 target price on shares of Stryker in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $379.37.

Stryker Stock Down 1.1 %

Stryker stock opened at $357.36 on Wednesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. The firm has a market capitalization of $136.14 billion, a price-to-earnings ratio of 40.79, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $374.63. The stock’s fifty day moving average is $348.60 and its two-hundred day moving average is $343.04.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. The business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business’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 earnings per share. Analysts predict that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s payout ratio is currently 36.53%.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the sale, the director now owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the transaction, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the transaction, the director now owns 3,316,608 shares in the company, valued at $1,072,790,023.68. The disclosure for this sale can be found here. Insiders have sold a total of 220,068 shares of company stock valued at $71,811,372 over the last quarter. Insiders own 5.90% of the company’s stock.

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.