Canandaigua National Bank & Trust Co. Boosts Position in Stryker Co. (NYSE:SYK)

Canandaigua National Bank & Trust Co. raised its stake in Stryker Co. (NYSE:SYK) by 0.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,633 shares of the medical technology company’s stock after buying an additional 74 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Stryker were worth $3,119,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Harbor Investment Advisory LLC raised its stake in Stryker by 0.4% in the 1st quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock worth $2,499,000 after acquiring an additional 31 shares during the last quarter. Aspen Investment Management Inc raised its stake in shares of Stryker by 0.7% in the first quarter. Aspen Investment Management Inc now owns 4,368 shares of the medical technology company’s stock worth $1,563,000 after purchasing an additional 31 shares during the last quarter. Proficio Capital Partners LLC lifted its holdings in shares of Stryker by 2.4% during the first quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock worth $507,000 after purchasing an additional 33 shares during the period. Versant Capital Management Inc boosted its position in Stryker by 4.0% in the second quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock valued at $294,000 after buying an additional 33 shares during the last quarter. Finally, Stanley Laman Group Ltd. increased its holdings in Stryker by 4.6% in the 2nd quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock worth $256,000 after buying an additional 33 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Insider Activity at Stryker

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the sale, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,685,213.16. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the sale, the director now directly owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 220,068 shares of company stock valued at $71,811,372. 5.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

SYK has been the topic of several recent research reports. Needham & Company LLC upped their price objective on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Stifel Nicolaus lowered their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Truist Financial reduced their price objective on Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday. Finally, Morgan Stanley lifted their price target on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Stryker has an average rating of “Moderate Buy” and an average price target of $379.37.

Stryker Stock Performance

SYK opened at $351.61 on Friday. The firm’s fifty day simple moving average is $349.38 and its two-hundred day simple moving average is $343.18. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $374.63. The company has a market cap of $133.99 billion, a price-to-earnings ratio of 40.14, a PEG ratio of 2.74 and a beta of 0.91. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51.

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

Stryker Dividend Announcement

The company 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. This represents a $3.20 annualized dividend and a dividend yield of 0.91%. The ex-dividend date is Monday, September 30th. Stryker’s payout ratio is 36.53%.

Stryker 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.