Peapack Gladstone Financial Corp Lowers Holdings in Stryker Co. (NYSE:SYK)

Peapack Gladstone Financial Corp cut its holdings in shares of Stryker Co. (NYSE:SYKFree Report) by 2.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 76,961 shares of the medical technology company’s stock after selling 1,843 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Stryker were worth $23,046,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Keybank National Association OH boosted its holdings in shares of Stryker by 3.5% during the 3rd quarter. Keybank National Association OH now owns 27,823 shares of the medical technology company’s stock valued at $7,603,000 after buying an additional 952 shares in the last quarter. Carnegie Capital Asset Management LLC lifted its position in Stryker by 0.5% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 96,241 shares of the medical technology company’s stock valued at $28,820,000 after purchasing an additional 497 shares in the last quarter. Atlantic Edge Private Wealth Management LLC bought a new stake in Stryker during the 4th quarter worth approximately $1,561,000. CoreCap Advisors LLC lifted its position in shares of Stryker by 3.9% in the fourth quarter. CoreCap Advisors LLC now owns 5,030 shares of the medical technology company’s stock valued at $1,506,000 after acquiring an additional 191 shares in the last quarter. Finally, Consolidated Planning Corp purchased a new position in Stryker during the fourth quarter valued at $205,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SYK has been the subject of a number of recent analyst reports. TD Cowen lifted their price target on shares of Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Robert W. Baird upped their target price on Stryker from $367.00 to $378.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Piper Sandler raised their target price on Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. The Goldman Sachs Group began coverage on Stryker in a research report on Thursday, May 30th. They set a “neutral” rating and a $372.00 target price on the stock. Finally, Wells Fargo & Company increased their price objective on shares of Stryker from $364.00 to $381.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $370.58.

Check Out Our Latest Report on Stryker

Insider Activity

In related news, CAO William E. Berry, Jr. sold 7,690 shares of Stryker 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 transaction, the chief accounting officer now 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 Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.50% of the company’s stock.

Stryker Price Performance

SYK traded up $2.61 on Tuesday, reaching $342.00. The company had a trading volume of 1,727,938 shares, compared to its average volume of 1,352,565. The company has a fifty day moving average of $338.15 and a 200-day moving average of $327.00. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $130.28 billion, a P/E ratio of 38.74, a PEG ratio of 2.69 and a beta of 0.92. Stryker Co. has a one year low of $249.98 and a one year high of $361.41.

Stryker (NYSE:SYKGet Free Report) last announced its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share 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 analysts’ expectations of $5.10 billion. During the same quarter last year, the business posted $2.14 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, equities research analysts anticipate that Stryker Co. will post 11.95 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a $0.80 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.20 annualized dividend and a yield of 0.94%. Stryker’s dividend payout ratio (DPR) is 36.53%.

About Stryker

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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