FineMark National Bank & Trust Decreases Stock Position in Stryker Co. (NYSE:SYK)

FineMark National Bank & Trust trimmed its holdings in shares of Stryker Co. (NYSE:SYK) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,170 shares of the medical technology company’s stock after selling 42 shares during the period. FineMark National Bank & Trust’s holdings in Stryker were worth $1,501,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC bought a new stake in Stryker in the 4th quarter worth about $25,000. Dunhill Financial LLC boosted its holdings in shares of Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 37 shares during the last quarter. Rakuten Securities Inc. grew its stake in shares of Stryker by 618.2% in the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock worth $28,000 after acquiring an additional 68 shares during the period. Centricity Wealth Management LLC purchased a new position in shares of Stryker during the fourth quarter valued at approximately $30,000. Finally, BankPlus Trust Department bought a new position in Stryker during the fourth quarter valued at approximately $33,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Activity at Stryker

In related news, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the transaction, the director now owns 14,895 shares in the company, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the sale, the director now owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

SYK has been the subject of a number of research reports. Truist Financial boosted their target price on shares of Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Stifel Nicolaus increased their target price on Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Needham & Company LLC reissued a “buy” rating and issued a $442.00 target price on shares of Stryker in a research report on Friday, March 21st. Wells Fargo & Company upped their price target on shares of Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and an average price target of $421.90.

Stryker Price Performance

Shares of NYSE:SYK opened at $373.00 on Wednesday. The firm has a market cap of $142.33 billion, a price-to-earnings ratio of 48.07, a P/E/G ratio of 2.93 and a beta of 0.95. The firm has a fifty day moving average price of $384.76 and a 200 day moving average price of $374.34. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same quarter in the prior year, the firm posted $3.46 earnings per share. As a group, sell-side analysts expect that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.84 per share. The ex-dividend date is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.90%. Stryker’s dividend payout ratio is currently 43.30%.

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.