OLD National Bancorp IN Sells 1,022 Shares of Stryker Co. (NYSE:SYK)

OLD National Bancorp IN cut its position in Stryker Co. (NYSE:SYK) by 9.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 9,799 shares of the medical technology company’s stock after selling 1,022 shares during the period. OLD National Bancorp IN’s holdings in Stryker were worth $2,934,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Klingenstein Fields & Co. LP grew its stake in shares of Stryker by 0.9% during the fourth quarter. Klingenstein Fields & Co. LP now owns 85,076 shares of the medical technology company’s stock worth $25,477,000 after acquiring an additional 758 shares during the last quarter. Commerzbank Aktiengesellschaft FI purchased a new stake in shares of Stryker during the fourth quarter worth about $366,000. Handelsbanken Fonder AB grew its stake in shares of Stryker by 11.6% during the fourth quarter. Handelsbanken Fonder AB now owns 121,462 shares of the medical technology company’s stock worth $36,373,000 after acquiring an additional 12,596 shares during the last quarter. CWM LLC grew its stake in shares of Stryker by 11.3% during the fourth quarter. CWM LLC now owns 13,979 shares of the medical technology company’s stock worth $4,186,000 after acquiring an additional 1,422 shares during the last quarter. Finally, Criterion Capital Advisors LLC purchased a new stake in Stryker in the fourth quarter valued at approximately $60,000. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Up 0.7 %

NYSE SYK opened at $327.68 on Tuesday. The company has a market cap of $124.67 billion, a P/E ratio of 39.72, a P/E/G ratio of 2.62 and a beta of 0.89. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58. Stryker Co. has a one year low of $249.98 and a one year high of $361.41. The business has a fifty day moving average price of $349.74 and a 200 day moving average price of $313.59.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, topping analysts’ consensus estimates of $3.27 by $0.19. The business had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.60 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The company’s revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the business posted $3.00 EPS. Research analysts anticipate that Stryker Co. will post 11.86 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date is Wednesday, March 27th. Stryker’s dividend payout ratio (DPR) is 38.79%.

Insider Activity at Stryker

In related news, Director Allan C. Golston sold 3,273 shares of the firm’s stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the completion of the transaction, the director now directly owns 14,242 shares in the company, valued at approximately $4,856,522. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Stryker news, Director Allan C. Golston sold 3,273 shares of the stock in a transaction dated Friday, February 2nd. The stock was sold at an average price of $341.00, for a total value of $1,116,093.00. Following the sale, the director now owns 14,242 shares of the company’s stock, valued at approximately $4,856,522. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the sale, the chief accounting officer now directly owns 3,675 shares in the company, valued at approximately $1,317,414. The disclosure for this sale can be found here. Insiders sold 212,109 shares of company stock worth $72,845,768 in the last three months. 5.50% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on SYK. TD Cowen upped their target price on Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and upped their target price for the company from $315.00 to $360.00 in a research report on Wednesday, January 31st. Evercore ISI upped their target price on Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Citigroup upped their target price on Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Finally, Royal Bank of Canada boosted their price target on Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, Stryker currently has an average rating of “Moderate Buy” and an average target price of $340.45.

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.