Independence Bank of Kentucky Purchases 438 Shares of Stryker Co. (NYSE:SYK)

Independence Bank of Kentucky raised its position in shares of Stryker Co. (NYSE:SYK) by 18.3% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,831 shares of the medical technology company’s stock after purchasing an additional 438 shares during the quarter. Independence Bank of Kentucky’s holdings in Stryker were worth $1,013,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Burkett Financial Services LLC purchased a new position in shares of Stryker during the 4th quarter valued at about $25,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in shares of Stryker by 203.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after buying an additional 61 shares in the last quarter. Rogco LP purchased a new position in shares of Stryker during the 4th quarter valued at about $30,000. DSM Capital Partners LLC purchased a new position in Stryker in the 4th quarter worth approximately $34,000. Finally, HBC Financial Services PLLC purchased a new position in Stryker in the 4th quarter worth approximately $37,000. 77.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on SYK shares. Barclays increased their target price on Stryker from $372.00 to $376.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Robert W. Baird increased their target price on Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Roth Mkm increased their target price on Stryker from $348.00 to $405.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Needham & Company LLC upgraded Stryker from a “hold” rating to a “buy” rating and set a $392.00 price target on the stock in a research note on Wednesday, May 22nd. Finally, Stifel Nicolaus raised their price target on Stryker from $350.00 to $375.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $370.58.

Stryker Price Performance

Shares of Stryker stock traded up $0.51 on Friday, reaching $340.25. The company’s stock had a trading volume of 1,894,420 shares, compared to its average volume of 1,082,587. The company has a market capitalization of $129.62 billion, a P/E ratio of 38.86, a PEG ratio of 2.68 and a beta of 0.92. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $361.41. The stock has a 50-day moving average price of $337.38 and a 200-day moving average price of $333.39. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The business’s revenue was up 9.7% on a year-over-year basis. During the same period in the previous year, the company posted $2.14 earnings per share. Analysts expect that Stryker Co. will post 11.95 EPS for the current year.

Stryker Dividend Announcement

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

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.