Canandaigua National Bank & Trust Co. Sells 30 Shares of Stryker Co. (NYSE:SYK)

Canandaigua National Bank & Trust Co. trimmed its holdings in shares of Stryker Co. (NYSE:SYK) by 0.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,603 shares of the medical technology company’s stock after selling 30 shares during the quarter. Canandaigua National Bank & Trust Co.’s holdings in Stryker were worth $3,098,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of SYK. Dunhill Financial LLC increased its holdings in Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 37 shares during the last quarter. Centennial Bank AR increased its stake in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares in the last quarter. Darwin Wealth Management LLC bought a new stake in shares of Stryker in the third quarter valued at approximately $36,000. HBW Advisory Services LLC purchased a new stake in shares of Stryker during the 3rd quarter valued at approximately $42,000. Finally, Hara Capital LLC purchased a new position in Stryker in the 3rd quarter valued at approximately $42,000. 77.09% of the stock is currently owned by institutional investors.

Stryker Price Performance

SYK stock traded down $0.59 during midday trading on Monday, hitting $360.93. The company’s stock had a trading volume of 1,264,731 shares, compared to its average volume of 867,727. The firm has a market capitalization of $137.59 billion, a price-to-earnings ratio of 38.68, a price-to-earnings-growth ratio of 2.82 and a beta of 0.95. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. Stryker Co. has a 12 month low of $294.34 and a 12 month high of $398.20. The company has a 50 day moving average of $375.23 and a two-hundred day moving average of $357.19.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. The company had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. Stryker’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.46 EPS. On average, analysts expect that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Tuesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.80. Stryker’s dividend payout ratio (DPR) is 36.01%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on SYK. Piper Sandler reiterated an “overweight” rating and issued a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Evercore ISI increased their price target on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group boosted their price objective on shares of Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Wolfe Research assumed coverage on shares of Stryker in a report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 target price on the stock. Finally, Needham & Company LLC upped their price target on shares of Stryker from $409.00 to $442.00 and gave the company a “buy” rating in a research report on Thursday, December 12th. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $405.80.

Insider Activity at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the sale, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.90% of the stock is currently owned by insiders.

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.