Park National Corp OH Decreases Holdings in Stryker Co. (NYSE:SYK)

Park National Corp OH lowered its stake in Stryker Co. (NYSE:SYK) by 5.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,723 shares of the medical technology company’s stock after selling 2,682 shares during the period. Park National Corp OH’s holdings in Stryker were worth $17,543,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Dunhill Financial LLC increased its position 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 purchasing an additional 37 shares during the last quarter. Centennial Bank AR boosted its stake in Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares during the period. Darwin Wealth Management LLC purchased a new position in Stryker during the third quarter worth $36,000. HBW Advisory Services LLC bought a new position in Stryker during the third quarter valued at $42,000. Finally, Hara Capital LLC bought a new stake in shares of Stryker in the 3rd quarter worth about $42,000. 77.09% of the stock is owned by institutional investors.

Stryker Stock Down 1.7 %

Stryker stock opened at $355.17 on Wednesday. Stryker Co. has a twelve month low of $294.34 and a twelve month high of $398.20. The business has a fifty day moving average of $375.25 and a two-hundred day moving average of $357.42. The firm has a market cap of $135.40 billion, a P/E ratio of 38.07, a P/E/G 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 (NYSE:SYK) last issued its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share 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 return on equity of 23.07% and a net margin of 16.34%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.46 earnings per share. On average, analysts forecast that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.80. Stryker’s payout ratio is 36.01%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Barclays upped their price target on shares of Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Canaccord Genuity Group increased their price target on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Robert W. Baird raised their price target on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Piper Sandler reaffirmed 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. Finally, JMP Securities reiterated a “market perform” rating on shares of Stryker in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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 on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. The trade was a 36.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.50% of the stock is currently owned by corporate insiders.

About Stryker

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.