Fulton Bank N.A. Sells 1,207 Shares of Stryker Co. (NYSE:SYK)

Fulton Bank N.A. decreased its holdings in shares of Stryker Co. (NYSE:SYK) by 13.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,623 shares of the medical technology company’s stock after selling 1,207 shares during the quarter. Fulton Bank N.A.’s holdings in Stryker were worth $2,745,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in SYK. Dunhill Financial LLC boosted its stake 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 worth $27,000 after purchasing an additional 37 shares during the period. Centennial Bank AR lifted its stake in 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 during the last quarter. Darwin Wealth Management LLC purchased a new position in shares of Stryker during the third quarter valued at approximately $36,000. HBW Advisory Services LLC bought a new position in shares of Stryker during the third quarter valued at approximately $42,000. Finally, Hara Capital LLC purchased a new stake in shares of Stryker in the third quarter worth approximately $42,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

SYK has been the subject of several research reports. Truist Financial upped their target price on Stryker from $380.00 to $409.00 and gave the stock a “hold” rating in a report on Wednesday, December 18th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $425.00 price objective on shares of Stryker in a research note on Tuesday. Wells Fargo & Company raised their target price on shares of Stryker from $405.00 to $427.00 and gave the company an “overweight” rating in a research report on Wednesday, December 11th. Robert W. Baird upped their price target on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, UBS Group lifted their price objective on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $405.80.

Insider Buying and Selling

In related news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction dated 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 directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.50% of the company’s stock.

Stryker Price Performance

Shares of NYSE SYK traded up $7.03 on Wednesday, hitting $362.21. The company’s stock had a trading volume of 513,767 shares, compared to its average volume of 1,070,882. The stock has a 50 day moving average of $375.25 and a 200-day moving average of $357.42. The company has a market capitalization of $138.08 billion, a price-to-earnings ratio of 38.82, a price-to-earnings-growth ratio of 2.82 and a beta of 0.95. Stryker Co. has a 12-month low of $298.52 and a 12-month high of $398.20. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter last year, the business posted $2.46 EPS. The firm’s quarterly revenue was up 11.9% compared to the same quarter last year. As a group, research analysts predict that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

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

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.