Community Bank N.A. Has $1.88 Million Position in Stryker Co. (NYSE:SYK)

Community Bank N.A. cut its stake in Stryker Co. (NYSE:SYK) by 4.1% during the fourth quarter, HoldingsChannel reports. The fund owned 6,293 shares of the medical technology company’s stock after selling 267 shares during the quarter. Community Bank N.A.’s holdings in Stryker were worth $1,884,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SYK. Wedge Capital Management L L P NC increased its stake in shares of Stryker by 16.2% in the third quarter. Wedge Capital Management L L P NC now owns 780 shares of the medical technology company’s stock worth $213,000 after acquiring an additional 109 shares during the last quarter. Flagship Harbor Advisors LLC increased its stake in shares of Stryker by 2.5% in the third quarter. Flagship Harbor Advisors LLC now owns 2,271 shares of the medical technology company’s stock worth $621,000 after acquiring an additional 55 shares during the last quarter. DAVENPORT & Co LLC increased its stake in shares of Stryker by 5.1% in the third quarter. DAVENPORT & Co LLC now owns 13,214 shares of the medical technology company’s stock worth $3,611,000 after acquiring an additional 642 shares during the last quarter. Founders Financial Securities LLC increased its stake in shares of Stryker by 5.6% in the third quarter. Founders Financial Securities LLC now owns 3,165 shares of the medical technology company’s stock worth $865,000 after acquiring an additional 167 shares during the last quarter. Finally, Cedar Brook Financial Partners LLC increased its position in Stryker by 14.0% during the third quarter. Cedar Brook Financial Partners LLC now owns 958 shares of the medical technology company’s stock worth $262,000 after buying an additional 118 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Stryker

In related news, 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 owns 3,675 shares in the company, valued at $1,317,414. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, 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 transaction, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at $1,317,414. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction of $1,116,093.00. Following the completion of the transaction, the director now directly owns 14,242 shares of the company’s stock, valued at approximately $4,856,522. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 212,109 shares of company stock worth $72,845,768. Company insiders own 5.50% of the company’s stock.

Stryker Stock Performance

Shares of NYSE SYK traded up $1.94 during mid-day trading on Wednesday, hitting $336.85. The company had a trading volume of 1,478,179 shares, compared to its average volume of 1,282,265. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.58 and a quick ratio of 0.97. The business’s 50-day simple moving average is $349.39 and its 200-day simple moving average is $314.24. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $361.41. The firm has a market cap of $128.16 billion, a P/E ratio of 40.83, a PEG ratio of 2.64 and a beta of 0.89.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.19. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The business had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.60 billion. During the same quarter last year, the company earned $3.00 earnings per share. The firm’s revenue was up 11.8% on a year-over-year basis. As a group, analysts predict that Stryker Co. will post 11.86 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.95%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s payout ratio is presently 38.79%.

Wall Street Analyst Weigh In

Several equities analysts have commented on SYK shares. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 target price on the stock in a research report on Wednesday, January 31st. Roth Mkm increased their target price on shares of Stryker from $345.00 to $348.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Evercore ISI increased their target price on shares of Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Citigroup increased their target price on shares of Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Finally, Royal Bank of Canada increased their target price on shares of Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Stryker has an average rating of “Moderate Buy” and an average price target of $340.67.

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.