Independence Bank of Kentucky Acquires 1,023 Shares of Stryker Co. (NYSE:SYK)

Independence Bank of Kentucky grew its holdings in Stryker Co. (NYSE:SYKFree Report) by 74.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,393 shares of the medical technology company’s stock after acquiring an additional 1,023 shares during the period. Independence Bank of Kentucky’s holdings in Stryker were worth $717,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Quarry LP bought a new stake in Stryker in the first quarter worth approximately $27,000. Freedom Wealth Alliance LLC bought a new stake in Stryker in the fourth quarter worth approximately $26,000. Rise Advisors LLC grew its position in Stryker by 692.9% in the third quarter. Rise Advisors LLC now owns 111 shares of the medical technology company’s stock worth $30,000 after acquiring an additional 97 shares in the last quarter. West Tower Group LLC bought a new stake in Stryker in the second quarter worth approximately $35,000. Finally, Cornerstone Planning Group LLC acquired a new stake in shares of Stryker in the second quarter worth $38,000. 77.09% of the stock is owned by institutional investors.

Insider Transactions at Stryker

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s 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 sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s 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 sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Allan C. Golston sold 3,273 shares of the company’s 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 sale, the director now directly owns 14,242 shares in the company, valued at approximately $4,856,522. The disclosure for this sale can be found here. In the last quarter, insiders have sold 212,109 shares of company stock valued at $72,845,768. 5.90% of the stock is owned by insiders.

Stryker Trading Up 0.6 %

Shares of SYK stock opened at $351.39 on Thursday. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $361.41. The stock has a market cap of $133.69 billion, a price-to-earnings ratio of 42.59, a P/E/G ratio of 2.85 and a beta of 0.89. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58. The firm has a fifty day moving average of $346.71 and a 200-day moving average of $307.34.

Stryker (NYSE:SYKGet Free Report) last announced its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.19. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The company had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.60 billion. During the same quarter in the prior year, the company posted $3.00 EPS. The business’s revenue was up 11.8% on a year-over-year basis. On average, equities research analysts forecast that Stryker Co. will post 11.86 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s dividend payout ratio is 38.79%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on SYK. Royal Bank of Canada restated an “outperform” rating and issued a $360.00 price objective on shares of Stryker in a research note on Thursday, February 15th. Citigroup boosted their price objective on shares of Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a research note on Wednesday. Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $315.00 to $360.00 in a research note on Wednesday, January 31st. Roth Mkm boosted their price objective on shares of Stryker from $345.00 to $348.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Finally, Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 price objective for the company in a research note on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $333.62.

Check Out Our Latest Stock Analysis on SYK

Stryker Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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