Park National Corp OH Reduces Position in Stryker Co. (NYSE:SYK)

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

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Dunhill Financial LLC lifted its position in Stryker by 94.9% during the third 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 period. Centennial Bank AR grew its position in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 48 shares during the period. Darwin Wealth Management LLC purchased a new position in shares of Stryker in the 3rd quarter valued at about $36,000. Hara Capital LLC acquired a new position in Stryker in the 3rd quarter worth about $42,000. Finally, HBW Advisory Services LLC purchased a new position in Stryker during the third quarter worth approximately $42,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Buying and Selling

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the 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 sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.50% of the stock is owned by corporate insiders.

Stryker Stock Down 1.7 %

NYSE SYK opened at $355.17 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The firm has a market cap of $135.40 billion, a PE ratio of 38.07, a P/E/G ratio of 2.82 and a beta of 0.95. The business’s fifty day simple moving average is $375.25 and its 200-day simple moving average is $357.42. Stryker Co. has a 52 week low of $294.34 and a 52 week high of $398.20.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 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 return on equity of 23.07% and a net margin of 16.34%. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.46 earnings per share. As a group, equities analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

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

Analyst Upgrades and Downgrades

SYK has been the subject of several research analyst reports. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research note on Wednesday, January 1st. Citigroup upped their price objective on shares of Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Truist Financial lifted their target price on shares of Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. BTIG Research upped their price target on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $420.00 price objective (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $405.80.

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.