Stryker Co. (NYSE:SYK) Shares Sold by Peapack Gladstone Financial Corp

Peapack Gladstone Financial Corp lessened its stake in Stryker Co. (NYSE:SYK) by 1.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 71,283 shares of the medical technology company’s stock after selling 702 shares during the quarter. Peapack Gladstone Financial Corp’s holdings in Stryker were worth $25,665,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of SYK. Vanguard Group Inc. lifted its holdings in Stryker by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company’s stock valued at $11,773,213,000 after acquiring an additional 252,188 shares during the period. Geode Capital Management LLC lifted its stake in shares of Stryker by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company’s stock valued at $2,539,033,000 after purchasing an additional 168,436 shares during the period. Norges Bank purchased a new stake in Stryker during the fourth quarter worth $1,710,744,000. Charles Schwab Investment Management Inc. increased its holdings in Stryker by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,985,045 shares of the medical technology company’s stock valued at $714,715,000 after buying an additional 48,819 shares in the last quarter. Finally, TD Asset Management Inc. raised its position in shares of Stryker by 7.0% in the fourth quarter. TD Asset Management Inc. now owns 1,264,686 shares of the medical technology company’s stock worth $455,350,000 after acquiring an additional 82,306 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In other Stryker news, Director Allan C. Golston sold 2,458 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the sale, the director now owns 14,895 shares of the company’s stock, valued at $5,705,827.65. The trade was a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction on Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the transaction, the director now owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by corporate insiders.

Stryker Stock Performance

NYSE:SYK opened at $346.14 on Friday. The company’s 50-day moving average is $381.69 and its two-hundred day moving average is $374.30. The firm has a market capitalization of $132.12 billion, a price-to-earnings ratio of 44.61, a PEG ratio of 2.93 and a beta of 0.95. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same period in the previous year, the firm earned $3.46 EPS. Analysts forecast that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.84 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.97%. Stryker’s dividend payout ratio (DPR) is currently 43.30%.

Analysts Set New Price Targets

Several brokerages recently weighed in on SYK. Barclays lifted their price target on Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. Citigroup reaffirmed a “buy” rating and set a $450.00 target price on shares of Stryker in a research note on Wednesday, February 26th. Needham & Company LLC reissued a “buy” rating and issued a $442.00 price target on shares of Stryker in a research note on Friday, March 21st. StockNews.com cut shares of Stryker from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Finally, Truist Financial lifted their target price on shares of Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker has an average rating of “Moderate Buy” and an average price target of $421.90.

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.