Stryker Co. (NYSE:SYK) Shares Sold by First Western Trust Bank

First Western Trust Bank cut its holdings in Stryker Co. (NYSE:SYK) by 0.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,499,733 shares of the medical technology company’s stock after selling 4,697 shares during the period. Stryker makes up 56.7% of First Western Trust Bank’s investment portfolio, making the stock its biggest holding. First Western Trust Bank’s holdings in Stryker were worth $1,190,784,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Burkett Financial Services LLC bought a new position in shares of Stryker in the fourth quarter valued at approximately $25,000. Central Pacific Bank Trust Division acquired a new position in Stryker in the 1st quarter valued at $39,000. DSM Capital Partners LLC bought a new position in Stryker in the 4th quarter worth $34,000. Private Wealth Management Group LLC acquired a new position in Stryker during the 4th quarter worth $40,000. Finally, Advantage Trust Co bought a new stake in Stryker during the fourth quarter valued at about $60,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Stock Down 0.6 %

SYK opened at $358.00 on Friday. The firm has a market cap of $136.43 billion, a price-to-earnings ratio of 40.87, a PEG ratio of 2.78 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. The firm’s 50-day simple moving average is $338.69 and its 200-day simple moving average is $341.91. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $364.36.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the prior year, the firm earned $2.54 earnings per share. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. Equities research analysts anticipate that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a $0.80 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.89%. Stryker’s payout ratio is 36.53%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. BTIG Research upped their price target on Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Stifel Nicolaus lowered their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. UBS Group upped their target price on shares of Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Truist Financial decreased their price target on shares of Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $377.11.

Insider Transactions at Stryker

In related news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the transaction, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at $949,716. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the transaction, the director now owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the sale, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at $949,716. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 210,600 shares of company stock worth $68,330,400. Insiders own 5.90% of the company’s stock.

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.