First Financial Bank Trust Division reduced its position in Stryker Co. (NYSE:SYK) by 1.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 48,439 shares of the medical technology company’s stock after selling 703 shares during the quarter. Stryker makes up about 1.5% of First Financial Bank Trust Division’s portfolio, making the stock its 21st largest position. First Financial Bank Trust Division’s holdings in Stryker were worth $9,567,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently modified their holdings of SYK. Westside Investment Management Inc. grew its position in Stryker by 38.7% during the fourth quarter. Westside Investment Management Inc. now owns 233 shares of the medical technology company’s stock valued at $37,000 after buying an additional 65 shares during the period. First Hawaiian Bank grew its position in Stryker by 0.5% during the first quarter. First Hawaiian Bank now owns 12,570 shares of the medical technology company’s stock valued at $2,483,000 after buying an additional 67 shares during the period. DAVENPORT & Co LLC grew its position in Stryker by 1.6% during the fourth quarter. DAVENPORT & Co LLC now owns 4,340 shares of the medical technology company’s stock valued at $680,000 after buying an additional 70 shares during the period. Wedbush Securities Inc. boosted its position in Stryker by 1.6% during the fourth quarter. Wedbush Securities Inc. now owns 4,497 shares of the medical technology company’s stock worth $705,000 after purchasing an additional 70 shares during the period. Finally, First Allied Advisory Services Inc. boosted its position in shares of Stryker by 0.4% in the fourth quarter. First Allied Advisory Services Inc. now owns 16,700 shares of the medical technology company’s stock valued at $2,625,000 after acquiring an additional 71 shares during the period. 74.61% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE SYK traded down $3.11 during midday trading on Wednesday, reaching $185.93. 24,686 shares of the stock traded hands, compared to its average volume of 989,974. Stryker Co. has a one year low of $144.75 and a one year high of $199.85. The company has a market capitalization of $72.17 billion, a P/E ratio of 25.44, a P/E/G ratio of 2.38 and a beta of 0.88. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.41 and a current ratio of 2.02.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be paid a $0.52 dividend. The ex-dividend date is Thursday, March 28th. This represents a $2.08 dividend on an annualized basis and a yield of 1.12%. Stryker’s payout ratio is 28.45%.
A number of brokerages recently weighed in on SYK. Zacks Investment Research reaffirmed a “hold” rating and issued a $162.00 target price on shares of Stryker in a research note on Monday, December 31st. Evercore ISI raised shares of Stryker from an “in-line” rating to an “outperform” rating and set a $156.75 price target on the stock in a research note on Wednesday, January 2nd. Citigroup decreased their price target on shares of Stryker from $174.00 to $169.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 2nd. Morgan Stanley decreased their price target on shares of Stryker from $212.00 to $197.00 and set an “overweight” rating on the stock in a research note on Wednesday, January 2nd. Finally, Deutsche Bank assumed coverage on shares of Stryker in a research note on Wednesday, January 2nd. They issued a “buy” rating and a $179.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Stryker presently has a consensus rating of “Buy” and a consensus price target of $192.13.
In related news, VP Michael Damon Hutchinson sold 15,995 shares of the firm’s stock in a transaction dated Friday, February 8th. The stock was sold at an average price of $180.49, for a total transaction of $2,886,937.55. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Chairman Kevin Lobo sold 41,750 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $194.11, for a total value of $8,104,092.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 125,789 shares of company stock worth $23,825,554. Insiders own 7.20% of the company’s stock.
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Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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