First Citizens Bank & Trust Co. Reduces Stake in Stryker Co. (NYSE:SYK)

First Citizens Bank & Trust Co. lowered its holdings in Stryker Co. (NYSE:SYK) by 2.1% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 5,620 shares of the medical technology company’s stock after selling 120 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Stryker were worth $1,171,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in SYK. Fisher Asset Management LLC increased its holdings in shares of Stryker by 82.8% in the 2nd quarter. Fisher Asset Management LLC now owns 2,379,024 shares of the medical technology company’s stock valued at $428,676,000 after acquiring an additional 1,077,457 shares during the last quarter. 1832 Asset Management L.P. grew its stake in Stryker by 519.3% during the 1st quarter. 1832 Asset Management L.P. now owns 1,199,607 shares of the medical technology company’s stock worth $196,926,000 after buying an additional 1,005,913 shares during the last quarter. Invesco Ltd. grew its stake in Stryker by 61.4% during the 1st quarter. Invesco Ltd. now owns 1,403,581 shares of the medical technology company’s stock worth $233,681,000 after buying an additional 533,816 shares during the last quarter. Nuveen Asset Management LLC grew its stake in Stryker by 55.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,489,872 shares of the medical technology company’s stock worth $268,460,000 after buying an additional 530,593 shares during the last quarter. Finally, SPF Beheer BV purchased a new position in Stryker during the 1st quarter worth approximately $77,957,000. Institutional investors and hedge funds own 71.02% of the company’s stock.

SYK has been the topic of a number of research reports. Northland Securities initiated coverage on Stryker in a research note on Tuesday, October 6th. They set a “market perform” rating and a $225.00 price target on the stock. Morgan Stanley boosted their target price on Stryker from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, July 31st. SVB Leerink upped their price target on Stryker from $215.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, July 31st. Citigroup lifted their price objective on shares of Stryker from $227.00 to $232.00 and gave the company a “buy” rating in a research report on Friday, July 31st. Finally, Raymond James upped their price objective on shares of Stryker from $220.00 to $240.00 and gave the stock an “outperform” rating in a research report on Monday, October 12th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $219.50.

In other Stryker news, CEO Kevin Lobo sold 25,855 shares of the firm’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $190.80, for a total transaction of $4,933,134.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.80% of the stock is owned by company insiders.

Shares of NYSE SYK opened at $224.05 on Friday. Stryker Co. has a 52 week low of $124.54 and a 52 week high of $227.39. The stock has a market cap of $83.98 billion, a price-to-earnings ratio of 53.22, a PEG ratio of 3.47 and a beta of 0.83. The company’s 50-day moving average price is $206.98 and its 200 day moving average price is $191.07. The company has a current ratio of 2.91, a quick ratio of 2.12 and a debt-to-equity ratio of 0.93.

Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, July 30th. The medical technology company reported $0.64 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.62 by $0.02. Stryker had a net margin of 11.38% and a return on equity of 20.53%. The company had revenue of $2.76 billion for the quarter, compared to analysts’ expectations of $2.63 billion. As a group, research analysts expect that Stryker Co. will post 6.29 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Wednesday, September 30th will be paid a dividend of $0.575 per share. The ex-dividend date is Tuesday, September 29th. This represents a $2.30 annualized dividend and a dividend yield of 1.03%. Stryker’s dividend payout ratio is currently 27.85%.

Stryker Profile

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 that are used in various medical specialties.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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