Stryker Co. (NYSE:SYK) Stake Cut by First Western Trust Bank

First Western Trust Bank decreased its stake in shares of Stryker Co. (NYSE:SYK) by 0.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,499,733 shares of the medical technology company’s stock after selling 4,697 shares during the period. Stryker accounts for 56.7% of First Western Trust Bank’s investment portfolio, making the stock its biggest position. First Western Trust Bank owned approximately 0.92% of Stryker worth $1,190,784,000 as of its most recent filing with the SEC.

Other institutional investors also recently made changes to their positions in the company. Harbor Investment Advisory LLC grew its position in shares of Stryker by 0.4% during the first quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock worth $2,499,000 after acquiring an additional 31 shares during the last quarter. Aspen Investment Management Inc increased its stake in shares of Stryker by 0.7% in the first quarter. Aspen Investment Management Inc now owns 4,368 shares of the medical technology company’s stock valued at $1,563,000 after purchasing an additional 31 shares during the period. Proficio Capital Partners LLC raised its holdings in shares of Stryker by 2.4% during the first quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock valued at $507,000 after buying an additional 33 shares during the last quarter. Versant Capital Management Inc grew its holdings in Stryker by 4.0% in the 2nd quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock worth $294,000 after buying an additional 33 shares in the last quarter. Finally, Stanley Laman Group Ltd. increased its position in Stryker by 4.6% in the 2nd quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock valued at $256,000 after acquiring an additional 33 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SYK. BTIG Research increased their price target on Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Evercore ISI lowered their target price on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Stifel Nicolaus reduced their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. The Goldman Sachs Group assumed coverage on shares of Stryker in a report on Thursday, May 30th. They issued a “neutral” rating and a $372.00 price objective for the company. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $386.00 target price on shares of Stryker in a research report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $377.11.

Stryker Stock Performance

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

Stryker (NYSE:SYK) last posted 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. The firm had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.54 EPS. As a group, equities research analysts predict that Stryker Co. will post 12 EPS for the current 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 dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a yield of 0.89%. Stryker’s payout ratio is presently 36.53%.

Insider Buying and Selling at Stryker

In related news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Viju Menon sold 600 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were 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 owns 2,852 shares in the company, valued at approximately $949,716. The disclosure for this sale can be found here. Insiders have sold a total of 210,600 shares of company stock valued at $68,330,400 in the last 90 days. 5.90% of the stock is currently owned by corporate insiders.

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.