First Financial Bank Trust Division Decreases Stake in Stryker Co. (NYSE:SYK)

First Financial Bank Trust Division lessened its holdings in shares of Stryker Co. (NYSE:SYK) by 2.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 44,525 shares of the medical technology company’s stock after selling 912 shares during the period. Stryker makes up approximately 1.5% of First Financial Bank Trust Division’s portfolio, making the stock its 16th biggest holding. First Financial Bank Trust Division’s holdings in Stryker were worth $16,085,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in SYK. Centennial Bank AR boosted its position in shares of Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Stryker in the first quarter valued at about $39,000. Accent Capital Management LLC acquired a new stake in shares of Stryker in the fourth quarter valued at approximately $60,000. Sachetta LLC increased its stake in shares of Stryker by 16.3% during the 2nd quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after purchasing an additional 34 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. raised its position in shares of Stryker by 17.9% during the 1st quarter. Hazlett Burt & Watson Inc. now owns 264 shares of the medical technology company’s stock worth $94,000 after purchasing an additional 40 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Trading Down 0.6 %

Shares of NYSE SYK opened at $355.11 on Thursday. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $374.63. The company has a market cap of $135.28 billion, a price-to-earnings ratio of 40.54, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. The stock’s 50 day simple moving average is $348.90 and its 200 day simple moving average is $343.12.

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

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.80 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.90%. Stryker’s payout ratio is currently 36.53%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on SYK shares. Piper Sandler reiterated an “overweight” rating and set a $380.00 target price on shares of Stryker in a report on Tuesday, September 10th. Wolfe Research started coverage on Stryker in a report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price target for the company. UBS Group lifted their target price on Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Needham & Company LLC increased their price objective on shares of Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, BTIG Research boosted their price objective on Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $379.37.

Insider Activity

In related news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, insider Viju Menon sold 600 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction dated 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 sale, the director now owns 3,316,608 shares in the company, valued at $1,072,790,023.68. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 220,068 shares of company stock valued at $71,811,372. Insiders own 5.90% of the company’s stock.

About Stryker

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.