First Western Trust Bank Has $1.08 Billion Stock Holdings in Stryker Co. (NYSE:SYK)

First Western Trust Bank lessened its position in Stryker Co. (NYSE:SYK) by 7.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,768,680 shares of the medical technology company’s stock after selling 281,618 shares during the period. Stryker makes up 56.1% of First Western Trust Bank’s holdings, making the stock its largest position. First Western Trust Bank’s holdings in Stryker were worth $1,075,845,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Vinva Investment Management Ltd bought a new stake in shares of Stryker during the 1st quarter worth $3,257,000. Stifel Financial Corp increased its stake in Stryker by 0.7% in the 1st quarter. Stifel Financial Corp now owns 400,767 shares of the medical technology company’s stock worth $114,412,000 after purchasing an additional 2,868 shares in the last quarter. Coastal Investment Advisors Inc. acquired a new stake in Stryker during the 4th quarter worth about $271,000. Maryland State Retirement & Pension System lifted its stake in Stryker by 0.6% during the first quarter. Maryland State Retirement & Pension System now owns 27,814 shares of the medical technology company’s stock valued at $7,940,000 after buying an additional 164 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of Stryker by 28.6% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,451 shares of the medical technology company’s stock worth $1,271,000 after buying an additional 990 shares during the period. Institutional investors and hedge funds own 76.24% of the company’s stock.

Stryker Stock Performance

SYK traded down $3.64 on Tuesday, hitting $296.08. The company had a trading volume of 235,249 shares, compared to its average volume of 1,290,432. Stryker Co. has a 1-year low of $200.80 and a 1-year high of $306.93. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.54 and a quick ratio of 0.84. The company’s fifty day moving average price is $287.00 and its 200 day moving average price is $284.98. The stock has a market cap of $112.45 billion, a price-to-earnings ratio of 42.33, a price-to-earnings-growth ratio of 2.79 and a beta of 0.95.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, August 3rd. The medical technology company reported $2.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.38 by $0.16. Stryker had a net margin of 13.92% and a return on equity of 22.31%. The business had revenue of $5 billion during the quarter, compared to the consensus estimate of $4.83 billion. During the same period in the prior year, the firm earned $2.25 EPS. Stryker’s quarterly revenue was up 11.2% compared to the same quarter last year. Equities analysts predict that Stryker Co. will post 10.37 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Thursday, September 28th. Stryker’s dividend payout ratio is currently 42.37%.

Insider Transactions at Stryker

In related news, insider Viju Menon sold 5,000 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $289.00, for a total transaction of $1,445,000.00. Following the completion of the sale, the insider now owns 6,994 shares in the company, valued at approximately $2,021,266. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Morgan Stanley lifted their price objective on shares of Stryker from $295.00 to $300.00 and gave the stock an “equal weight” rating in a research report on Monday, August 7th. BTIG Research upped their price target on Stryker from $313.00 to $331.00 in a research report on Monday, July 17th. Truist Financial raised their price objective on Stryker from $300.00 to $310.00 in a research report on Wednesday, July 19th. Argus upped their target price on Stryker from $285.00 to $310.00 in a report on Thursday, May 25th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $325.00 price target on shares of Stryker in a report on Thursday, August 17th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $309.59.

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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.