First Citizens Bank & Trust Co. trimmed its holdings in shares of Stryker Co. (NYSE:SYK) by 2.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,488 shares of the medical technology company’s stock after selling 132 shares during the period. First Citizens Bank & Trust Co.’s holdings in Stryker were worth $1,345,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Slow Capital Inc. bought a new position in Stryker in the third quarter valued at approximately $27,000. Fortis Group Advisors LLC acquired a new position in shares of Stryker in the 3rd quarter valued at $30,000. Demars Financial Group LLC acquired a new position in shares of Stryker in the 2nd quarter valued at $32,000. Tarbox Family Office Inc. boosted its position in shares of Stryker by 43.3% in the 3rd quarter. Tarbox Family Office Inc. now owns 192 shares of the medical technology company’s stock worth $40,000 after purchasing an additional 58 shares during the last quarter. Finally, BNC Wealth Management LLC acquired a new stake in shares of Stryker during the third quarter worth $42,000. 71.02% of the stock is owned by institutional investors and hedge funds.
Several equities analysts have weighed in on SYK shares. Guggenheim initiated coverage on Stryker in a research note on Monday, January 4th. They issued a “neutral” rating on the stock. Canaccord Genuity cut their price target on shares of Stryker from $240.00 to $234.00 and set a “buy” rating on the stock in a research report on Friday, October 30th. SVB Leerink lifted their price objective on shares of Stryker from $225.00 to $235.00 and gave the stock an “outperform” rating in a research note on Friday, October 30th. TheStreet raised shares of Stryker from a “c+” rating to a “b+” rating in a research note on Thursday, October 29th. Finally, Credit Suisse Group lifted their price target on shares of Stryker from $253.00 to $278.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 6th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $225.92.
NYSE:SYK opened at $243.20 on Thursday. The company has a market cap of $91.39 billion, a P/E ratio of 57.77, a price-to-earnings-growth ratio of 3.71 and a beta of 0.78. Stryker Co. has a twelve month low of $124.54 and a twelve month high of $247.44. The business has a 50 day moving average price of $237.83 and a two-hundred day moving average price of $212.03. The company has a quick ratio of 2.12, a current ratio of 2.91 and a debt-to-equity ratio of 0.93.
Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, October 29th. The medical technology company reported $2.14 EPS for the quarter, topping the Zacks’ consensus estimate of $1.40 by $0.74. The business had revenue of $3.74 billion for the quarter, compared to analyst estimates of $3.41 billion. Stryker had a net margin of 11.38% and a return on equity of 20.53%. The firm’s revenue for the quarter was up 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.91 earnings per share. As a group, analysts anticipate that Stryker Co. will post 6.33 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, January 29th. Shareholders of record on Thursday, December 31st will be given a dividend of $0.63 per share. The ex-dividend date is Wednesday, December 30th. This is a boost from Stryker’s previous quarterly dividend of $0.58. This represents a $2.52 annualized dividend and a yield of 1.04%. Stryker’s payout ratio is 30.51%.
In other Stryker news, COO Timothy J. Scannell sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 23rd. The stock was sold at an average price of $232.61, for a total transaction of $1,163,050.00. Also, CFO Glenn S. Boehnlein sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, December 28th. The stock was sold at an average price of $239.10, for a total value of $478,200.00. Following the sale, the chief financial officer now owns 14,321 shares in the company, valued at approximately $3,424,151.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 17,697 shares of company stock valued at $4,168,737. Company insiders own 6.80% of the company’s stock.
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.
Featured Article: What is the Ex-Dividend Date in Investing?
Receive News & Ratings for Stryker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stryker and related companies with MarketBeat.com's FREE daily email newsletter.