Stryker Co. (NYSE:SYK) Shares Sold by First Financial Bank Trust Division

First Financial Bank Trust Division reduced its position in Stryker Co. (NYSE:SYK - Free Report) by 17.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 36,042 shares of the medical technology company's stock after selling 7,629 shares during the period. Stryker accounts for approximately 1.3% of First Financial Bank Trust Division's portfolio, making the stock its 18th largest holding. First Financial Bank Trust Division's holdings in Stryker were worth $13,417,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Stryker in the fourth quarter valued at approximately $1,710,744,000. Raymond James Financial Inc. purchased a new stake in Stryker in the fourth quarter valued at approximately $353,394,000. FMR LLC lifted its position in Stryker by 10.0% during the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock valued at $2,892,946,000 after purchasing an additional 727,850 shares during the last quarter. Proficio Capital Partners LLC raised its stake in shares of Stryker by 52,520.8% during the fourth quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company's stock worth $214,660,000 after acquiring an additional 595,061 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Stryker in the 4th quarter worth approximately $154,140,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the sale, the director now directly owns 3,417,326 shares of the company's stock, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 5.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on SYK shares. Roth Mkm raised their price objective on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Truist Financial boosted their target price on shares of Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a report on Monday, May 5th. Argus set a $450.00 price target on shares of Stryker in a research note on Monday, February 3rd. Wall Street Zen lowered shares of Stryker from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, BTIG Research set a $403.00 target price on shares of Stryker and gave the company a "buy" rating in a research note on Monday, April 14th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, Stryker presently has an average rating of "Moderate Buy" and an average target price of $427.30.

Stryker Trading Down 1.1%

Shares of NYSE SYK traded down $4.02 during midday trading on Monday, hitting $378.62. The company's stock had a trading volume of 285,319 shares, compared to its average volume of 1,335,368. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19. The business's 50 day moving average is $368.77 and its two-hundred day moving average is $376.09. The firm has a market cap of $144.52 billion, a P/E ratio of 48.84, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, beating analysts' consensus estimates of $2.73 by $0.11. The company had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.68 billion. Stryker had a net margin of 13.25% and a return on equity of 23.58%. Stryker's revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.50 earnings per share. As a group, equities research analysts expect that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.89%. Stryker's payout ratio is currently 45.41%.

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.