First Hawaiian Bank Decreases Stock Holdings in Stryker Co. (NYSE:SYK)

First Hawaiian Bank trimmed its holdings in shares of Stryker Co. (NYSE:SYK - Free Report) by 10.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,482 shares of the medical technology company's stock after selling 879 shares during the period. First Hawaiian Bank's holdings in Stryker were worth $2,785,000 at the end of the most recent reporting period.

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

Stryker Stock Up 0.1%

NYSE SYK traded up $0.51 during trading hours on Friday, reaching $382.86. 1,993,145 shares of the company's stock traded hands, compared to its average volume of 1,339,482. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The firm has a market cap of $146.13 billion, a PE ratio of 49.34, a PEG ratio of 2.93 and a beta of 0.93. The firm has a 50-day simple moving average of $368.77 and a 200 day simple moving average of $376.22. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32.

Stryker (NYSE:SYK - Get Free Report) last released its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.11. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The firm had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.68 billion. During the same period last year, the business earned $2.50 earnings per share. The business's revenue was up 11.9% on a year-over-year basis. Sell-side analysts anticipate that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's dividend payout ratio is presently 45.41%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on SYK. JMP Securities reiterated a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Wall Street Zen lowered shares of Stryker from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Truist Financial increased their price objective on Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a report on Monday, May 5th. The Goldman Sachs Group set a $422.00 price objective on Stryker in a report on Tuesday, March 4th. Finally, BTIG Research set a $403.00 price target on Stryker and gave the stock a "buy" rating in a research note on Monday, April 14th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $427.30.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the transaction, the director now directly owns 3,417,326 shares of the company's stock, valued at approximately $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 5.20% of the stock is owned by insiders.

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.