First Hawaiian Bank Sells 879 Shares of Stryker Corporation $SYK

Key Points

• First Hawaiian Bank reduced its stake in Stryker Corporation by 10.5%, selling 879 shares and holding 7,482 shares valued at approximately $2.78 million as of the end of the first quarter.
• Stryker's shares opened at $383.32 with a market cap of $146.55 billion, and it reported earnings of $3.13 per share for its recent quarter, exceeding estimates.
• The company announced a quarterly dividend of $0.84 per share, payable on October 31st, with an annualized yield of 0.9% and a payout ratio of 44.50%.

First Hawaiian Bank lowered its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 10.5% in the first quarter, according to 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 quarter. First Hawaiian Bank's holdings in Stryker were worth $2,785,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its position in shares of Stryker by 15.4% in the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock valued at $1,643,000 after acquiring an additional 609 shares during the period. Gotham Asset Management LLC boosted its position in shares of Stryker by 139.8% in the fourth quarter. Gotham Asset Management LLC now owns 4,251 shares of the medical technology company's stock valued at $1,531,000 after acquiring an additional 2,478 shares during the period. Nomura Holdings Inc. boosted its position in shares of Stryker by 220.2% in the fourth quarter. Nomura Holdings Inc. now owns 15,925 shares of the medical technology company's stock valued at $5,734,000 after acquiring an additional 10,951 shares during the period. ProShare Advisors LLC boosted its position in shares of Stryker by 12.3% in the fourth quarter. ProShare Advisors LLC now owns 51,940 shares of the medical technology company's stock valued at $18,701,000 after acquiring an additional 5,686 shares during the period. Finally, Rafferty Asset Management LLC boosted its position in shares of Stryker by 11.9% in the fourth quarter. Rafferty Asset Management LLC now owns 38,909 shares of the medical technology company's stock valued at $14,009,000 after acquiring an additional 4,134 shares during the period. Institutional investors own 77.09% of the company's stock.

Stryker Stock Down 1.4%

Shares of SYK stock opened at $383.32 on Friday. The stock has a market cap of $146.55 billion, a P/E ratio of 50.77, a price-to-earnings-growth ratio of 2.80 and a beta of 0.93. Stryker Corporation has a one year low of $329.16 and a one year high of $406.19. The stock has a fifty day moving average price of $388.98 and a 200 day moving average price of $379.65. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same period in the prior year, the company posted $2.81 earnings per share. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker's dividend payout ratio is currently 44.50%.

Insider Buying and Selling at Stryker

In other Stryker news, insider Viju Menon sold 500 shares of the stock in a transaction on Monday, August 25th. The stock was sold at an average price of $390.61, for a total transaction of $195,305.00. Following the completion of the transaction, the insider directly owned 12,511 shares in the company, valued at $4,886,921.71. This represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total value of $75,290,000.00. Following the transaction, the director owned 3,222,108 shares of the company's stock, valued at $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SYK shares. Wells Fargo & Company increased their price objective on Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. BTIG Research reissued a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Truist Financial set a $415.00 target price on Stryker and gave the stock a "hold" rating in a research report on Monday, August 4th. Citigroup reaffirmed a "buy" rating and issued a $455.00 target price (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Finally, Needham & Company LLC raised their target price on Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Fourteen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $431.42.

Stryker Profile

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.

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