Stryker Corporation (NYSE:SYK) Position Decreased by First Western Trust Bank

Key Points

• First Western Trust Bank reduced its stake in Stryker Corporation by 6.9%, holding 3,255,414 shares valued at approximately $1.21 billion, which constitutes around 58.0% of its total investments.
• Stryker recently reported better-than-expected earnings, with an EPS of $3.13 beating estimates of $3.07 and a revenue of $6.02 billion exceeding forecasts of $5.92 billion.
• The company announced a quarterly dividend of $0.84 per share, set to be paid on October 31, with a dividend yield of 0.9% and a payout ratio of 44.50%.

First Western Trust Bank decreased its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 6.9% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,255,414 shares of the medical technology company's stock after selling 240,492 shares during the quarter. Stryker comprises about 58.0% of First Western Trust Bank's portfolio, making the stock its biggest holding. First Western Trust Bank owned approximately 0.85% of Stryker worth $1,211,828,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of SYK. Capital A Wealth Management LLC purchased a new stake in shares of Stryker during the fourth quarter worth $26,000. Goodman Advisory Group LLC acquired a new position in shares of Stryker during the 1st quarter valued at about $32,000. City Holding Co. boosted its position in shares of Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after acquiring an additional 74 shares during the last quarter. Smallwood Wealth Investment Management LLC acquired a new position in shares of Stryker during the 1st quarter valued at about $40,000. Finally, Itau Unibanco Holding S.A. acquired a new position in shares of Stryker during the 4th quarter valued at about $42,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Stryker Stock Down 0.0%

Shares of SYK traded down $0.17 during mid-day trading on Tuesday, hitting $376.50. 960,134 shares of the company's stock were exchanged, compared to its average volume of 1,440,119. The company has a market cap of $143.94 billion, a price-to-earnings ratio of 49.87, a P/E/G ratio of 2.74 and a beta of 0.91. Stryker Corporation has a fifty-two week low of $325.37 and a fifty-two week high of $406.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. The stock's 50-day moving average is $387.08 and its 200-day moving average is $379.86.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings results 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. The business had revenue of $6.02 billion for the quarter, compared to analysts' expectations of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The business's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.81 earnings per share. On average, sell-side analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

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

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the sale, the director directly owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.20% of the company's stock.

Analysts Set New Price Targets

SYK has been the topic of several recent research reports. Roth Mkm boosted their price target on shares of Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Truist Financial set a $415.00 price target on shares of Stryker and gave the company a "hold" rating in a research report on Monday, August 4th. Needham & Company LLC boosted their price target on shares of Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Wells Fargo & Company boosted their price target on shares of Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $430.10.

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.