First Financial Bank Trust Division Has $18.06 Million Position in Stryker Co. (NYSE:SYK)

First Financial Bank Trust Division lowered its stake in shares of Stryker Co. (NYSE:SYKFree Report) by 7.7% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 50,460 shares of the medical technology company’s stock after selling 4,201 shares during the period. Stryker makes up 1.7% of First Financial Bank Trust Division’s investment portfolio, making the stock its 13th biggest holding. First Financial Bank Trust Division’s holdings in Stryker were worth $18,058,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in SYK. Prudential PLC raised its position in Stryker by 10.5% in the third quarter. Prudential PLC now owns 14,457 shares of the medical technology company’s stock worth $3,951,000 after purchasing an additional 1,371 shares in the last quarter. Rafferty Asset Management LLC raised its position in Stryker by 7.9% in the third quarter. Rafferty Asset Management LLC now owns 35,267 shares of the medical technology company’s stock worth $9,637,000 after purchasing an additional 2,574 shares in the last quarter. QRG Capital Management Inc. acquired a new position in Stryker in the third quarter worth about $2,930,000. Envestnet Portfolio Solutions Inc. acquired a new position in Stryker in the third quarter worth about $5,302,000. Finally, Envestnet Asset Management Inc. raised its position in Stryker by 28.6% in the third quarter. Envestnet Asset Management Inc. now owns 679,432 shares of the medical technology company’s stock worth $185,668,000 after purchasing an additional 150,903 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Trading Up 0.7 %

SYK traded up $2.45 during mid-day trading on Tuesday, hitting $347.15. The stock had a trading volume of 310,716 shares, compared to its average volume of 1,311,215. The stock’s fifty day simple moving average is $336.78 and its 200-day simple moving average is $330.74. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.99. The firm has a market capitalization of $132.25 billion, a price-to-earnings ratio of 39.35, a price-to-earnings-growth ratio of 2.72 and a beta of 0.92. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $361.41.

Stryker (NYSE:SYKGet Free Report) last posted its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. The company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the business posted $2.14 earnings per share. As a group, research analysts forecast that Stryker Co. will post 11.95 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.20 annualized dividend and a yield of 0.92%. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Wall Street Analyst Weigh In

SYK has been the subject of several recent analyst reports. The Goldman Sachs Group initiated coverage on shares of Stryker in a report on Thursday, May 30th. They set a “neutral” rating and a $372.00 price objective for the company. Needham & Company LLC raised shares of Stryker from a “hold” rating to a “buy” rating and set a $392.00 price objective for the company in a report on Wednesday, May 22nd. UBS Group raised their price objective on shares of Stryker from $339.00 to $351.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Stifel Nicolaus raised their price objective on shares of Stryker from $350.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, Citigroup increased their price target on shares of Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Five research 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, the company presently has an average rating of “Moderate Buy” and an average target price of $370.58.

View Our Latest Stock Analysis on Stryker

Stryker Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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