First Western Trust Bank Has $1.21 Billion Position in Stryker Corporation (NYSE:SYK)

First Western Trust Bank lessened its stake in Stryker Corporation (NYSE:SYK) by 6.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 investment portfolio, making the stock its largest holding. First Western Trust Bank’s holdings in Stryker were worth $1,211,828,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SYK. Elefante Mark B acquired a new stake in shares of Stryker during the fourth quarter worth about $337,000. Mogy Joel R Investment Counsel Inc. grew its stake in shares of Stryker by 3.4% during the 1st quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company’s stock worth $36,561,000 after acquiring an additional 3,218 shares in the last quarter. Ferguson Wellman Capital Management Inc. grew its stake in shares of Stryker by 1.9% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company’s stock worth $65,096,000 after acquiring an additional 3,341 shares in the last quarter. Harbor Capital Advisors Inc. bought a new position in shares of Stryker during the 1st quarter worth approximately $1,840,000. Finally, Mar Vista Investment Partners LLC grew its stake in Stryker by 10.2% in the first quarter. Mar Vista Investment Partners LLC now owns 90,187 shares of the medical technology company’s stock valued at $33,572,000 after purchasing an additional 8,353 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of analyst reports. Sanford C. Bernstein set a $450.00 price target on Stryker in a research note on Monday, May 5th. Truist Financial set a $415.00 price target on Stryker and gave the company a “hold” rating in a research note on Monday, August 4th. JMP Securities restated a “market perform” rating on shares of Stryker in a research note on Monday, May 5th. Roth Mkm raised their price target on Stryker from $405.00 to $456.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. Finally, Evercore ISI raised their price target on Stryker from $390.00 to $415.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and a consensus target price of $430.10.

Stryker Stock Performance

SYK opened at $377.73 on Friday. The business has a fifty day simple moving average of $387.17 and a 200 day simple moving average of $380.15. The company has a market capitalization of $144.41 billion, a PE ratio of 50.03, a price-to-earnings-growth ratio of 2.74 and a beta of 0.91. Stryker Corporation has a 1 year low of $322.03 and a 1 year high of $406.19. 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) last announced its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.07 by $0.06. The firm had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.81 EPS. Research analysts expect that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

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 issued a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.36 annualized dividend and a yield of 0.9%. Stryker’s payout ratio is currently 44.50%.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of Stryker 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 completion of the transaction, the director directly owned 3,222,108 shares of the company’s stock, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 5.90% of the stock is owned by corporate 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.