Stryker Co. (NYSE:SYK) Shares Sold by First Financial Bank Trust Division

First Financial Bank Trust Division lowered its stake in shares of Stryker Co. (NYSE:SYK) by 1.9% during the fourth quarter, Holdings Channel reports. The fund owned 43,671 shares of the medical technology company’s stock after selling 854 shares during the quarter. Stryker comprises 1.5% of First Financial Bank Trust Division’s portfolio, making the stock its 17th biggest holding. First Financial Bank Trust Division’s holdings in Stryker were worth $15,724,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYK. Dunhill Financial LLC boosted its holdings in shares of Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 37 shares during the last quarter. Centennial Bank AR grew its holdings in Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after buying an additional 48 shares during the period. Darwin Wealth Management LLC acquired a new position in shares of Stryker during the 3rd quarter valued at about $36,000. HBW Advisory Services LLC purchased a new position in shares of Stryker during the 3rd quarter worth about $42,000. Finally, Hara Capital LLC acquired a new stake in shares of Stryker in the third quarter worth approximately $42,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Down 0.4 %

SYK stock traded down $1.33 during midday trading on Thursday, reaching $358.72. The company had a trading volume of 853,949 shares, compared to its average volume of 1,259,607. The company has a market capitalization of $136.75 billion, a P/E ratio of 38.45, a PEG ratio of 2.82 and a beta of 0.94. Stryker Co. has a 1 year low of $292.43 and a 1 year high of $398.20. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The company has a 50 day moving average of $375.08 and a two-hundred day moving average of $356.95.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.46 EPS. On average, equities research analysts expect that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.84 per share. The ex-dividend date is Tuesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.94%. Stryker’s payout ratio is currently 36.01%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Evercore ISI increased their price target on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Wolfe Research started coverage on Stryker in a report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price on the stock. JPMorgan Chase & Co. upped their price target on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their price objective on Stryker from $405.00 to $427.00 and gave the company an “overweight” rating in a research note on Wednesday, December 11th. Finally, Truist Financial lifted their price target on shares of Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $405.80.

Insider Activity

In related news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 5.90% of the company’s stock.

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.