First Interstate Bank Decreases Holdings in Stryker Co. (NYSE:SYK)

First Interstate Bank trimmed its holdings in shares of Stryker Co. (NYSE:SYK) by 3.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,390 shares of the medical technology company’s stock after selling 82 shares during the period. First Interstate Bank’s holdings in Stryker were worth $716,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the business. Freedom Wealth Alliance LLC acquired a new stake in shares of Stryker during the fourth quarter worth about $26,000. Farmers & Merchants Trust Co of Chambersburg PA increased its position in shares of Stryker by 203.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 61 shares in the last quarter. Quarry LP acquired a new stake in shares of Stryker during the first quarter worth about $27,000. HBC Financial Services PLLC acquired a new stake in shares of Stryker during the fourth quarter worth about $37,000. Finally, Bourgeon Capital Management LLC acquired a new position in Stryker in the 4th quarter valued at about $37,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the transaction, the director now directly owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the transaction, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at $1,317,414. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the transaction, the director now owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The disclosure for this sale can be found here. Insiders sold a total of 212,109 shares of company stock worth $72,845,768 in the last ninety days. Insiders own 5.50% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on SYK. Roth Mkm boosted their price target on Stryker from $345.00 to $348.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. Citigroup boosted their price target on Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. TD Cowen boosted their price target on Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Wells Fargo & Company lifted their price objective on Stryker from $336.00 to $364.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. Finally, Truist Financial lifted their price objective on Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a report on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $339.22.

Stryker Price Performance

SYK stock traded down $1.59 on Tuesday, reaching $337.54. The company had a trading volume of 1,239,332 shares, compared to its average volume of 1,254,691. The company’s fifty day moving average is $350.75 and its 200 day moving average is $311.41. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58. The company has a market cap of $128.42 billion, a P/E ratio of 41.14, a PEG ratio of 2.75 and a beta of 0.89. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $361.41.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, beating the consensus estimate of $3.27 by $0.19. The company had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.60 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. Stryker’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm posted $3.00 EPS. On average, research analysts forecast that Stryker Co. will post 11.86 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be issued a dividend of $0.80 per share. The ex-dividend date is Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.95%. Stryker’s payout ratio is 38.79%.

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.