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

First Western Trust Bank lowered its position in Stryker Corporation (NYSE:SYK) by 6.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,255,414 shares of the medical technology company’s stock after selling 240,492 shares during the quarter. Stryker accounts for about 58.0% of First Western Trust Bank’s holdings, making the stock its largest position. First Western Trust Bank owned 0.85% of Stryker worth $1,211,828,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of SYK. Brighton Jones LLC lifted its position in shares of Stryker by 15.4% in the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock worth $1,643,000 after acquiring an additional 609 shares during the period. DRW Securities LLC bought a new stake in shares of Stryker in the 4th quarter worth approximately $256,000. Legacy Financial Advisors Inc. raised its holdings in shares of Stryker by 20.5% in the 4th quarter. Legacy Financial Advisors Inc. now owns 1,099 shares of the medical technology company’s stock worth $396,000 after buying an additional 187 shares in the last quarter. Kennedy Capital Management LLC raised its holdings in shares of Stryker by 116.6% in the 4th quarter. Kennedy Capital Management LLC now owns 9,753 shares of the medical technology company’s stock worth $3,512,000 after buying an additional 5,251 shares in the last quarter. Finally, First Foundation Advisors raised its holdings in shares of Stryker by 6.2% in the 4th quarter. First Foundation Advisors now owns 804 shares of the medical technology company’s stock worth $289,000 after buying an additional 47 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company increased their target price on Stryker from $435.00 to $445.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Sanford C. Bernstein set a $450.00 target price on Stryker in a report on Monday, May 5th. Evercore ISI increased their target price on Stryker from $390.00 to $415.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a report on Friday, July 18th. Finally, BTIG Research reissued a “buy” rating on shares of Stryker in a report on Monday, July 14th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $430.10.

Insider Activity at Stryker

In other 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 sale, the director directly owned 3,222,108 shares of the company’s stock, valued at approximately $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.90% of the company’s stock.

Stryker Stock Up 0.4%

NYSE SYK opened at $377.73 on Friday. The stock has a fifty day moving average of $387.17 and a 200-day moving average of $380.15. The stock has a market capitalization of $144.41 billion, a P/E ratio of 50.03, a price-to-earnings-growth ratio of 2.74 and a beta of 0.91. Stryker Corporation has a 52 week low of $322.03 and a 52 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.

Stryker (NYSE:SYK) last released its earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, beating the consensus estimate of $3.07 by $0.06. The company 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 business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the firm earned $2.81 EPS. On average, equities research analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker’s dividend payout ratio (DPR) is 44.50%.

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.