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

First Financial Bank Trust Division grew its position in shares of Stryker Co. (NYSE:SYK) by 0.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 59,380 shares of the medical technology company’s stock after purchasing an additional 426 shares during the period. Stryker accounts for about 1.9% of First Financial Bank Trust Division’s investment portfolio, making the stock its 12th largest position. First Financial Bank Trust Division’s holdings in Stryker were worth $18,116,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Fairfield Bush & CO. acquired a new stake in shares of Stryker in the first quarter worth approximately $131,000. Dimensional Fund Advisors LP boosted its position in shares of Stryker by 1.4% in the first quarter. Dimensional Fund Advisors LP now owns 673,924 shares of the medical technology company’s stock worth $180,182,000 after acquiring an additional 9,026 shares during the last quarter. Prudential PLC acquired a new stake in shares of Stryker in the first quarter worth approximately $1,444,000. Sequoia Financial Advisors LLC boosted its position in shares of Stryker by 21.6% in the first quarter. Sequoia Financial Advisors LLC now owns 3,056 shares of the medical technology company’s stock worth $817,000 after acquiring an additional 543 shares during the last quarter. Finally, Zions Bancorporation N.A. boosted its position in shares of Stryker by 9.2% in the first quarter. Zions Bancorporation N.A. now owns 3,140 shares of the medical technology company’s stock worth $839,000 after acquiring an additional 265 shares during the last quarter. 76.24% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on SYK shares. Truist Financial raised their target price on shares of Stryker from $300.00 to $310.00 in a research report on Wednesday, July 19th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $325.00 price target on shares of Stryker in a research report on Thursday, August 17th. Barclays lifted their price target on shares of Stryker from $321.00 to $335.00 and gave the company an “overweight” rating in a research report on Monday, August 7th. Bank of America raised shares of Stryker from a “neutral” rating to a “buy” rating and lifted their price target for the company from $310.00 to $315.00 in a research report on Tuesday, September 5th. Finally, BTIG Research lifted their price target on shares of Stryker from $313.00 to $331.00 in a research report on Monday, July 17th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $309.59.

Stryker Stock Up 0.9 %

Shares of NYSE:SYK opened at $297.32 on Thursday. The company has a current ratio of 1.54, a quick ratio of 0.84 and a debt-to-equity ratio of 0.64. The company has a fifty day simple moving average of $286.94 and a 200 day simple moving average of $285.29. The firm has a market cap of $112.92 billion, a PE ratio of 41.99, a price-to-earnings-growth ratio of 2.79 and a beta of 0.95. Stryker Co. has a 12-month low of $200.80 and a 12-month high of $306.93.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, August 3rd. The medical technology company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.38 by $0.16. The business had revenue of $5 billion during the quarter, compared to analyst estimates of $4.83 billion. Stryker had a net margin of 13.92% and a return on equity of 22.31%. The business’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.25 earnings per share. On average, equities research analysts anticipate that Stryker Co. will post 10.37 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be paid a dividend of $0.75 per share. The ex-dividend date is Thursday, September 28th. This represents a $3.00 annualized dividend and a yield of 1.01%. Stryker’s payout ratio is 42.37%.

Insider Activity

In other news, insider Viju Menon sold 5,000 shares of the business’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $289.00, for a total transaction of $1,445,000.00. Following the completion of the transaction, the insider now owns 6,994 shares of the company’s stock, valued at $2,021,266. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 5.90% of the company’s stock.

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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.