First Citizens Bank & Trust Co. Buys 187 Shares of Stryker Co. (NYSE:SYK)

First Citizens Bank & Trust Co. increased its position in Stryker Co. (NYSE:SYK) by 0.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,012 shares of the medical technology company’s stock after acquiring an additional 187 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Stryker were worth $8,313,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Koshinski Asset Management Inc. bought a new position in Stryker in the 1st quarter worth about $795,000. Envestnet Portfolio Solutions Inc. raised its stake in Stryker by 43.1% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock valued at $6,617,000 after purchasing an additional 5,565 shares in the last quarter. Norden Group LLC bought a new stake in Stryker during the first quarter valued at approximately $4,027,000. International Assets Investment Management LLC purchased a new position in Stryker in the 1st quarter worth approximately $21,970,000. Finally, BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Stryker by 38.5% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock worth $7,084,000 after buying an additional 5,502 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

Stryker stock opened at $369.56 on Friday. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. The company has a fifty day simple moving average of $355.79 and a 200-day simple moving average of $343.31. The stock has a market cap of $140.78 billion, a P/E ratio of 42.19, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. Stryker Co. has a 12-month low of $255.22 and a 12-month high of $374.63.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.02. The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.54 EPS. Equities analysts expect that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is 36.53%.

Insider Buying and Selling at Stryker

In other news, insider Viju Menon sold 600 shares of Stryker stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the sale, the vice president now owns 10,042 shares in the company, valued at approximately $3,685,213.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 220,068 shares of company stock worth $71,811,372. 5.90% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages recently issued reports on SYK. BTIG Research upped their target price on shares of Stryker from $374.00 to $383.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Truist Financial boosted their price target on Stryker from $345.00 to $370.00 and gave the company a “hold” rating in a report on Monday, October 14th. Royal Bank of Canada reiterated an “outperform” rating and set a $386.00 price target on shares of Stryker in a research report on Wednesday, July 31st. UBS Group upped their price objective on Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, Evercore ISI increased their price objective on shares of Stryker from $365.00 to $380.00 and gave the company an “outperform” rating in a research report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $381.16.

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.