First Hawaiian Bank Reduces Position in Stryker Co. (NYSE:SYK)

First Hawaiian Bank reduced its position in shares of Stryker Co. (NYSE:SYK) by 4.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 8,361 shares of the medical technology company’s stock after selling 390 shares during the period. First Hawaiian Bank’s holdings in Stryker were worth $3,010,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of SYK. Parnassus Investments LLC purchased a new stake in shares of Stryker during the 3rd quarter worth approximately $762,798,000. International Assets Investment Management LLC lifted its position in Stryker by 66,967.5% in the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock valued at $308,433,000 after acquiring an additional 852,496 shares during the last quarter. RTW Investments LP acquired a new position in Stryker in the third quarter valued at $143,392,000. American Century Companies Inc. grew its holdings in shares of Stryker by 287.6% during the second quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock worth $172,033,000 after purchasing an additional 375,166 shares during the last quarter. Finally, State Street Corp increased its position in shares of Stryker by 2.2% during the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after purchasing an additional 316,404 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Buying and Selling

In related news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.50% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on SYK. Evercore ISI raised their price target on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Thursday. BTIG Research upped their price target on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Robert W. Baird raised their price objective on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Canaccord Genuity Group upped their target price on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $405.80.

Stryker Trading Up 2.5 %

Shares of SYK stock opened at $364.19 on Thursday. Stryker Co. has a 1-year low of $298.52 and a 1-year high of $398.20. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The business’s fifty day moving average price is $375.26 and its 200 day moving average price is $357.47. The firm has a market capitalization of $138.84 billion, a PE ratio of 39.03, a P/E/G ratio of 2.82 and a beta of 0.95.

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

Stryker Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.84 per share. This is a positive change from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.92%. Stryker’s payout ratio is 36.01%.

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.