Stryker Co. (NYSE:SYK) Stock Position Trimmed by First Western Trust Bank

First Western Trust Bank cut its position in shares of Stryker Co. (NYSE:SYK) by 0.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,497,138 shares of the medical technology company’s stock after selling 2,595 shares during the quarter. Stryker makes up about 56.8% of First Western Trust Bank’s investment portfolio, making the stock its largest position. First Western Trust Bank owned 0.92% of Stryker worth $1,263,376,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. International Assets Investment Management LLC grew its holdings in Stryker by 66,967.5% in the 3rd quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock worth $308,433,000 after acquiring an additional 852,496 shares during the last quarter. 1832 Asset Management L.P. grew its position in Stryker by 146.9% during the 1st quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock valued at $314,449,000 after purchasing an additional 522,817 shares during the last quarter. American Century Companies Inc. raised its holdings in Stryker by 287.6% in the 2nd quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock worth $172,033,000 after acquiring an additional 375,166 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in Stryker by 49.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 686,416 shares of the medical technology company’s stock worth $233,553,000 after buying an additional 228,139 shares in the last quarter. Finally, Sofinnova Investments Inc. purchased a new position in shares of Stryker during the second quarter valued at approximately $65,697,000. 77.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SYK has been the topic of several research reports. BTIG Research raised their target price on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and set a $420.00 price target (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Canaccord Genuity Group lifted their target price on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Wolfe Research initiated coverage on Stryker in a report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price target on the stock. Finally, Barclays increased their target price on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker Price Performance

Stryker stock opened at $390.08 on Monday. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. Stryker Co. has a 52-week low of $282.35 and a 52-week high of $392.70. The firm has a market cap of $148.71 billion, a PE ratio of 41.81, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91. The company’s 50 day moving average is $364.07 and its two-hundred day moving average is $347.54.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.77 by $0.10. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. Stryker’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.46 EPS. On average, research analysts expect that Stryker Co. will post 12.06 EPS for the current fiscal year.

Insider Activity at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Viju Menon sold 600 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. This trade represents a 6.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 67,381 shares of company stock valued at $24,825,275 over the last 90 days. 5.50% of the stock is owned by corporate insiders.

Stryker Company 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.