First Hawaiian Bank raised its stake in Stryker Co. (NYSE:SYK) by 15.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,503 shares of the medical technology company’s stock after acquiring an additional 1,633 shares during the period. First Hawaiian Bank’s holdings in Stryker were worth $1,959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in SYK. FMR LLC boosted its stake in Stryker by 24.0% in the second quarter. FMR LLC now owns 5,327,862 shares of the medical technology company’s stock valued at $899,662,000 after acquiring an additional 1,032,333 shares in the last quarter. Van ECK Associates Corp purchased a new stake in shares of Stryker in the second quarter valued at about $683,000. BB&T Securities LLC raised its holdings in shares of Stryker by 14.0% in the second quarter. BB&T Securities LLC now owns 20,331 shares of the medical technology company’s stock valued at $3,433,000 after buying an additional 2,502 shares during the last quarter. Voya Investment Management LLC raised its holdings in shares of Stryker by 2.6% in the second quarter. Voya Investment Management LLC now owns 122,927 shares of the medical technology company’s stock valued at $20,758,000 after buying an additional 3,133 shares during the last quarter. Finally, Macquarie Group Ltd. raised its holdings in shares of Stryker by 4.8% in the second quarter. Macquarie Group Ltd. now owns 114,822 shares of the medical technology company’s stock valued at $19,389,000 after buying an additional 5,207 shares during the last quarter. Institutional investors own 73.30% of the company’s stock.
In other Stryker news, insider Timothy J. Scannell sold 9,332 shares of the stock in a transaction dated Tuesday, December 18th. The shares were sold at an average price of $161.60, for a total value of $1,508,051.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Bijoy Sagar sold 2,361 shares of the stock in a transaction dated Friday, December 7th. The shares were sold at an average price of $171.24, for a total transaction of $404,297.64. Following the completion of the transaction, the vice president now directly owns 2,361 shares of the company’s stock, valued at $404,297.64. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 12,108 shares of company stock valued at $1,981,471. 7.30% of the stock is currently owned by corporate insiders.
Stryker (NYSE:SYK) last issued its earnings results on Thursday, October 25th. The medical technology company reported $1.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.01. Stryker had a net margin of 9.31% and a return on equity of 28.00%. The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.26 billion. As a group, sell-side analysts predict that Stryker Co. will post 7.28 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Monday, December 31st will be issued a $0.52 dividend. The ex-dividend date is Friday, December 28th. This is a boost from Stryker’s previous quarterly dividend of $0.47. This represents a $2.08 dividend on an annualized basis and a yield of 1.30%. Stryker’s dividend payout ratio (DPR) is 32.05%.
A number of equities research analysts have recently commented on the stock. Deutsche Bank assumed coverage on shares of Stryker in a report on Wednesday, January 2nd. They issued a “buy” rating and a $179.00 target price for the company. Morgan Stanley cut their price target on shares of Stryker from $212.00 to $197.00 and set an “overweight” rating for the company in a report on Wednesday, January 2nd. Citigroup cut their price target on shares of Stryker from $174.00 to $169.00 and set a “neutral” rating for the company in a report on Wednesday, January 2nd. Evercore ISI raised shares of Stryker from an “in-line” rating to an “outperform” rating and set a $156.75 price target for the company in a report on Wednesday, January 2nd. Finally, Zacks Investment Research reissued a “hold” rating and set a $162.00 price target on shares of Stryker in a report on Monday, December 31st. Eight analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Stryker has a consensus rating of “Buy” and an average price target of $181.68.
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Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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