First Citizens Bank & Trust Co. Raises Stock Holdings in Stryker Co. (NYSE:SYK)

First Citizens Bank & Trust Co. boosted its holdings in shares of Stryker Co. (NYSE:SYK) by 1.1% during the third quarter, HoldingsChannel.com reports. The firm owned 6,263 shares of the medical technology company’s stock after purchasing an additional 68 shares during the period. First Citizens Bank & Trust Co.’s holdings in Stryker were worth $1,355,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. boosted its position in Stryker by 2.1% during the second quarter. Vanguard Group Inc. now owns 26,735,288 shares of the medical technology company’s stock worth $5,496,241,000 after purchasing an additional 555,327 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Stryker by 0.5% during the second quarter. Northern Trust Corp now owns 3,922,830 shares of the medical technology company’s stock valued at $806,455,000 after acquiring an additional 19,248 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Stryker by 20,218.6% during the second quarter. Nuveen Asset Management LLC now owns 2,596,110 shares of the medical technology company’s stock valued at $533,708,000 after acquiring an additional 2,583,333 shares during the last quarter. Morgan Stanley raised its holdings in shares of Stryker by 3.4% during the second quarter. Morgan Stanley now owns 1,826,762 shares of the medical technology company’s stock valued at $375,547,000 after acquiring an additional 59,305 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Stryker by 3.4% during the second quarter. Charles Schwab Investment Management Inc. now owns 1,357,591 shares of the medical technology company’s stock valued at $279,094,000 after acquiring an additional 44,907 shares during the last quarter. Institutional investors own 73.04% of the company’s stock.

In related news, COO Timothy J. Scannell sold 4,666 shares of the stock in a transaction that occurred on Friday, August 16th. The stock was sold at an average price of $217.08, for a total value of $1,012,895.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Glenn S. Boehnlein sold 2,700 shares of the stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $214.16, for a total value of $578,232.00. Following the completion of the sale, the chief financial officer now directly owns 20,633 shares of the company’s stock, valued at approximately $4,418,763.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,637 shares of company stock valued at $11,280,427. Insiders own 7.20% of the company’s stock.

NYSE:SYK opened at $215.32 on Friday. Stryker Co. has a one year low of $144.75 and a one year high of $223.45. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.26 and a current ratio of 2.07. The stock has a market cap of $80.64 billion, a PE ratio of 29.46, a P/E/G ratio of 2.61 and a beta of 0.81. The stock has a 50 day moving average price of $216.70 and a 200 day moving average price of $203.65.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Thursday, July 25th. The medical technology company reported $1.98 EPS for the quarter, beating the consensus estimate of $1.93 by $0.05. Stryker had a return on equity of 25.98% and a net margin of 24.99%. The firm had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.60 billion. During the same quarter last year, the firm earned $1.76 earnings per share. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. As a group, analysts predict that Stryker Co. will post 8.21 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a $0.52 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.08 annualized dividend and a dividend yield of 0.97%. Stryker’s dividend payout ratio is presently 28.45%.

SYK has been the subject of a number of research analyst reports. Robert W. Baird increased their target price on Stryker from $206.00 to $239.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Raymond James set a $240.00 target price on Stryker and gave the company a “buy” rating in a report on Friday, July 26th. ValuEngine cut Stryker from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. Cantor Fitzgerald increased their target price on Stryker from $190.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, Canaccord Genuity increased their target price on Stryker from $195.00 to $233.00 and gave the company a “buy” rating in a report on Friday, July 26th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $214.89.

About Stryker

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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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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