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

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

A number of other large investors have also made changes to their positions in SYK. Dunhill Financial LLC raised its holdings in Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 37 shares during the last quarter. Centennial Bank AR grew its position in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares during the period. Darwin Wealth Management LLC acquired a new position in Stryker in the third quarter valued at $36,000. HBW Advisory Services LLC purchased a new position in Stryker during the third quarter worth about $42,000. Finally, Hara Capital LLC acquired a new stake in Stryker in the 3rd quarter worth about $42,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Piper Sandler reaffirmed an “overweight” rating and set a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. Needham & Company LLC reiterated a “buy” rating and issued a $442.00 price target on shares of Stryker in a report on Tuesday. Robert W. Baird upped their price objective on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Citigroup increased their target price on Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $405.80.

Stryker Trading Up 2.5 %

SYK opened at $364.19 on Thursday. The firm’s 50 day moving average is $375.26 and its 200-day moving average is $357.47. The firm has a market capitalization of $138.84 billion, a P/E ratio of 39.03, a P/E/G ratio of 2.82 and a beta of 0.95. Stryker Co. has a 52-week low of $298.52 and a 52-week high of $398.20. 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 (NYSE:SYK) last announced its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period last year, the firm earned $2.46 earnings per share. The company’s revenue was up 11.9% on a year-over-year basis. Analysts expect that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Increases Dividend

The firm also recently announced 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 boost from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker’s dividend payout ratio is 36.01%.

Insider Transactions at Stryker

In related news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.50% of the company’s stock.

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.