First Interstate Bank Has $716,000 Stock Holdings in Stryker Co. (NYSE:SYK)

First Interstate Bank cut its stake in shares of Stryker Co. (NYSE:SYK) by 3.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,390 shares of the medical technology company’s stock after selling 82 shares during the period. First Interstate Bank’s holdings in Stryker were worth $716,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Keybank National Association OH lifted its position in shares of Stryker by 3.5% in the third quarter. Keybank National Association OH now owns 27,823 shares of the medical technology company’s stock valued at $7,603,000 after buying an additional 952 shares during the last quarter. Carnegie Capital Asset Management LLC lifted its position in shares of Stryker by 0.5% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 96,241 shares of the medical technology company’s stock valued at $28,820,000 after buying an additional 497 shares during the last quarter. CoreCap Advisors LLC lifted its position in shares of Stryker by 3.9% in the fourth quarter. CoreCap Advisors LLC now owns 5,030 shares of the medical technology company’s stock valued at $1,506,000 after buying an additional 191 shares during the last quarter. DNB Asset Management AS increased its stake in shares of Stryker by 5.7% during the fourth quarter. DNB Asset Management AS now owns 76,413 shares of the medical technology company’s stock worth $22,883,000 after purchasing an additional 4,143 shares during the period. Finally, LGT Capital Partners LTD. increased its stake in shares of Stryker by 24.4% during the fourth quarter. LGT Capital Partners LTD. now owns 434,997 shares of the medical technology company’s stock worth $130,264,000 after purchasing an additional 85,240 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SYK has been the topic of a number of recent research reports. Citigroup raised their price objective on Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Roth Mkm raised their price objective on Stryker from $345.00 to $348.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. TD Cowen raised their price objective on Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Finally, Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and set a $360.00 price objective on the stock in a research note on Wednesday, January 31st. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and an average target price of $339.22.

Stryker Stock Performance

Shares of NYSE SYK traded down $1.59 during midday trading on Tuesday, reaching $337.54. The company’s stock had a trading volume of 1,239,332 shares, compared to its average volume of 1,254,691. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $361.41. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.58 and a quick ratio of 0.97. The firm has a 50 day moving average price of $350.75 and a 200-day moving average price of $311.41. The stock has a market capitalization of $128.42 billion, a P/E ratio of 41.14, a PEG ratio of 2.75 and a beta of 0.89.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, beating the consensus estimate of $3.27 by $0.19. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The business had revenue of $5.82 billion for the quarter, compared to the consensus estimate of $5.60 billion. During the same quarter in the prior year, the business earned $3.00 earnings per share. Stryker’s revenue for the quarter was up 11.8% on a year-over-year basis. As a group, equities analysts predict that Stryker Co. will post 11.86 earnings per share for the current year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.20 annualized dividend and a dividend yield of 0.95%. Stryker’s dividend payout ratio is currently 38.79%.

Insiders Place Their Bets

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the sale, the chief accounting officer now owns 3,675 shares in the company, valued at $1,317,414. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director Allan C. Golston sold 3,273 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the transaction, the director now owns 14,242 shares of the company’s stock, valued at $4,856,522. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,675 shares in the company, valued at approximately $1,317,414. The disclosure for this sale can be found here. Insiders have sold a total of 212,109 shares of company stock worth $72,845,768 over the last 90 days. Corporate insiders own 5.50% of the company’s stock.

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.