Farmers Trust Co. Sells 402 Shares of Stryker Co. (NYSE:SYK)

Farmers Trust Co. lessened its stake in shares of Stryker Co. (NYSE:SYK) by 2.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,048 shares of the medical technology company’s stock after selling 402 shares during the quarter. Stryker makes up 1.2% of Farmers Trust Co.’s holdings, making the stock its 28th biggest holding. Farmers Trust Co.’s holdings in Stryker were worth $5,743,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV grew its stake in shares of Stryker by 12.4% during the first quarter. Massmutual Trust Co. FSB ADV now owns 65,532 shares of the medical technology company’s stock worth $23,452,000 after buying an additional 7,211 shares during the last quarter. Rise Advisors LLC grew its stake in shares of Stryker by 144.6% during the first quarter. Rise Advisors LLC now owns 274 shares of the medical technology company’s stock worth $98,000 after buying an additional 162 shares during the last quarter. Ferguson Wellman Capital Management Inc. grew its stake in shares of Stryker by 34.3% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 177,707 shares of the medical technology company’s stock worth $63,596,000 after buying an additional 45,368 shares during the last quarter. Mather Group LLC. grew its stake in shares of Stryker by 3.7% during the first quarter. Mather Group LLC. now owns 6,157 shares of the medical technology company’s stock worth $2,203,000 after buying an additional 220 shares during the last quarter. Finally, Tompkins Financial Corp grew its stake in shares of Stryker by 2.7% during the first quarter. Tompkins Financial Corp now owns 16,677 shares of the medical technology company’s stock worth $5,968,000 after buying an additional 445 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on SYK shares. Robert W. Baird lifted their price target on shares of Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Evercore ISI boosted their target price on shares of Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a report on Thursday, April 4th. Roth Mkm upped their price objective on shares of Stryker from $348.00 to $405.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Needham & Company LLC upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $392.00 price objective on the stock in a report on Wednesday, May 22nd. Finally, The Goldman Sachs Group assumed coverage on shares of Stryker in a research note on Thursday, May 30th. They issued a “neutral” rating and a $372.00 target price on the stock. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and a consensus price target of $370.58.

Stryker Price Performance

NYSE SYK traded down $2.09 on Thursday, hitting $346.58. The stock had a trading volume of 256,812 shares, compared to its average volume of 1,306,810. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $361.41. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.71. The company has a market capitalization of $132.03 billion, a price-to-earnings ratio of 39.80, a price-to-earnings-growth ratio of 2.75 and a beta of 0.92. The firm has a 50-day moving average of $336.77 and a 200-day moving average of $331.22.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.14 EPS. Equities analysts expect that Stryker Co. will post 11.95 EPS for the current year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Friday, June 28th. Stryker’s payout ratio is 36.53%.

About Stryker

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.