Sumitomo Mitsui DS Asset Management Company Ltd Boosts Holdings in Stryker Co. (NYSE:SYK)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in shares of Stryker Co. (NYSE:SYK) by 1.2% in the fourth quarter, HoldingsChannel reports. The fund owned 54,414 shares of the medical technology company’s stock after purchasing an additional 632 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Stryker were worth $16,295,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Keybank National Association OH raised its holdings 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 worth $7,603,000 after buying an additional 952 shares during the last quarter. Carnegie Capital Asset Management LLC raised its holdings 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 worth $28,820,000 after buying an additional 497 shares during the last quarter. CoreCap Advisors LLC raised its holdings 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 worth $1,506,000 after buying an additional 191 shares during the last quarter. DNB Asset Management AS raised its holdings in shares of Stryker by 5.7% in the fourth quarter. DNB Asset Management AS now owns 76,413 shares of the medical technology company’s stock worth $22,883,000 after buying an additional 4,143 shares during the last quarter. Finally, LGT Capital Partners LTD. raised its holdings in shares of Stryker by 24.4% in the fourth quarter. LGT Capital Partners LTD. now owns 434,997 shares of the medical technology company’s stock worth $130,264,000 after buying an additional 85,240 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on SYK. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and raised their price target for the stock from $315.00 to $360.00 in a report on Wednesday, January 31st. Wells Fargo & Company increased their price objective on shares of Stryker from $336.00 to $364.00 and gave the company an “overweight” rating in a report on Wednesday, January 31st. Citigroup raised their price target on shares of Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. TD Cowen lifted their target price on shares of Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, April 11th. Finally, Truist Financial lifted their target price on shares of Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a research note on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $340.45.

Insider Buying and Selling at Stryker

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction dated Thursday, March 7th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of Stryker stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the transaction, the director now directly owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the transaction, the chief accounting officer now directly owns 3,675 shares in the company, valued at $1,317,414. The disclosure for this sale can be found here. In the last three months, insiders sold 212,109 shares of company stock worth $72,845,768. 5.90% of the stock is owned by corporate insiders.

Stryker Price Performance

Shares of SYK traded down $2.02 during trading hours on Friday, reaching $325.43. The company had a trading volume of 1,884,151 shares, compared to its average volume of 959,865. The firm has a 50 day simple moving average of $350.01 and a 200-day simple moving average of $312.82. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $123.82 billion, a price-to-earnings ratio of 39.45, a PEG ratio of 2.62 and a beta of 0.89. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $361.41.

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

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be issued a dividend of $0.80 per share. The ex-dividend date is Wednesday, March 27th. This represents a $3.20 annualized dividend and a yield of 0.98%. Stryker’s dividend payout ratio (DPR) is currently 38.79%.

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.