Dai ichi Life Insurance Company Ltd Lowers Holdings in Stryker Co. (NYSE:SYK)

Dai ichi Life Insurance Company Ltd decreased its position in Stryker Co. (NYSE:SYKFree Report) by 12.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 21,828 shares of the medical technology company’s stock after selling 3,105 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Stryker were worth $6,537,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in Stryker by 203.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after buying an additional 61 shares during the period. Rogco LP purchased a new stake in Stryker during the fourth quarter worth $30,000. HBC Financial Services PLLC purchased a new stake in Stryker during the fourth quarter worth $37,000. Bourgeon Capital Management LLC purchased a new stake in Stryker during the fourth quarter worth $37,000. Finally, Private Wealth Management Group LLC purchased a new stake in shares of Stryker during the 4th quarter valued at $40,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Transactions at Stryker

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the sale, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at $1,317,414. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 5.50% of the company’s stock.

Stryker Trading Up 1.2 %

Stryker stock traded up $3.87 during trading on Wednesday, hitting $334.38. The company had a trading volume of 472,393 shares, compared to its average volume of 1,323,558. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $361.41. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. The company’s 50 day simple moving average is $341.13 and its 200-day simple moving average is $323.29. The stock has a market cap of $127.38 billion, a price-to-earnings ratio of 37.73, a price-to-earnings-growth ratio of 2.57 and a beta of 0.91.

Stryker (NYSE:SYKGet Free Report) last posted its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.14 EPS. As a group, analysts expect that Stryker Co. will post 11.94 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a dividend of $0.80 per share. The ex-dividend date is Friday, June 28th. This represents a $3.20 annualized dividend and a dividend yield of 0.96%. Stryker’s dividend payout ratio (DPR) is currently 36.53%.

Wall Street Analysts Forecast Growth

SYK has been the subject of several analyst reports. Truist Financial increased their price objective on Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a report on Wednesday, January 31st. UBS Group increased their price objective on Stryker from $339.00 to $351.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Barclays increased their price objective on Stryker from $372.00 to $376.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Piper Sandler upped their target price on Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Finally, Canaccord Genuity Group raised Stryker from a “hold” rating to a “buy” rating and upped their target price for the company from $315.00 to $360.00 in a research report on Wednesday, January 31st. Three research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $367.32.

Read Our Latest Stock Report on Stryker

About Stryker

(Free Report)

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.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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