Sumitomo Mitsui DS Asset Management Company Ltd Acquires 2,868 Shares of Stryker Co. (NYSE:SYK)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Stryker Co. (NYSE:SYK) by 4.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 61,394 shares of the medical technology company’s stock after purchasing an additional 2,868 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Stryker were worth $22,105,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYK. Alhambra Investment Management LLC grew its stake in shares of Stryker by 1.5% in the fourth quarter. Alhambra Investment Management LLC now owns 1,997 shares of the medical technology company’s stock worth $719,000 after acquiring an additional 29 shares during the last quarter. Capital & Planning LLC grew its stake in shares of Stryker by 3.6% in the fourth quarter. Capital & Planning LLC now owns 841 shares of the medical technology company’s stock worth $304,000 after acquiring an additional 29 shares during the last quarter. Concord Wealth Partners grew its stake in shares of Stryker by 2.2% in the fourth quarter. Concord Wealth Partners now owns 1,396 shares of the medical technology company’s stock worth $503,000 after acquiring an additional 30 shares during the last quarter. Avestar Capital LLC grew its stake in shares of Stryker by 1.1% in the third quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock worth $1,065,000 after acquiring an additional 31 shares during the last quarter. Finally, Union Savings Bank grew its stake in shares of Stryker by 1.0% in the fourth quarter. Union Savings Bank now owns 3,162 shares of the medical technology company’s stock worth $1,138,000 after acquiring an additional 31 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. JMP Securities reiterated a “market perform” rating on shares of Stryker in a research note on Tuesday, January 7th. Needham & Company LLC reaffirmed a “buy” rating and issued a $442.00 price target on shares of Stryker in a report on Wednesday, January 29th. Canaccord Genuity Group lifted their price target on Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. The Goldman Sachs Group lifted their price target on Stryker from $384.00 to $427.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Finally, Piper Sandler reissued an “overweight” rating and set a $420.00 price objective (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $419.37.

Stryker Stock Performance

Shares of NYSE SYK opened at $396.24 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The stock’s fifty day moving average price is $377.08 and its two-hundred day moving average price is $364.24. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The firm has a market cap of $151.06 billion, a price-to-earnings ratio of 51.06, a P/E/G ratio of 2.78 and a beta of 0.96.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same period last year, the business posted $3.46 EPS. On average, equities analysts forecast that Stryker Co. will post 13.5 EPS for the current year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is currently 43.30%.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction on Friday, January 31st. The shares were sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the transaction, the director now owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.50% of the stock is currently owned by insiders.

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.