Asset Management One Co. Ltd. Acquires 3,438 Shares of Stryker Co. (NYSE:SYK)

Asset Management One Co. Ltd. raised its holdings in shares of Stryker Co. (NYSE:SYK) by 2.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 132,737 shares of the medical technology company’s stock after acquiring an additional 3,438 shares during the period. Asset Management One Co. Ltd.’s holdings in Stryker were worth $47,953,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Centennial Bank AR grew its position in Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after acquiring an additional 48 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in shares of Stryker in the first quarter worth approximately $39,000. HBW Advisory Services LLC bought a new position in shares of Stryker in the third quarter worth approximately $42,000. Grove Bank & Trust grew its holdings in shares of Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after purchasing an additional 56 shares during the last quarter. Finally, DT Investment Partners LLC grew its holdings in shares of Stryker by 114.3% in the third quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock worth $49,000 after purchasing an additional 72 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SYK has been the topic of several recent analyst reports. Canaccord Genuity Group raised their target price on shares of Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Morgan Stanley lifted their price target on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Royal Bank of Canada lifted their price target on shares of Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Stifel Nicolaus cut their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Finally, Evercore ISI raised their price objective on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $393.65.

Stryker Stock Up 0.3 %

Shares of SYK traded up $1.02 during trading hours on Monday, hitting $368.17. The company had a trading volume of 36,709 shares, compared to its average volume of 1,253,286. Stryker Co. has a 52-week low of $266.93 and a 52-week high of $374.63. The firm has a fifty day moving average price of $360.18 and a 200-day moving average price of $344.36. The stock has a market capitalization of $140.35 billion, a price-to-earnings ratio of 39.35, a P/E/G ratio of 2.69 and a beta of 0.91. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.95 and a current ratio of 1.91.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, topping the consensus estimate of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period last year, the company earned $2.46 EPS. Stryker’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, equities research analysts forecast that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were paid a dividend of $0.80 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.87%. Stryker’s dividend payout ratio is currently 34.30%.

Insider Buying and Selling at Stryker

In other Stryker news, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, insider Viju Menon sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the sale, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 200,068 shares of company stock worth $65,151,372 in the last three months. 5.90% of the stock is currently owned by company insiders.

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.