Sumitomo Mitsui Trust Group Inc. Raises Position in Stryker Corporation (NYSE:SYK)

Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Stryker Corporation (NYSE:SYK) by 0.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 770,781 shares of the medical technology company’s stock after purchasing an additional 1,022 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.20% of Stryker worth $286,923,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Brighton Jones LLC raised its holdings in shares of Stryker by 15.4% in the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock worth $1,643,000 after buying an additional 609 shares during the period. IFP Advisors Inc raised its holdings in shares of Stryker by 43.7% in the fourth quarter. IFP Advisors Inc now owns 2,239 shares of the medical technology company’s stock worth $808,000 after buying an additional 681 shares during the period. Whipplewood Advisors LLC purchased a new stake in shares of Stryker in the fourth quarter worth approximately $169,000. NewEdge Wealth LLC raised its holdings in shares of Stryker by 10.5% in the fourth quarter. NewEdge Wealth LLC now owns 6,250 shares of the medical technology company’s stock worth $2,250,000 after buying an additional 595 shares during the period. Finally, Kovack Advisors Inc. raised its holdings in shares of Stryker by 8.7% in the fourth quarter. Kovack Advisors Inc. now owns 726 shares of the medical technology company’s stock worth $261,000 after buying an additional 58 shares during the period. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the completion of the sale, the director now directly owns 3,417,326 shares of the company’s stock, valued at $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

SYK has been the topic of several research analyst reports. Roth Mkm increased their price objective on Stryker from $405.00 to $456.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. The Goldman Sachs Group set a $422.00 price objective on Stryker in a research report on Tuesday, March 4th. Sanford C. Bernstein set a $450.00 target price on Stryker in a research note on Monday, May 5th. JMP Securities reiterated a “market perform” rating on shares of Stryker in a research note on Monday, May 5th. Finally, Wall Street Zen lowered Stryker from a “buy” rating to a “hold” rating in a research note on Friday. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $427.30.

Stryker Stock Performance

Stryker stock opened at $393.70 on Friday. Stryker Corporation has a 12-month low of $314.93 and a 12-month high of $406.19. The company has a market capitalization of $150.27 billion, a price-to-earnings ratio of 53.20, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00. The firm’s fifty day moving average price is $379.01 and its 200 day moving average price is $375.45.

Stryker (NYSE:SYK) last released its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.11. The company had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.68 billion. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The company’s revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.50 EPS. On average, research analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Monday, June 30th. Stryker’s payout ratio is 45.41%.

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.