Stryker Corporation (NYSE:SYK) Shares Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. lifted its stake in shares of Stryker Corporation (NYSE:SYK) by 8.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 106,452 shares of the medical technology company’s stock after acquiring an additional 8,098 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Stryker were worth $39,500,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Rathbones Group PLC boosted its stake in shares of Stryker by 4.3% during the first quarter. Rathbones Group PLC now owns 29,028 shares of the medical technology company’s stock valued at $10,806,000 after acquiring an additional 1,191 shares during the last quarter. HighTower Advisors LLC boosted its stake in shares of Stryker by 1.6% during the first quarter. HighTower Advisors LLC now owns 439,332 shares of the medical technology company’s stock valued at $163,541,000 after acquiring an additional 7,000 shares during the last quarter. Trillium Asset Management LLC boosted its stake in shares of Stryker by 16.5% during the first quarter. Trillium Asset Management LLC now owns 98,146 shares of the medical technology company’s stock valued at $36,534,000 after acquiring an additional 13,921 shares during the last quarter. Gouws Capital LLC boosted its stake in shares of Stryker by 1.0% during the first quarter. Gouws Capital LLC now owns 20,219 shares of the medical technology company’s stock valued at $7,527,000 after acquiring an additional 205 shares during the last quarter. Finally, Trust Asset Management LLC lifted its position in Stryker by 1.2% during the first quarter. Trust Asset Management LLC now owns 3,943 shares of the medical technology company’s stock worth $1,468,000 after buying an additional 47 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on SYK. Roth Mkm increased their target price on Stryker from $405.00 to $456.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. BTIG Research reiterated a “buy” rating on shares of Stryker in a research report on Monday, July 14th. JMP Securities reiterated a “market perform” rating on shares of Stryker in a research report on Monday, May 5th. Evercore ISI increased their target price on Stryker from $390.00 to $415.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Finally, Wall Street Zen upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Friday, July 18th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $430.10.

Stryker Trading Down 0.2%

NYSE SYK opened at $376.75 on Tuesday. Stryker Corporation has a one year low of $323.73 and a one year high of $406.19. The company’s 50 day moving average price is $387.08 and its 200 day moving average price is $379.86. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. The firm has a market capitalization of $144.04 billion, a price-to-earnings ratio of 49.90, a PEG ratio of 2.74 and a beta of 0.91.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, beating the consensus estimate of $3.07 by $0.06. The business had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%. The company’s revenue was up 11.1% on a year-over-year basis. During the same period last year, the business posted $2.81 EPS. On average, sell-side analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 44.50%.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the sale, the director directly owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 5.20% of the company’s stock.

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.