Sumitomo Mitsui DS Asset Management Company Ltd Acquires 11,930 Shares of Stryker Corporation $SYK

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Stryker Corporation (NYSE:SYK) by 18.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,918 shares of the medical technology company’s stock after purchasing an additional 11,930 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Stryker were worth $28,065,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the company. Trueblood Wealth Management LLC raised its position in Stryker by 5.4% in the third quarter. Trueblood Wealth Management LLC now owns 4,592 shares of the medical technology company’s stock worth $1,698,000 after purchasing an additional 234 shares in the last quarter. Oregon Public Employees Retirement Fund grew its stake in shares of Stryker by 32.1% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 39,271 shares of the medical technology company’s stock valued at $14,517,000 after purchasing an additional 9,546 shares during the period. Campbell Newman Asset Management Inc. grew its stake in shares of Stryker by 2.0% in the 3rd quarter. Campbell Newman Asset Management Inc. now owns 105,037 shares of the medical technology company’s stock valued at $38,829,000 after purchasing an additional 2,086 shares during the period. Nisa Investment Advisors LLC raised its holdings in shares of Stryker by 2.0% in the 3rd quarter. Nisa Investment Advisors LLC now owns 104,384 shares of the medical technology company’s stock worth $38,675,000 after buying an additional 2,085 shares in the last quarter. Finally, Duncker Streett & Co. Inc. lifted its holdings in shares of Stryker by 3.1% during the third quarter. Duncker Streett & Co. Inc. now owns 13,737 shares of the medical technology company’s stock valued at $5,078,000 after acquiring an additional 411 shares during the period. Institutional investors own 77.09% of the company’s stock.

Insider Transactions at Stryker

In related news, CAO William E. Berry, Jr. sold 1,953 shares of the company’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $365.49, for a total value of $713,801.97. Following the transaction, the chief accounting officer owned 2,833 shares in the company, valued at approximately $1,035,433.17. This represents a 40.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 276,173 shares of Stryker stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $353.28, for a total value of $97,566,397.44. Following the sale, the director directly owned 2,702,108 shares of the company’s stock, valued at approximately $954,600,714.24. The trade was a 9.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 522,118 shares of company stock worth $185,381,932. 5.90% of the stock is owned by company insiders.

Stryker Stock Performance

Shares of Stryker stock opened at $367.75 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.85 and a quick ratio of 1.13. The firm has a market cap of $140.64 billion, a price-to-earnings ratio of 48.32, a price-to-earnings-growth ratio of 2.35 and a beta of 0.89. The stock’s 50-day moving average is $359.91 and its 200-day moving average is $375.16. Stryker Corporation has a one year low of $329.16 and a one year high of $406.19.

Stryker (NYSE:SYK) last announced its earnings results on Friday, October 31st. The medical technology company reported $3.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.13 by $0.06. The business had revenue of $6.06 billion for the quarter, compared to analyst estimates of $6.04 billion. Stryker had a return on equity of 24.07% and a net margin of 12.07%.Stryker’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.87 EPS. Equities analysts predict that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be paid a $0.88 dividend. This is an increase from Stryker’s previous quarterly dividend of $0.84. The ex-dividend date is Wednesday, December 31st. This represents a $3.52 annualized dividend and a yield of 1.0%. Stryker’s dividend payout ratio (DPR) is 46.25%.

Wall Street Analysts Forecast Growth

SYK has been the topic of several research analyst reports. Citigroup decreased their target price on Stryker from $455.00 to $420.00 and set a “buy” rating on the stock in a report on Thursday, December 11th. Rothschild Redb raised Stryker to a “hold” rating in a research note on Thursday, September 18th. Wells Fargo & Company boosted their target price on Stryker from $452.00 to $456.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Stryker in a research note on Monday, December 22nd. Finally, Royal Bank Of Canada reissued an “outperform” rating and issued a $435.00 price target on shares of Stryker in a research note on Friday, November 14th. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $430.00.

Stryker Company Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.