Stryker Corporation (SYK) Shares Bought by Dai Ichi Life Insurance Company Ltd
Dai Ichi Life Insurance Company Ltd raised its stake in Stryker Corporation (NYSE:SYK) by 33.4% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 97,909 shares of the medical technology company’s stock after purchasing an additional 24,526 shares during the period. Dai Ichi Life Insurance Company Ltd’s holdings in Stryker Corporation were worth $13,588,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in SYK. Vanguard Group Inc. raised its stake in shares of Stryker Corporation by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 23,421,053 shares of the medical technology company’s stock valued at $3,083,382,000 after purchasing an additional 1,161,688 shares in the last quarter. BlackRock Inc. lifted its position in shares of Stryker Corporation by 2,526.4% during the first quarter. BlackRock Inc. now owns 21,976,771 shares of the medical technology company’s stock worth $2,893,242,000 after purchasing an additional 21,140,000 shares during the last quarter. Fundsmith LLP grew its stake in Stryker Corporation by 4.6% in the first quarter. Fundsmith LLP now owns 5,175,453 shares of the medical technology company’s stock worth $681,348,000 after purchasing an additional 226,057 shares in the last quarter. Wellington Management Group LLP grew its stake in Stryker Corporation by 0.5% in the first quarter. Wellington Management Group LLP now owns 4,569,118 shares of the medical technology company’s stock worth $601,525,000 after purchasing an additional 24,139 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in Stryker Corporation by 6.3% in the first quarter. Geode Capital Management LLC now owns 2,786,406 shares of the medical technology company’s stock worth $366,255,000 after purchasing an additional 166,133 shares in the last quarter. 74.13% of the stock is owned by institutional investors.
SYK has been the topic of several research reports. Zacks Investment Research cut Stryker Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. BidaskClub downgraded Stryker Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 31st. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $161.00 target price on shares of Stryker Corporation in a research report on Monday. Royal Bank Of Canada reiterated a “buy” rating and issued a $155.00 target price on shares of Stryker Corporation in a research report on Monday. Finally, Oppenheimer Holdings, Inc. set a $148.00 price target on Stryker Corporation and gave the company a “hold” rating in a report on Friday, July 28th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. Stryker Corporation currently has an average rating of “Hold” and an average price target of $146.78.
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In related news, insider Graham A. Mclean sold 1,124 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $146.26, for a total transaction of $164,396.24. Following the sale, the insider now directly owns 8,983 shares in the company, valued at approximately $1,313,853.58. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Lonny J. Carpenter sold 5,000 shares of the stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $146.36, for a total value of $731,800.00. Following the sale, the insider now owns 88,207 shares in the company, valued at $12,909,976.52. The disclosure for this sale can be found here. Insiders have sold 25,429 shares of company stock worth $3,686,927 over the last ninety days. Insiders own 7.40% of the company’s stock.
Shares of Stryker Corporation (NYSE SYK) opened at 143.63 on Wednesday. The company has a 50-day moving average price of $142.35 and a 200 day moving average price of $139.76. The firm has a market capitalization of $53.73 billion, a PE ratio of 32.06 and a beta of 0.80. Stryker Corporation has a 52-week low of $106.48 and a 52-week high of $148.84.
Stryker Corporation (NYSE:SYK) last announced its quarterly earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.51 by $0.02. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same period last year, the firm posted $1.39 EPS. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. Analysts expect that Stryker Corporation will post $6.46 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be paid a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.70 annualized dividend and a yield of 1.18%. Stryker Corporation’s dividend payout ratio is 37.95%.
About Stryker Corporation
Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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