Sumitomo Mitsui Trust Group Inc. Raises Holdings in Stryker Corporation $SYK

Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Stryker Corporation (NYSE:SYK) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 794,988 shares of the medical technology company’s stock after buying an additional 13,440 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.21% of Stryker worth $293,883,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in SYK. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Stryker during the 2nd quarter worth about $26,000. Clayton Financial Group LLC acquired a new position in Stryker in the 3rd quarter valued at $26,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Stryker during the 2nd quarter worth $28,000. Sachetta LLC boosted its holdings in shares of Stryker by 58.7% during the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock worth $29,000 after purchasing an additional 27 shares during the last quarter. Finally, Kilter Group LLC purchased a new stake in shares of Stryker in the second quarter valued at $29,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SYK has been the topic of a number of research analyst reports. Rothschild Redb raised Stryker to a “hold” rating in a research note on Thursday, September 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Stryker in a research note on Monday, December 22nd. Sanford C. Bernstein boosted their price objective on shares of Stryker from $450.00 to $465.00 and gave the company an “outperform” rating in a research note on Friday. Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a research report on Sunday, December 21st. Finally, Barclays raised their price objective on Stryker from $443.00 to $453.00 and gave the stock an “overweight” rating in a report on Wednesday, October 22nd. Fourteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $430.00.

Stryker Trading Up 0.1%

SYK opened at $367.75 on Monday. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. 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 stock has a market capitalization of $140.64 billion, a PE ratio of 48.32, a P/E/G ratio of 2.35 and a beta of 0.89. The firm’s fifty day moving average price is $359.91 and its 200 day moving average price is $374.96.

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

Stryker Increases Dividend

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

Insider Activity

In other Stryker news, Director Ronda E. Stryker sold 276,173 shares of Stryker stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the sale, the director owned 2,702,108 shares of the company’s stock, valued at $954,600,714.24. The trade was a 9.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO William E. Berry, Jr. sold 1,953 shares of the company’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $365.49, for a total transaction of $713,801.97. Following the completion of the sale, the chief accounting officer directly owned 2,833 shares of the company’s stock, valued at $1,035,433.17. The trade was a 40.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 522,118 shares of company stock valued at $185,381,932. Insiders own 5.20% of the company’s stock.

Stryker 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.