Meiji Yasuda Life Insurance Co Has $2.22 Million Stake in Stryker Corporation $SYK

Key Points

• Meiji Yasuda Life Insurance Co increased its stake in Stryker Corporation by 20.8%, holding 5,969 shares valued at approximately $2.22 million as of the last quarter.
• Multiple institutional investors have significantly boosted their positions in Stryker, with GAMMA Investing LLC increasing its stake by an astounding 43,226.8%.
• Stryker reported quarterly earnings of $3.13 per share, surpassing expectations, along with a revenue of $6.02 billion, representing an 11.1% year-over-year growth.

Meiji Yasuda Life Insurance Co lifted its stake in Stryker Corporation (NYSE:SYK - Free Report) by 20.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,969 shares of the medical technology company's stock after purchasing an additional 1,026 shares during the period. Meiji Yasuda Life Insurance Co's holdings in Stryker were worth $2,222,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of Stryker by 43,226.8% in the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock worth $772,390,000 after purchasing an additional 2,070,133 shares during the last quarter. Nuveen LLC acquired a new stake in shares of Stryker during the 1st quarter valued at $558,075,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Stryker by 9.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company's stock valued at $4,515,847,000 after acquiring an additional 1,021,496 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Stryker by 66.7% during the 1st quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company's stock valued at $511,152,000 after acquiring an additional 549,643 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Stryker in the 4th quarter valued at approximately $154,140,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Price Performance

SYK opened at $392.02 on Monday. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19. The firm has a 50-day moving average price of $389.52 and a 200-day moving average price of $379.51. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $149.87 billion, a price-to-earnings ratio of 51.92, a PEG ratio of 2.85 and a beta of 0.93.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The company had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same quarter last year, the company earned $2.81 earnings per share. The firm's quarterly revenue was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Equities analysts expect that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be issued a $0.84 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. Stryker's payout ratio is currently 44.50%.

Analysts Set New Price Targets

SYK has been the topic of several recent research reports. Evercore ISI lifted their target price on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Needham & Company LLC boosted their target price on Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Truist Financial set a $415.00 price objective on Stryker and gave the stock a "hold" rating in a report on Monday, August 4th. BTIG Research reissued a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Finally, Wells Fargo & Company boosted their price objective on Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Fifteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $430.10.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total value of $75,290,000.00. Following the transaction, the director directly owned 3,222,108 shares of the company's stock, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Viju Menon sold 500 shares of the business's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $390.61, for a total value of $195,305.00. Following the transaction, the insider owned 12,511 shares in the company, valued at approximately $4,886,921.71. This represents a 3.84% decrease in their position. The disclosure for this sale can be found here. 5.20% of the stock is owned by insiders.

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.

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