Nissay Asset Management Corp Japan ADV Decreases Position in Stryker Corporation $SYK

Key Points

• Nissay Asset Management Corp Japan ADV has reduced its stake in Stryker Corporation by 1.5%, owning 52,746 shares worth approximately $19.6 million after selling 803 shares in the first quarter.
• Several institutional investors significantly increased their holdings in Stryker, with GAMMA Investing LLC growing its position by 43,226.8% during the same period, now owning over 2 million shares valued at $772 million.
• Stryker Corporation's consensus rating among analysts is a "Moderate Buy" with a price target of $430.10, while it reported earnings of $3.13 per share, exceeding expectations in its last quarter results.

Nissay Asset Management Corp Japan ADV reduced its position in Stryker Corporation (NYSE:SYK - Free Report) by 1.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,746 shares of the medical technology company's stock after selling 803 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in Stryker were worth $19,635,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of SYK. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Stryker during the first quarter worth $128,000. Clark Capital Management Group Inc. increased its position in shares of Stryker by 0.5% during the first quarter. Clark Capital Management Group Inc. now owns 194,841 shares of the medical technology company's stock worth $72,530,000 after acquiring an additional 918 shares during the period. Alliancebernstein L.P. increased its position in shares of Stryker by 66.7% during the first quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company's stock worth $511,152,000 after acquiring an additional 549,643 shares during the period. AQR Capital Management LLC increased its position in shares of Stryker by 12.6% during the first quarter. AQR Capital Management LLC now owns 113,800 shares of the medical technology company's stock worth $41,442,000 after acquiring an additional 12,758 shares during the period. Finally, Advisors Asset Management Inc. increased its position in shares of Stryker by 7.7% during the first quarter. Advisors Asset Management Inc. now owns 30,621 shares of the medical technology company's stock worth $11,399,000 after acquiring an additional 2,196 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

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

Stryker Stock Performance

Shares of SYK traded down $9.54 during mid-day trading on Wednesday, hitting $383.22. 931,525 shares of the company's stock were exchanged, compared to its average volume of 1,399,753. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The firm has a market capitalization of $146.51 billion, a P/E ratio of 50.76, a P/E/G ratio of 2.86 and a beta of 0.93. The business's 50 day moving average is $389.39 and its two-hundred day moving average is $379.67. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70.

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

Stryker Dividend Announcement

The business also recently announced 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 of this dividend is Tuesday, September 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. Stryker's payout ratio is presently 44.50%.

Analyst Upgrades and Downgrades

SYK has been the topic of a number of recent research reports. Evercore ISI upped their price objective on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Wells Fargo & Company upped 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. Needham & Company LLC boosted their target price on shares of Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Citigroup reiterated a "buy" rating and set a $455.00 target price (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Finally, Truist Financial set a $415.00 target price on shares of Stryker and gave the stock a "hold" rating in a research note on Monday, August 4th. Fourteen analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $431.42.

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.