Norinchukin Bank The Raises Holdings in Stryker Corporation $SYK

Key Points

• Norinchukin Bank The increased its stake in Stryker Corporation by 15.1%, now owning 17,564 shares valued at approximately $6.54 million.
• Analysts are optimistic about Stryker, with 15 rating the stock as "Buy" and price targets reaching up to $450 according to several research reports.
• Stryker recently reported quarterly earnings of $3.13 EPS, surpassing estimates and showing a 11.1% revenue increase compared to the previous year.

Norinchukin Bank The increased its position in Stryker Corporation (NYSE:SYK - Free Report) by 15.1% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 17,564 shares of the medical technology company's stock after purchasing an additional 2,304 shares during the period. Norinchukin Bank The's holdings in Stryker were worth $6,538,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Elefante Mark B purchased a new stake in shares of Stryker in the 4th quarter valued at about $337,000. Mogy Joel R Investment Counsel Inc. lifted its holdings in shares of Stryker by 3.4% in the 1st quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company's stock valued at $36,561,000 after purchasing an additional 3,218 shares during the last quarter. Ferguson Wellman Capital Management Inc. lifted its holdings in shares of Stryker by 1.9% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company's stock valued at $65,096,000 after purchasing an additional 3,341 shares during the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of Stryker in the 1st quarter valued at about $1,840,000. Finally, Mar Vista Investment Partners LLC lifted its holdings in shares of Stryker by 10.2% in the 1st quarter. Mar Vista Investment Partners LLC now owns 90,187 shares of the medical technology company's stock valued at $33,572,000 after purchasing an additional 8,353 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the sale, the director owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. This represents a 5.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 5.20% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SYK. Needham & Company LLC lifted their target price on Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research note on Friday, August 1st. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Evercore ISI boosted their target price on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Finally, Truist Financial set a $415.00 target price on Stryker and gave the stock a "hold" rating in a research report on Monday, August 4th. Fifteen research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Stryker currently has an average rating of "Moderate Buy" and a consensus target price of $430.10.

Stryker Price Performance

Shares of SYK traded down $1.97 on Wednesday, reaching $392.37. The stock had a trading volume of 179,739 shares, compared to its average volume of 1,420,833. The firm has a market capitalization of $150.01 billion, a PE ratio of 51.97, a PEG ratio of 2.84 and a beta of 0.91. 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 firm has a 50-day moving average of $388.21 and a 200 day moving average of $379.35. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19.

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

Stryker Dividend Announcement

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

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.