Sumitomo Mitsui DS Asset Management Company Ltd Boosts Stake in Stryker Corporation $SYK

Key Points

• Sumitomo Mitsui DS Asset Management has increased its stake in Stryker Corporation by 2.2% in Q2, holding 63,988 shares valued at approximately $25.3 million.
• Insider trading activity includes a significant sale by Director Ronda E. Stryker, who sold 200,000 shares for around $75.29 million, reducing her ownership by 5.84%.
• Analysts have a consensus rating of "Moderate Buy" for Stryker, with an average target price of approximately $431.42 and multiple firms affirming or raising their price objectives.

Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 2.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 63,988 shares of the medical technology company's stock after acquiring an additional 1,377 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Stryker were worth $25,316,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its holdings in shares of Stryker by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company's stock valued at $12,306,572,000 after buying an additional 361,136 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in shares of Stryker by 9.2% in 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 buying an additional 1,021,496 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Stryker by 13.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company's stock valued at $838,640,000 after buying an additional 261,058 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Stryker by 4.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,086,960 shares of the medical technology company's stock valued at $776,871,000 after buying an additional 83,954 shares during the period. Finally, GAMMA Investing LLC lifted its holdings 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 valued at $772,390,000 after buying an additional 2,070,133 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on SYK shares. BTIG Research reissued a "buy" rating on shares of Stryker in a report on Monday, July 14th. Wall Street Zen raised Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Wells Fargo & Company lifted their price objective on Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a 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. Finally, Rothschild Redb raised Stryker to a "hold" rating in a report on Thursday. Fourteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Stryker has a consensus rating of "Moderate Buy" and a consensus price target of $430.33.

Stryker Price Performance

Shares of NYSE SYK traded up $1.87 during trading on Monday, reaching $378.70. The company had a trading volume of 2,095,205 shares, compared to its average volume of 985,669. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19. The stock has a market capitalization of $144.78 billion, a PE ratio of 50.16, a price-to-earnings-growth ratio of 2.71 and a beta of 0.93. The stock has a 50-day moving average price of $387.26 and a two-hundred day moving average price of $379.05. 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 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 company had revenue of $6.02 billion during 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 business's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, sell-side analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given 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 currently 44.50%.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction on Wednesday, August 6th. The stock was 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 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Viju Menon sold 500 shares of Stryker stock in a transaction on Monday, August 25th. The shares were sold at an average price of $390.61, for a total value of $195,305.00. Following the completion of the sale, the insider directly owned 12,511 shares of the company's stock, 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.

Stryker Company Profile

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.