Sumitomo Mitsui DS Asset Management Company Ltd Purchases 1,217 Shares of Stryker Corporation (NYSE:SYK)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 2.0% in the first quarter, according to its most recent filing with the SEC. The firm owned 62,611 shares of the medical technology company's stock after acquiring an additional 1,217 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Stryker were worth $23,307,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Elefante Mark B bought a new stake in Stryker in the 4th quarter valued at approximately $337,000. Mogy Joel R Investment Counsel Inc. raised its stake in Stryker by 3.4% in the first 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 buying an additional 3,218 shares during the period. Ferguson Wellman Capital Management Inc. lifted its position in shares of Stryker by 1.9% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company's stock valued at $65,096,000 after buying an additional 3,341 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Stryker during the 1st quarter worth approximately $1,840,000. Finally, Fred Alger Management LLC boosted its position in Stryker by 415.8% during the fourth quarter. Fred Alger Management LLC now owns 24,011 shares of the medical technology company's stock worth $8,664,000 after purchasing an additional 19,356 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

SYK has been the topic of several research reports. Wall Street Zen downgraded Stryker from a "buy" rating to a "hold" rating in a research report on Friday. Roth Mkm raised their price objective on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. BTIG Research set a $403.00 price objective on Stryker and gave the company a "buy" rating in a report on Monday, April 14th. Sanford C. Bernstein set a $450.00 price target on Stryker in a report on Monday, May 5th. Finally, JMP Securities reiterated a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $427.30.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the transaction, the director owned 3,417,326 shares in the company, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 5.20% of the stock is currently owned by company insiders.

Stryker Price Performance

SYK opened at $395.71 on Tuesday. Stryker Corporation has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The firm has a 50-day moving average of $380.12 and a 200 day moving average of $375.60. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.00 and a current ratio of 1.64. The firm has a market cap of $151.04 billion, a P/E ratio of 53.47, a PEG ratio of 2.97 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, topping analysts' consensus estimates of $2.73 by $0.11. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The company had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.68 billion. During the same quarter in the previous year, the firm posted $2.50 EPS. Stryker's revenue was up 11.9% on a year-over-year basis. On average, research analysts expect that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio is currently 45.41%.

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.

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