Sumitomo Mitsui Trust Group Inc. Increases Stake in Stryker Corporation (NYSE:SYK)

Sumitomo Mitsui Trust Group Inc. boosted its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 0.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 770,781 shares of the medical technology company's stock after acquiring an additional 1,022 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.20% of Stryker worth $286,923,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in SYK. Norges Bank bought a new position in shares of Stryker during the 4th quarter worth approximately $1,710,744,000. GAMMA Investing LLC lifted its position in shares of Stryker by 43,226.8% during the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock worth $772,390,000 after buying an additional 2,070,133 shares in the last quarter. Raymond James Financial Inc. bought a new position in shares of Stryker during the 4th quarter worth approximately $353,394,000. FMR LLC lifted its position in shares of Stryker by 10.0% during the 4th quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock worth $2,892,946,000 after buying an additional 727,850 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Stryker during the 4th quarter worth approximately $154,140,000. Institutional investors own 77.09% of the company's stock.

Insider Activity

In related news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the transaction, the director now owns 3,417,326 shares in the company, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 5.90% of the company's stock.

Stryker Trading Up 0.8%

Shares of NYSE:SYK traded up $3.30 during midday trading on Friday, hitting $393.70. 2,216,556 shares of the stock traded hands, compared to its average volume of 1,346,944. The stock has a market capitalization of $150.27 billion, a PE ratio of 53.20, a P/E/G ratio of 2.94 and a beta of 0.91. The business's 50 day moving average is $379.01 and its two-hundred day moving average is $375.45. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. Stryker Corporation has a one year low of $314.93 and a one year high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.73 by $0.11. The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.68 billion. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The company's quarterly revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.50 earnings per share. As a group, research analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have commented on SYK. BTIG Research set a $403.00 target price on shares of Stryker and gave the stock a "buy" rating in a research report on Monday, April 14th. Sanford C. Bernstein set a $450.00 target price on shares of Stryker in a research report on Monday, May 5th. JMP Securities reissued a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Wall Street Zen cut shares of Stryker from a "buy" rating to a "hold" rating in a research report on Friday. Finally, Needham & Company LLC restated a "buy" rating and set a $442.00 price target on shares of Stryker in a research note on Friday, March 21st. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat, Stryker presently has an average rating of "Moderate Buy" and a consensus target price of $427.30.

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.