Sumitomo Mitsui Trust Holdings Inc. Cuts Stock Position in Stryker Co. (NYSE:SYK)

Sumitomo Mitsui Trust Holdings Inc. trimmed its position in Stryker Co. (NYSE:SYK - Free Report) by 0.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,181,598 shares of the medical technology company's stock after selling 7,836 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.31% of Stryker worth $353,841,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bremer Bank National Association lifted its holdings in shares of Stryker by 4.0% in the 4th quarter. Bremer Bank National Association now owns 888 shares of the medical technology company's stock worth $266,000 after acquiring an additional 34 shares during the last quarter. Simon Quick Advisors LLC lifted its holdings in shares of Stryker by 3.0% in the 4th quarter. Simon Quick Advisors LLC now owns 1,158 shares of the medical technology company's stock worth $347,000 after acquiring an additional 34 shares during the last quarter. Consolidated Portfolio Review Corp lifted its holdings in shares of Stryker by 3.6% in the 4th quarter. Consolidated Portfolio Review Corp now owns 983 shares of the medical technology company's stock worth $294,000 after acquiring an additional 34 shares during the last quarter. MBL Wealth LLC lifted its holdings in shares of Stryker by 4.6% in the 4th quarter. MBL Wealth LLC now owns 850 shares of the medical technology company's stock worth $255,000 after acquiring an additional 37 shares during the last quarter. Finally, PDS Planning Inc lifted its holdings in shares of Stryker by 3.0% in the 3rd quarter. PDS Planning Inc now owns 1,318 shares of the medical technology company's stock worth $360,000 after acquiring an additional 38 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Down 1.2 %

Shares of SYK stock traded down $4.24 during mid-day trading on Friday, reaching $342.05. 1,056,840 shares of the company's stock traded hands, compared to its average volume of 970,082. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $361.41. The company has a market cap of $130.14 billion, a P/E ratio of 41.46, a P/E/G ratio of 2.75 and a beta of 0.89. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.59. The company's 50-day moving average price is $350.82 and its 200-day moving average price is $310.95.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.27 by $0.19. The company had revenue of $5.82 billion for the quarter, compared to analysts' expectations of $5.60 billion. Stryker had a net margin of 15.44% and a return on equity of 22.99%. Stryker's revenue was up 11.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.00 EPS. On average, equities analysts expect that Stryker Co. will post 11.86 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Wednesday, March 27th. Stryker's payout ratio is 38.79%.

Analyst Ratings Changes

SYK has been the topic of several analyst reports. StockNews.com raised shares of Stryker from a "hold" rating to a "buy" rating in a research note on Tuesday, January 23rd. Citigroup lifted their target price on shares of Stryker from $362.00 to $406.00 and gave the stock a "buy" rating in a research note on Wednesday, April 3rd. TD Cowen lifted their target price on shares of Stryker from $365.00 to $400.00 and gave the stock a "buy" rating in a research note on Thursday. Wells Fargo & Company lifted their target price on shares of Stryker from $336.00 to $364.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 31st. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $360.00 target price on shares of Stryker in a research note on Thursday, February 15th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Stryker currently has a consensus rating of "Moderate Buy" and an average price target of $338.09.

Insider Buying and Selling

In related news, Director Allan C. Golston sold 3,273 shares of the company's stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the transaction, the director now owns 14,242 shares in the company, valued at approximately $4,856,522. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Stryker news, Director Allan C. Golston sold 3,273 shares of the company's stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the transaction, the director now owns 14,242 shares in the company, valued at approximately $4,856,522. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO William E. Berry, Jr. sold 7,690 shares of the company's stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the transaction, the chief accounting officer now owns 3,675 shares in the company, valued at approximately $1,317,414. The disclosure for this sale can be found here. Insiders have sold a total of 212,109 shares of company stock worth $72,845,768 in the last quarter. Corporate insiders own 5.90% of the company's stock.

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.