Asset Management One Co. Ltd. Purchases 3,438 Shares of Stryker Co. (NYSE:SYK)

Asset Management One Co. Ltd. lifted its position in shares of Stryker Co. (NYSE:SYK) by 2.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 132,737 shares of the medical technology company’s stock after acquiring an additional 3,438 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Stryker were worth $47,953,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Centennial Bank AR lifted its stake in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of Stryker during the 1st quarter worth $39,000. HBW Advisory Services LLC purchased a new stake in shares of Stryker during the 3rd quarter worth $42,000. Grove Bank & Trust raised its stake in Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after buying an additional 56 shares during the last quarter. Finally, DT Investment Partners LLC raised its stake in Stryker by 114.3% in the third quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock valued at $49,000 after buying an additional 72 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on SYK shares. Evercore ISI raised their price objective on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Truist Financial raised their target price on Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. Needham & Company LLC raised their target price on Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Robert W. Baird raised their price objective on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, BTIG Research lifted their price target on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $393.65.

Stryker Stock Performance

Shares of NYSE:SYK traded up $1.02 during trading on Monday, hitting $368.17. 36,709 shares of the company traded hands, compared to its average volume of 1,253,286. The company has a quick ratio of 0.95, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The business’s fifty day moving average is $360.18 and its 200-day moving average is $344.36. The stock has a market capitalization of $140.35 billion, a price-to-earnings ratio of 39.35, a PEG ratio of 2.69 and a beta of 0.91. Stryker Co. has a one year low of $266.93 and a one year high of $374.63.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the prior year, the business posted $2.46 earnings per share. Stryker’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, equities analysts predict that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Stockholders of record on Monday, September 30th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.87%. The ex-dividend date was Monday, September 30th. Stryker’s payout ratio is 34.30%.

Insider Activity at Stryker

In related news, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,685,213.16. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the sale, the director now directly owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the sale, the vice president now owns 10,042 shares in the company, valued at $3,685,213.16. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 200,068 shares of company stock valued at $65,151,372 over 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.