Daiwa Securities Group Inc. Purchases 2,468 Shares of Stryker Co. (NYSE:SYK)

Daiwa Securities Group Inc. increased its stake in Stryker Co. (NYSE:SYK) by 7.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 34,107 shares of the medical technology company’s stock after purchasing an additional 2,468 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Stryker were worth $10,214,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Farmers & Merchants Trust Co of Chambersburg PA grew its position in shares of Stryker by 203.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 61 shares in the last quarter. Quarry LP purchased a new position in shares of Stryker in the first quarter valued at $27,000. Freedom Wealth Alliance LLC purchased a new position in shares of Stryker in the fourth quarter valued at $26,000. HBC Financial Services PLLC purchased a new position in shares of Stryker in the fourth quarter valued at $37,000. Finally, Bourgeon Capital Management LLC purchased a new position in shares of Stryker in the fourth quarter valued at $37,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Wells Fargo & Company boosted their target price on Stryker from $336.00 to $364.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. TD Cowen boosted their target price on Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Evercore ISI boosted their target price on Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Finally, Roth Mkm boosted their target price on Stryker from $345.00 to $348.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $340.45.

Insider Transactions at Stryker

In other news, Director Allan C. Golston sold 3,273 shares of the stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total value of $1,116,093.00. Following the completion of the transaction, the director now owns 14,242 shares of the company’s stock, valued at approximately $4,856,522. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Ronda E. Stryker sold 201,146 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the completion of the transaction, the director now owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Allan C. Golston sold 3,273 shares of the firm’s stock in a transaction that occurred on 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 directly owns 14,242 shares of the company’s stock, valued at approximately $4,856,522. The disclosure for this sale can be found here. In the last quarter, insiders sold 212,109 shares of company stock valued at $72,845,768. Corporate insiders own 5.90% of the company’s stock.

Stryker Trading Down 1.1 %

Shares of SYK stock opened at $332.28 on Thursday. The stock has a market capitalization of $126.42 billion, a PE ratio of 40.73, a P/E/G ratio of 2.72 and a beta of 0.89. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $361.41. The business has a 50-day moving average of $350.57 and a 200 day moving average of $312.03. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.58 and a quick ratio of 0.97.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.27 by $0.19. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The firm had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.60 billion. During the same quarter in the prior year, the company earned $3.00 EPS. The business’s revenue was up 11.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that Stryker Co. will post 11.86 earnings per share for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.96%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s dividend payout ratio is currently 38.79%.

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.