Daiwa Securities Group Inc. Raises Stock Position in Stryker Co. (NYSE:SYK)

Daiwa Securities Group Inc. boosted its holdings in shares of Stryker Co. (NYSE:SYK) by 15.4% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 43,635 shares of the medical technology company’s stock after purchasing an additional 5,826 shares during the period. Daiwa Securities Group Inc.’s holdings in Stryker were worth $14,846,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in SYK. Burkett Financial Services LLC purchased a new stake in shares of Stryker in the fourth quarter worth about $25,000. DSM Capital Partners LLC purchased a new stake in Stryker in the 4th quarter worth approximately $34,000. Central Pacific Bank Trust Division acquired a new stake in shares of Stryker during the 1st quarter worth approximately $39,000. Private Wealth Management Group LLC purchased a new position in shares of Stryker during the 4th quarter valued at approximately $40,000. Finally, Accent Capital Management LLC acquired a new position in shares of Stryker in the 4th quarter valued at $60,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Stryker

In other Stryker news, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the transaction, the director now directly owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares in the company, valued at $3,219,495. The disclosure for this sale can be found here. Over the last quarter, insiders sold 210,600 shares of company stock valued at $68,330,400. 5.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on SYK shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $386.00 price objective on shares of Stryker in a report on Wednesday, July 31st. The Goldman Sachs Group began coverage on Stryker in a research report on Thursday, May 30th. They set a “neutral” rating and a $372.00 price target on the stock. Stifel Nicolaus cut their price objective on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Truist Financial decreased their target price on Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a research report on Thursday, August 1st. Finally, BTIG Research boosted their price target on shares of Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a report on Wednesday, August 28th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and a consensus price target of $378.58.

Stryker Stock Up 0.6 %

SYK stock opened at $365.10 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. The firm has a 50-day moving average of $340.21 and a two-hundred day moving average of $342.04. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $365.96. The company has a market cap of $139.13 billion, a price-to-earnings ratio of 41.68, a PEG ratio of 2.77 and a beta of 0.91.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating the consensus estimate of $2.79 by $0.02. The firm had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the firm earned $2.54 earnings per share. As a group, analysts forecast that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a dividend of $0.80 per share. The ex-dividend date is Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.88%. Stryker’s payout ratio is 36.53%.

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.