Dai ichi Life Insurance Company Ltd Decreases Position in Stryker Co. (NYSE:SYK)

Dai ichi Life Insurance Company Ltd decreased its stake in Stryker Co. (NYSE:SYK) by 24.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,315 shares of the medical technology company’s stock after selling 5,000 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Stryker were worth $5,533,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the stock. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Stryker by 78.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock valued at $45,260,000 after acquiring an additional 58,673 shares during the period. OFI Invest Asset Management grew its position in Stryker by 3,210.9% during the 2nd quarter. OFI Invest Asset Management now owns 3,344 shares of the medical technology company’s stock worth $1,062,000 after purchasing an additional 3,243 shares during the last quarter. Tidal Investments LLC increased its stake in Stryker by 14.2% in the first quarter. Tidal Investments LLC now owns 13,558 shares of the medical technology company’s stock valued at $4,853,000 after purchasing an additional 1,681 shares during the period. Envestnet Asset Management Inc. raised its holdings in shares of Stryker by 2.7% in the second quarter. Envestnet Asset Management Inc. now owns 618,041 shares of the medical technology company’s stock valued at $210,289,000 after buying an additional 16,504 shares during the last quarter. Finally, Sivik Global Healthcare LLC grew its holdings in shares of Stryker by 8.0% during the third quarter. Sivik Global Healthcare LLC now owns 27,000 shares of the medical technology company’s stock worth $9,754,000 after buying an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Activity at Stryker

In related news, 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 transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,685,213.16. The trade was a 42.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Kevin Lobo sold 57,313 shares of the stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 66,781 shares of company stock worth $24,612,275. 5.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on SYK. Canaccord Genuity Group lifted their target price on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Citigroup boosted their price objective on shares of Stryker from $406.00 to $411.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. UBS Group lifted their target price on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Stifel Nicolaus lowered their price objective on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. raised their price target on Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $393.65.

Stryker Stock Up 1.2 %

Shares of NYSE SYK opened at $389.71 on Wednesday. The firm has a market cap of $148.57 billion, a P/E ratio of 41.77, a price-to-earnings-growth ratio of 2.90 and a beta of 0.91. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. Stryker Co. has a 1 year low of $285.79 and a 1 year high of $398.20. The firm’s 50 day moving average price is $366.97 and its 200 day moving average price is $350.42.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter in the previous year, the business earned $2.46 earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current year.

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.