Resona Asset Management Co. Ltd. Buys 5,498 Shares of Stryker Corporation $SYK

Resona Asset Management Co. Ltd. increased its stake in shares of Stryker Corporation (NYSE:SYK) by 5.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 111,950 shares of the medical technology company’s stock after acquiring an additional 5,498 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Stryker were worth $44,255,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SYK. Mid American Wealth Advisory Group Inc. bought a new position in Stryker during the second quarter worth $26,000. Sachetta LLC boosted its stake in Stryker by 58.7% during the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock worth $29,000 after acquiring an additional 27 shares in the last quarter. Ridgewood Investments LLC boosted its stake in Stryker by 48.4% during the second quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock worth $36,000 after acquiring an additional 30 shares in the last quarter. Ransom Advisory Ltd bought a new position in shares of Stryker in the first quarter valued at $37,000. Finally, Solstein Capital LLC bought a new position in shares of Stryker in the second quarter valued at $43,000. 77.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SYK shares. Redburn Partners set a $420.00 price objective on shares of Stryker in a research note on Thursday, September 18th. Barclays raised their price objective on shares of Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Truist Financial reaffirmed a “hold” rating and issued a $392.00 price objective (down from $407.00) on shares of Stryker in a research note on Monday. Wells Fargo & Company raised their price objective on shares of Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Finally, Wall Street Zen raised shares of Stryker from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Fourteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $433.37.

Stryker Stock Performance

Shares of SYK stock opened at $357.76 on Thursday. The firm has a 50-day moving average of $376.08 and a 200-day moving average of $381.07. The company has a market cap of $136.82 billion, a P/E ratio of 47.39, a P/E/G ratio of 2.66 and a beta of 0.94. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. Stryker Corporation has a one year low of $329.16 and a one year high of $406.19.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, October 30th. The medical technology company reported $3.19 EPS for the quarter, beating the consensus estimate of $3.13 by $0.06. The company had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $6.04 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The firm’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.87 earnings per share. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. Equities research analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Insider Activity at Stryker

In other news, insider Viju Menon sold 500 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $390.61, for a total value of $195,305.00. Following the completion of the sale, the insider owned 12,511 shares in the company, valued at $4,886,921.71. This represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.90% of the stock is currently owned by corporate insiders.

Stryker Company Profile

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.