Stryker Corporation $SYK Shares Purchased by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Stryker Corporation (NYSE:SYK) by 4.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 699,284 shares of the medical technology company’s stock after buying an additional 29,721 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.18% of Stryker worth $258,446,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the business. Clayton Financial Group LLC acquired a new position in shares of Stryker during the third quarter valued at about $26,000. Elevation Point Wealth Partners LLC purchased a new stake in Stryker during the 2nd quarter worth approximately $28,000. Kilter Group LLC acquired a new position in Stryker during the 2nd quarter valued at approximately $29,000. Howard Hughes Medical Institute purchased a new position in shares of Stryker in the second quarter worth $29,000. Finally, ANTIPODES PARTNERS Ltd acquired a new stake in shares of Stryker during the third quarter worth $34,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Activity

In other news, Director Ronda E. Stryker sold 250,000 shares of Stryker stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the transaction, the director owned 2,457,331 shares in the company, valued at $891,814,566.52. The trade was a 9.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.90% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

SYK has been the topic of several research reports. Needham & Company LLC upped their target price on Stryker from $448.00 to $454.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Piper Sandler restated an “overweight” rating on shares of Stryker in a research note on Tuesday, January 27th. BTIG Research lifted their target price on Stryker from $410.00 to $412.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Truist Financial cut their price target on shares of Stryker from $400.00 to $392.00 and set a “hold” rating on the stock in a report on Thursday, December 18th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Stryker in a research note on Monday, December 22nd. Thirteen investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, Stryker presently has an average rating of “Moderate Buy” and an average price target of $426.47.

Stryker Stock Up 0.7%

SYK opened at $384.16 on Thursday. The company has a market cap of $147.02 billion, a PE ratio of 45.73, a price-to-earnings-growth ratio of 2.23 and a beta of 0.87. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $404.87. The company has a 50-day moving average price of $361.87 and a 200 day moving average price of $369.02. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, topping the consensus estimate of $4.40 by $0.07. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The company had revenue of $7.17 billion during the quarter, compared to analyst estimates of $7.12 billion. During the same period in the previous year, the business earned $4.01 EPS. Stryker’s quarterly revenue was up 11.4% on a year-over-year basis. Sell-side analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, March 31st. Stryker’s dividend payout ratio is presently 41.90%.

Stryker Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.