Stryker Co. (NYSE:SYK) Shares Sold by Nissay Asset Management Corp Japan ADV

Nissay Asset Management Corp Japan ADV cut its holdings in shares of Stryker Co. (NYSE:SYK) by 3.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 53,549 shares of the medical technology company’s stock after selling 1,718 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Stryker were worth $19,658,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of SYK. Kohmann Bosshard Financial Services LLC acquired a new position in Stryker in the 4th quarter valued at about $25,000. Rakuten Securities Inc. boosted its holdings in Stryker by 618.2% in the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock valued at $28,000 after purchasing an additional 68 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in Stryker in the 4th quarter valued at about $30,000. BankPlus Trust Department acquired a new position in Stryker in the 4th quarter valued at about $33,000. Finally, Activest Wealth Management acquired a new position in Stryker in the 4th quarter valued at about $36,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently commented on SYK shares. Royal Bank of Canada upped their price objective on shares of Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Citigroup restated a “buy” rating and set a $450.00 price target on shares of Stryker in a research note on Wednesday, February 26th. Evercore ISI decreased their price target on Stryker from $400.00 to $390.00 and set an “outperform” rating on the stock in a research note on Friday, May 2nd. Barclays upped their price target on Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Finally, Argus set a $450.00 price target on Stryker in a research note on Monday, February 3rd. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $427.05.

Stryker Trading Down 0.3%

Shares of NYSE:SYK opened at $386.42 on Thursday. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19. The company’s 50 day moving average is $365.58 and its two-hundred day moving average is $374.90. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The company has a market cap of $147.49 billion, a PE ratio of 49.80, a P/E/G ratio of 2.93 and a beta of 0.93.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.11. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The business had revenue of $5.87 billion during the quarter, compared to analysts’ expectations of $5.68 billion. During the same quarter in the prior year, the business posted $2.50 EPS. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. Equities analysts predict that Stryker Co. 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, July 31st. Stockholders of record on Monday, June 30th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, June 30th. Stryker’s payout ratio is 45.41%.

Insider Activity

In other news, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the transaction, the director now owns 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Allan C. Golston sold 2,458 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction of $941,586.06. Following the sale, the director now owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. This represents a 14.16% decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

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.