Mitsubishi UFJ Asset Management Co. Ltd. Boosts Holdings in Stryker Corporation $SYK

Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in shares of Stryker Corporation (NYSE:SYK) by 4.4% in the third quarter, Holdings Channel reports. The institutional investor owned 699,284 shares of the medical technology company’s stock after acquiring an additional 29,721 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Stryker were worth $258,446,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Terra Alpha Investments LLC purchased a new stake in shares of Stryker in the 3rd quarter valued at approximately $1,216,000. Diversified Trust Co boosted its position in shares of Stryker by 45.6% during the 3rd quarter. Diversified Trust Co now owns 12,445 shares of the medical technology company’s stock worth $4,601,000 after purchasing an additional 3,899 shares during the period. SVB Wealth LLC acquired a new stake in Stryker in the 2nd quarter valued at approximately $4,785,000. AXQ Capital LP acquired a new stake in Stryker in the 2nd quarter valued at approximately $567,000. Finally, National Pension Service raised its position in Stryker by 2.4% in the third quarter. National Pension Service now owns 683,867 shares of the medical technology company’s stock valued at $252,805,000 after purchasing an additional 16,254 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 250,000 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total value of $90,730,000.00. Following the transaction, the director owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. This represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 5.90% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SYK shares. TD Cowen cut Stryker from a “buy” rating to a “hold” rating and set a $387.00 price objective for the company. in a research note on Monday, January 26th. Royal Bank Of Canada restated an “outperform” rating and set a $435.00 target price on shares of Stryker in a report on Friday, November 14th. Citigroup reaffirmed a “market outperform” rating on shares of Stryker in a research report on Friday, January 30th. BTIG Research increased their price target on shares of Stryker from $410.00 to $412.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Finally, Piper Sandler reissued an “overweight” rating on shares of Stryker in a research note on Tuesday, January 27th. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and an average target price of $426.47.

Stryker Stock Up 0.7%

SYK stock opened at $384.16 on Thursday. The company’s 50 day moving average price is $361.87 and its 200 day moving average price is $369.02. The firm has a market capitalization of $147.02 billion, a price-to-earnings ratio of 45.73, a PEG ratio of 2.23 and a beta of 0.87. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $404.87. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89.

Stryker (NYSE:SYK) last posted its quarterly earnings results 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 net margin of 12.92% and a return on equity of 24.41%. The company had revenue of $7.17 billion during the quarter, compared to analysts’ expectations of $7.12 billion. During the same quarter in the previous year, the business posted $4.01 EPS. The firm’s revenue was up 11.4% on a year-over-year basis. On average, equities research analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

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

About Stryker

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.