98,354 Shares in Stryker Co. (NYSE:SYK) Acquired by Resona Asset Management Co. Ltd.

Resona Asset Management Co. Ltd. purchased a new position in Stryker Co. (NYSE:SYK) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 98,354 shares of the medical technology company’s stock, valued at approximately $35,511,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in Stryker by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company’s stock valued at $11,773,213,000 after acquiring an additional 252,188 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Stryker by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company’s stock valued at $2,539,033,000 after purchasing an additional 168,436 shares during the last quarter. Norges Bank acquired a new stake in shares of Stryker in the 4th quarter valued at about $1,710,744,000. Charles Schwab Investment Management Inc. grew its stake in Stryker by 2.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,985,045 shares of the medical technology company’s stock worth $714,715,000 after buying an additional 48,819 shares during the last quarter. Finally, TD Asset Management Inc. increased its position in Stryker by 7.0% during the fourth quarter. TD Asset Management Inc. now owns 1,264,686 shares of the medical technology company’s stock worth $455,350,000 after buying an additional 82,306 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on SYK shares. JPMorgan Chase & Co. increased their price objective on Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Stifel Nicolaus upped their price target on Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Royal Bank of Canada lifted their price objective on shares of Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Argus set a $450.00 price objective on shares of Stryker in a research report on Monday, February 3rd. Finally, Canaccord Genuity Group lifted their target price on shares of Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $421.90.

Stryker Stock Down 6.0 %

Shares of NYSE SYK opened at $346.14 on Friday. The firm has a market cap of $132.12 billion, a P/E ratio of 44.61, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The firm’s 50 day moving average price is $381.69 and its 200 day moving average price is $374.23.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same period in the prior year, the company earned $3.46 earnings per share. As a group, sell-side analysts anticipate that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.97%. Stryker’s payout ratio is currently 43.30%.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the transaction, the director now directly owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the transaction, the director now owns 14,895 shares in the company, valued at $5,705,827.65. The trade was a 14.16 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.50% of the company’s stock.

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.