Rakuten Investment Management Inc. Takes $2.12 Million Position in Stryker Corporation $SYK

Rakuten Investment Management Inc. bought a new position in shares of Stryker Corporation (NYSE:SYK) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,162 shares of the medical technology company’s stock, valued at approximately $2,123,000.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in shares of Stryker by 1.3% during the second quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock valued at $13,253,831,000 after purchasing an additional 440,607 shares in the last quarter. State Street Corp boosted its stake in Stryker by 1.0% during the second quarter. State Street Corp now owns 14,956,732 shares of the medical technology company’s stock valued at $5,929,765,000 after buying an additional 150,204 shares during the last quarter. Geode Capital Management LLC grew its holdings in Stryker by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 7,393,611 shares of the medical technology company’s stock valued at $2,910,445,000 after buying an additional 79,654 shares in the last quarter. Alliancebernstein L.P. raised its holdings in shares of Stryker by 307.6% during the 2nd quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock worth $2,214,146,000 after acquiring an additional 4,223,366 shares in the last quarter. Finally, Norges Bank bought a new position in shares of Stryker during the 2nd quarter valued at approximately $1,882,173,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SYK has been the topic of a number of recent research reports. UBS Group set a $408.00 price target on shares of Stryker in a research note on Monday, October 13th. Evercore ISI set a $390.00 price target on Stryker in a research report on Monday, January 5th. Barclays boosted their target price on Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Wells Fargo & Company increased their price objective on shares of Stryker from $452.00 to $456.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. Finally, Citigroup reduced their target price on Stryker from $455.00 to $420.00 and set a “buy” rating on the stock in a research note on Thursday, December 11th. Fourteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $430.00.

Stryker Price Performance

Shares of NYSE SYK opened at $354.74 on Friday. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $406.19. The business’s 50 day moving average price is $359.77 and its 200 day moving average price is $372.93. The company has a quick ratio of 1.13, a current ratio of 1.85 and a debt-to-equity ratio of 0.68. The firm has a market cap of $135.66 billion, a P/E ratio of 46.62, a P/E/G ratio of 2.30 and a beta of 0.89.

Stryker (NYSE:SYK) last issued its earnings results on Friday, October 31st. The medical technology company reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.13 by $0.06. The firm had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $6.04 billion. Stryker had a return on equity of 24.07% and a net margin of 12.07%.The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.87 earnings per share. On average, sell-side analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.0%. This is a boost from Stryker’s previous quarterly dividend of $0.84. The ex-dividend date is Wednesday, December 31st. Stryker’s dividend payout ratio (DPR) is currently 46.25%.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 276,173 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the completion of the transaction, the director directly owned 2,702,108 shares in the company, valued at $954,600,714.24. This trade represents a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO William E. Berry, Jr. sold 1,953 shares of Stryker stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $365.49, for a total transaction of $713,801.97. Following the completion of the transaction, the chief accounting officer owned 2,833 shares of the company’s stock, valued at $1,035,433.17. This trade represents a 40.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 522,118 shares of company stock worth $185,381,932 in the last three months. 5.90% of the stock is owned by corporate insiders.

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.