Resona Asset Management Co. Ltd. Takes Position in Stryker Co. (NYSE:SYK)

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

Several other large investors have also recently added to or reduced their stakes in SYK. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Stryker in the fourth quarter worth about $25,000. Dunhill Financial LLC lifted its position in Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 37 shares in the last quarter. Rakuten Securities Inc. lifted its position in Stryker by 618.2% during the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock worth $28,000 after acquiring an additional 68 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in Stryker in the fourth quarter valued at approximately $30,000. Finally, BankPlus Trust Department purchased a new stake in shares of Stryker during the fourth quarter valued at approximately $33,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Stryker

In other 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 completion of the transaction, the director now owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction dated Tuesday, February 18th. The shares were 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 in the company, valued at approximately $5,705,827.65. This represents a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SYK. Canaccord Genuity Group upped their target price on shares of Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Needham & Company LLC reissued a “buy” rating and issued a $442.00 price objective on shares of Stryker in a research report on Friday, March 21st. Barclays raised their target price on Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a research note on Monday, February 10th. The Goldman Sachs Group set a $422.00 price target on Stryker in a research note on Tuesday, March 4th. Finally, JMP Securities restated a “market perform” rating on shares of Stryker in a research note on Tuesday, February 18th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $421.90.

Stryker Stock Performance

Shares of SYK stock opened at $346.14 on Friday. The company has a market cap of $132.12 billion, a P/E ratio of 44.61, a PEG ratio of 2.93 and a beta of 0.95. The business has a 50 day moving average of $381.69 and a two-hundred day moving average of $374.23. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (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 quarter last year, the company posted $3.46 earnings per share. As a group, analysts anticipate that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

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

Stryker 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.