Sumitomo Mitsui Trust Group Inc. Cuts Stock Position in Stryker Co. (NYSE:SYK)

Sumitomo Mitsui Trust Group Inc. cut its holdings in shares of Stryker Co. (NYSE:SYK) by 32.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 769,759 shares of the medical technology company’s stock after selling 373,814 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Stryker were worth $277,152,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Dunhill Financial LLC grew its position in shares of Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 37 shares during the period. Darwin Wealth Management LLC bought a new position in Stryker during the third quarter valued at $36,000. Crews Bank & Trust purchased a new stake in Stryker in the fourth quarter worth $39,000. Hara Capital LLC bought a new stake in shares of Stryker in the third quarter valued at $42,000. Finally, Grove Bank & Trust lifted its position in shares of Stryker by 84.8% during the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after buying an additional 56 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on SYK. Robert W. Baird boosted their price objective on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Stifel Nicolaus boosted their price target on shares of Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. The Goldman Sachs Group raised their price objective on shares of Stryker from $384.00 to $427.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Barclays boosted their target price on shares of Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. Finally, StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a report on Thursday, January 30th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $419.37.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.50% of the stock is owned by corporate insiders.

Stryker Trading Down 0.7 %

NYSE SYK opened at $396.24 on Friday. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The stock’s 50-day simple moving average is $377.08 and its two-hundred day simple moving average is $364.24. Stryker Co. has a twelve month low of $314.93 and a twelve month high of $406.19. The company has a market capitalization of $151.06 billion, a price-to-earnings ratio of 51.06, a PEG ratio of 2.78 and a beta of 0.96.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share 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 in the previous year, the business posted $3.46 EPS. Research analysts forecast that Stryker Co. will post 13.5 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Monday, March 31st. Stryker’s dividend payout ratio is currently 43.30%.

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.