Stryker Co. (NYSE:SYK) Shares Sold by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. cut its stake in Stryker Co. (NYSE:SYK) by 2.1% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,983 shares of the medical technology company’s stock after selling 147 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Stryker were worth $2,376,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SYK. Precision Wealth Strategies LLC lifted its stake in Stryker by 2.1% in the fourth quarter. Precision Wealth Strategies LLC now owns 3,114 shares of the medical technology company’s stock valued at $933,000 after buying an additional 65 shares during the last quarter. Gryphon Financial Partners LLC acquired a new stake in Stryker during the 4th quarter worth $348,000. Level Four Advisory Services LLC increased its stake in Stryker by 31.0% in the fourth quarter. Level Four Advisory Services LLC now owns 1,204 shares of the medical technology company’s stock valued at $361,000 after purchasing an additional 285 shares during the period. TrinityPoint Wealth LLC raised its holdings in shares of Stryker by 2.5% in the fourth quarter. TrinityPoint Wealth LLC now owns 2,841 shares of the medical technology company’s stock valued at $851,000 after buying an additional 70 shares during the last quarter. Finally, Gladstone Institutional Advisory LLC boosted its stake in shares of Stryker by 10.3% during the fourth quarter. Gladstone Institutional Advisory LLC now owns 1,798 shares of the medical technology company’s stock worth $539,000 after buying an additional 168 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling at Stryker

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the sale, the vice president now owns 10,042 shares of the company’s stock, valued at $3,715,540. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,715,540. The disclosure for this sale can be found here. In the last three months, insiders sold 220,068 shares of company stock worth $71,811,372. 5.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on SYK. StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a research report on Monday. Wolfe Research initiated coverage on Stryker in a report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price on the stock. Barclays increased their price target on Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a report on Thursday, August 1st. UBS Group boosted their price objective on shares of Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, BTIG Research upped their price objective on shares of Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a research report on Wednesday, August 28th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $378.58.

Stryker Price Performance

Shares of NYSE:SYK opened at $361.29 on Thursday. The firm has a market capitalization of $137.68 billion, a price-to-earnings ratio of 41.24, a price-to-earnings-growth ratio of 2.87 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. The business’s 50 day simple moving average is $344.08 and its 200-day simple moving average is $342.74. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $374.63.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. Stryker’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.54 earnings per share. As a group, equities analysts forecast that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a yield of 0.89%. Stryker’s payout ratio is 36.53%.

About Stryker

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.