Sumitomo Mitsui Trust Holdings Inc. Trims Stock Position in Stryker Co. (NYSE:SYK)

Sumitomo Mitsui Trust Holdings Inc. cut its stake in Stryker Co. (NYSE:SYK) by 1.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,167,297 shares of the medical technology company’s stock after selling 14,301 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.31% of Stryker worth $417,741,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of SYK. Harbor Investment Advisory LLC increased its position in Stryker by 0.4% during the first quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock worth $2,499,000 after purchasing an additional 31 shares during the last quarter. Bremer Bank National Association increased its position in shares of Stryker by 4.0% in the fourth quarter. Bremer Bank National Association now owns 888 shares of the medical technology company’s stock worth $266,000 after acquiring an additional 34 shares in the last quarter. Simon Quick Advisors LLC increased its position in shares of Stryker by 3.0% in the fourth quarter. Simon Quick Advisors LLC now owns 1,158 shares of the medical technology company’s stock worth $347,000 after acquiring an additional 34 shares in the last quarter. Consolidated Portfolio Review Corp increased its position in shares of Stryker by 3.6% in the fourth quarter. Consolidated Portfolio Review Corp now owns 983 shares of the medical technology company’s stock worth $294,000 after acquiring an additional 34 shares in the last quarter. Finally, FourThought Financial Partners LLC increased its position in shares of Stryker by 3.3% in the fourth quarter. FourThought Financial Partners LLC now owns 1,076 shares of the medical technology company’s stock worth $322,000 after acquiring an additional 34 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on SYK shares. UBS Group raised their price target on shares of Stryker from $339.00 to $351.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, June 25th. Citigroup raised their price objective on shares of Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Piper Sandler raised their price objective on shares of Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Finally, Needham & Company LLC raised shares of Stryker from a “hold” rating to a “buy” rating and set a $392.00 price objective for the company in a report on Wednesday, May 22nd. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Stryker has an average rating of “Moderate Buy” and a consensus price target of $370.32.

Stryker Price Performance

Shares of NYSE SYK traded down $1.16 during midday trading on Wednesday, reaching $333.14. The company’s stock had a trading volume of 95,492 shares, compared to its average volume of 1,298,146. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. The company has a 50 day moving average price of $337.56 and a 200 day moving average price of $334.19. Stryker Co. has a one year low of $249.98 and a one year high of $361.41. The company has a market cap of $126.91 billion, a price-to-earnings ratio of 38.16, a price-to-earnings-growth ratio of 2.68 and a beta of 0.89.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same quarter in the previous year, the business earned $2.14 earnings per share. The firm’s revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts expect that Stryker Co. will post 11.95 EPS for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Friday, June 28th. Stryker’s payout ratio is presently 36.53%.

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.