Norinchukin Bank The Has $6.63 Million Stake in Stryker Co. (NYSE:SYK)

Norinchukin Bank The lifted its position in Stryker Co. (NYSE:SYK) by 1.7% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 27,211 shares of the medical technology company’s stock after buying an additional 453 shares during the quarter. Norinchukin Bank The’s holdings in Stryker were worth $6,628,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in SYK. Curi Capital bought a new stake in Stryker during the fourth quarter worth approximately $29,000. RWM Asset Management LLC bought a new stake in shares of Stryker in the fourth quarter valued at approximately $33,000. Albion Financial Group UT bought a new stake in shares of Stryker in the fourth quarter valued at approximately $34,000. Ossiam boosted its position in shares of Stryker by 294.9% in the fourth quarter. Ossiam now owns 154 shares of the medical technology company’s stock valued at $38,000 after acquiring an additional 115 shares during the period. Finally, Graves Light Private Wealth Management Inc. acquired a new position in shares of Stryker in the fourth quarter valued at $41,000. 72.31% of the stock is owned by institutional investors and hedge funds.

Shares of SYK opened at $256.66 on Friday. The company has a quick ratio of 1.39, a current ratio of 2.27 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $96.70 billion, a P/E ratio of 69.56, a price-to-earnings-growth ratio of 2.92 and a beta of 0.96. The firm’s 50 day simple moving average is $254.74. Stryker Co. has a 12 month low of $171.75 and a 12 month high of $268.04.

Stryker (NYSE:SYK) last released its earnings results on Monday, April 26th. The medical technology company reported $1.93 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.99 by ($0.06). Stryker had a return on equity of 21.90% and a net margin of 9.57%. The firm had revenue of $3.95 billion during the quarter, compared to analysts’ expectations of $3.94 billion. During the same period in the prior year, the business earned $1.84 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. Sell-side analysts anticipate that Stryker Co. will post 9.17 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 30th. Investors of record on Wednesday, June 30th will be paid a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 0.98%. The ex-dividend date of this dividend is Tuesday, June 29th. Stryker’s dividend payout ratio is 33.92%.

Several research firms have issued reports on SYK. JPMorgan Chase & Co. increased their price objective on Stryker from $245.00 to $265.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 24th. Deutsche Bank Aktiengesellschaft raised their target price on Stryker from $251.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, April 28th. Cowen raised their price target on Stryker from $255.00 to $279.00 and gave the company an “outperform” rating in a report on Wednesday, April 28th. Truist Securities raised their target price on Stryker from $245.00 to $255.00 in a report on Wednesday, April 28th. Finally, Evercore ISI upgraded Stryker from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $260.00 to $285.00 in a report on Tuesday, June 1st. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $268.18.

In related news, CEO Kevin Lobo sold 107,795 shares of the business’s stock in a transaction dated Tuesday, May 4th. The stock was sold at an average price of $255.79, for a total transaction of $27,572,883.05. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP M Kathryn Fink sold 4,000 shares of the business’s stock in a transaction dated Thursday, April 8th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. The disclosure for this sale can be found here. Company insiders own 6.70% of the company’s stock.

Stryker Company Profile

Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical device products that are used in various medical specialties.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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