Nomura Asset Management Co. Ltd. reduced its position in Stryker Corporation (NYSE:SYK – Free Report) by 2.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 186,652 shares of the medical technology company’s stock after selling 4,528 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Stryker were worth $65,603,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Godfrey Financial Associates Inc. bought a new stake in shares of Stryker in the 4th quarter valued at about $26,000. United Financial Planning Group LLC bought a new stake in shares of Stryker in the 3rd quarter valued at about $27,000. CGC Financial Services LLC bought a new stake in shares of Stryker in the 4th quarter valued at about $29,000. Strive Asset Management LLC bought a new stake in shares of Stryker in the 3rd quarter valued at about $30,000. Finally, ANTIPODES PARTNERS Ltd bought a new stake in shares of Stryker in the 3rd quarter valued at about $34,000. 77.09% of the stock is currently owned by institutional investors.
Stryker Stock Up 0.2%
SYK stock opened at $305.73 on Monday. The firm has a 50 day moving average of $321.82 and a 200 day moving average of $348.10. The stock has a market capitalization of $117.21 billion, a PE ratio of 35.39, a price-to-earnings-growth ratio of 1.92 and a beta of 0.78. The company has a quick ratio of 1.25, a current ratio of 2.11 and a debt-to-equity ratio of 0.62. Stryker Corporation has a 52 week low of $281.00 and a 52 week high of $404.87.
Stryker Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.2%. The ex-dividend date is Tuesday, June 30th. Stryker’s payout ratio is presently 40.74%.
Insider Buying and Selling at Stryker
In other Stryker news, Director Ronda E. Stryker sold 310,000 shares of Stryker stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $312.23, for a total transaction of $96,791,300.00. Following the completion of the sale, the director directly owned 1,924,880 shares in the company, valued at approximately $601,005,282.40. The trade was a 13.87% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Robert S. Fletcher sold 4,544 shares of Stryker stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $306.87, for a total transaction of $1,394,417.28. Following the sale, the vice president owned 10,582 shares of the company’s stock, valued at approximately $3,247,298.34. The trade was a 30.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 323,264 shares of company stock worth $100,659,489. Company insiders own 4.60% of the company’s stock.
Analyst Ratings Changes
A number of analysts have recently weighed in on the stock. Leerink Partners assumed coverage on shares of Stryker in a report on Monday, April 13th. They issued an “outperform” rating and a $410.00 price target on the stock. UBS Group lowered their target price on shares of Stryker from $400.00 to $380.00 and set a “neutral” rating for the company in a research note on Tuesday, March 17th. Sanford C. Bernstein set a $410.00 target price on shares of Stryker in a research note on Friday, May 1st. Robert W. Baird set a $385.00 target price on shares of Stryker in a research note on Friday, May 1st. Finally, Wall Street Zen cut shares of Stryker from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Sixteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $395.48.
Read Our Latest Stock Report on Stryker
About Stryker
Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.
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