Mitsubishi UFJ Trust & Banking Corp Grows Stock Holdings in Stryker Co. (NYSE:SYK)

Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Stryker Co. (NYSE:SYK) by 3.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 169,467 shares of the medical technology company’s stock after acquiring an additional 5,039 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Stryker were worth $61,017,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. PKS Advisory Services LLC bought a new position in Stryker in the 4th quarter worth about $904,000. Prestige Wealth Management Group LLC boosted its position in shares of Stryker by 5.5% in the fourth quarter. Prestige Wealth Management Group LLC now owns 957 shares of the medical technology company’s stock valued at $345,000 after acquiring an additional 50 shares during the period. Heritage Wealth Management Inc. CA grew its stake in Stryker by 4,802.0% during the fourth quarter. Heritage Wealth Management Inc. CA now owns 2,451 shares of the medical technology company’s stock valued at $883,000 after acquiring an additional 2,401 shares in the last quarter. Zions Bancorporation N.A. increased its holdings in Stryker by 21.3% during the 4th quarter. Zions Bancorporation N.A. now owns 16,526 shares of the medical technology company’s stock worth $5,950,000 after acquiring an additional 2,907 shares during the period. Finally, Ashton Thomas Securities LLC lifted its stake in Stryker by 3.9% in the 4th quarter. Ashton Thomas Securities LLC now owns 1,203 shares of the medical technology company’s stock worth $434,000 after purchasing an additional 45 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Insider Transactions at Stryker

In related news, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the sale, the director now owns 14,895 shares in the company, valued at $5,705,827.65. The trade was a 14.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction on 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 completion of the transaction, the director now owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

Stryker Stock Down 0.3 %

Shares of NYSE SYK opened at $373.00 on Wednesday. The firm’s fifty day moving average is $384.76 and its 200 day moving average is $374.34. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19. 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 company has a market cap of $142.33 billion, a price-to-earnings ratio of 48.07, a PEG ratio of 2.93 and a beta of 0.95.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period in the previous year, the business earned $3.46 EPS. On average, equities research analysts expect that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is currently 43.30%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SYK shares. Truist Financial upped their price target on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. raised their price target on Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. The Goldman Sachs Group set a $422.00 price target on Stryker in a research report on Tuesday, March 4th. StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, Royal Bank of Canada lifted their target price on shares of Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $421.90.

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.