Mitsubishi UFJ Trust & Banking Corp trimmed its holdings in shares of Stryker Co. (NYSE:SYK) by 20.5% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 213,952 shares of the medical technology company’s stock after selling 55,299 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.06% of Stryker worth $52,130,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Curi Capital acquired a new position in shares of Stryker during the 4th quarter worth approximately $29,000. RWM Asset Management LLC purchased a new stake in shares of Stryker during the fourth quarter worth approximately $33,000. Albion Financial Group UT purchased a new stake in shares of Stryker during the fourth quarter worth approximately $34,000. Ossiam increased its position in shares of Stryker by 294.9% during the fourth quarter. Ossiam now owns 154 shares of the medical technology company’s stock worth $38,000 after purchasing an additional 115 shares in the last quarter. Finally, Graves Light Private Wealth Management Inc. purchased a new stake in shares of Stryker during the fourth quarter worth approximately $41,000. 72.31% of the stock is owned by institutional investors and hedge funds.
NYSE SYK opened at $256.66 on Friday. The stock has a market cap of $96.70 billion, a PE ratio of 69.56, a PEG ratio of 2.92 and a beta of 0.96. The company has a current ratio of 2.27, a quick ratio of 1.39 and a debt-to-equity ratio of 0.97. Stryker Co. has a twelve month low of $171.75 and a twelve month high of $268.04. The business’s fifty day simple moving average is $254.74.
The company also recently announced 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 is Tuesday, June 29th. Stryker’s payout ratio is 33.92%.
SYK has been the subject of several research reports. Evercore ISI upgraded Stryker from an “in-line” rating to an “outperform” rating and boosted their price target for the stock from $260.00 to $285.00 in a research report on Tuesday, June 1st. Raymond James boosted their price target on Stryker from $255.00 to $290.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 28th. Truist Securities boosted their price target on Stryker from $245.00 to $255.00 in a research report on Wednesday, April 28th. Wells Fargo & Company upped their target price on Stryker from $265.00 to $300.00 and gave the company an “overweight” rating in a report on Wednesday, April 28th. Finally, Barclays started coverage on Stryker in a report on Monday, May 24th. They issued an “underweight” rating and a $280.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $268.18.
In related news, VP M Kathryn Fink sold 4,000 shares of the stock in a transaction dated Thursday, April 8th. The stock was sold at an average price of $250.00, for a total transaction of $1,000,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kevin Lobo sold 107,795 shares of the stock in a transaction dated Tuesday, May 4th. The stock was sold at an average price of $255.79, for a total value of $27,572,883.05. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by corporate insiders.
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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