Sumitomo Life Insurance Co. Trims Stock Position in Stryker Co. (NYSE:SYK)

Sumitomo Life Insurance Co. reduced its stake in Stryker Co. (NYSE:SYK) by 1.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 11,041 shares of the medical technology company’s stock after selling 160 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Stryker were worth $3,975,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SYK. Dunhill Financial LLC grew its position in Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after buying an additional 37 shares during the last quarter. Centennial Bank AR lifted its stake in shares of Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after acquiring an additional 48 shares during the period. Darwin Wealth Management LLC purchased a new stake in shares of Stryker in the third quarter valued at about $36,000. Hara Capital LLC acquired a new position in shares of Stryker during the third quarter worth about $42,000. Finally, HBW Advisory Services LLC purchased a new position in Stryker during the third quarter worth about $42,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Trading Down 1.2 %

NYSE SYK opened at $394.92 on Wednesday. The company has a 50-day moving average of $376.32 and a 200-day moving average of $361.59. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. Stryker Co. has a 12 month low of $310.74 and a 12 month high of $406.19. The company has a market cap of $150.55 billion, a P/E ratio of 42.33, a P/E/G ratio of 2.68 and a beta of 0.95.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a net margin of 16.34% and a return on equity of 23.07%. During the same period last year, the firm posted $3.46 EPS. As a group, equities analysts predict that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.85%. This is an increase from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. Stryker’s dividend payout ratio (DPR) is 36.01%.

Insider Activity

In other news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 5.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. Canaccord Genuity Group lifted their price target on Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Citigroup boosted their target price on shares of Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Robert W. Baird increased their price target on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Needham & Company LLC restated a “buy” rating and set a $442.00 target price on shares of Stryker in a research report on Tuesday, January 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $425.00 price target on shares of Stryker in a research report on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and a consensus target price of $405.80.

About Stryker

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.