Nomura Asset Management Co. Ltd. Grows Stock Position in Stryker Co. (NYSE:SYK)

Nomura Asset Management Co. Ltd. grew its holdings in Stryker Co. (NYSE:SYK - Free Report) by 44.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 147,007 shares of the medical technology company's stock after purchasing an additional 44,963 shares during the period. Nomura Asset Management Co. Ltd.'s holdings in Stryker were worth $53,108,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of SYK. Burke & Herbert Bank & Trust Co. bought a new position in Stryker in the 2nd quarter valued at approximately $340,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Stryker by 78.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company's stock valued at $45,260,000 after acquiring an additional 58,673 shares in the last quarter. ORG Partners LLC grew its position in Stryker by 788.2% during the 2nd quarter. ORG Partners LLC now owns 302 shares of the medical technology company's stock worth $102,000 after acquiring an additional 268 shares during the last quarter. Addenda Capital Inc. increased its holdings in Stryker by 11.6% in the 2nd quarter. Addenda Capital Inc. now owns 18,699 shares of the medical technology company's stock worth $6,375,000 after purchasing an additional 1,950 shares in the last quarter. Finally, GPS Wealth Strategies Group LLC raised its position in Stryker by 32.2% in the second quarter. GPS Wealth Strategies Group LLC now owns 484 shares of the medical technology company's stock valued at $165,000 after purchasing an additional 118 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on SYK. Morgan Stanley raised Stryker from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $370.00 to $445.00 in a research note on Monday, December 2nd. Evercore ISI raised their price target on shares of Stryker from $380.00 to $384.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Piper Sandler reissued an "overweight" rating and issued a $420.00 price objective (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Canaccord Genuity Group increased their price objective on Stryker from $360.00 to $400.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. lifted their target price on Stryker from $375.00 to $420.00 and gave the stock an "overweight" rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company's stock. According to data from MarketBeat, Stryker presently has a consensus rating of "Moderate Buy" and an average target price of $398.40.

Stryker Stock Up 0.5 %

SYK traded up $1.76 during trading on Tuesday, hitting $382.87. 1,281,748 shares of the company's stock were exchanged, compared to its average volume of 1,262,002. Stryker Co. has a fifty-two week low of $285.79 and a fifty-two week high of $398.20. The stock has a market cap of $145.96 billion, a P/E ratio of 41.02, a PEG ratio of 2.90 and a beta of 0.94. The business's 50 day moving average is $371.49 and its two-hundred day moving average is $354.02. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping analysts' consensus estimates of $2.77 by $0.10. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The firm's revenue was up 11.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.46 EPS. As a group, equities analysts expect that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.84 per share. This is a boost from Stryker's previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a yield of 0.88%. Stryker's dividend payout ratio (DPR) is 34.30%.

Insiders Place Their Bets

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the company's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the transaction, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the sale, the vice president now owns 10,042 shares in the company, valued at $3,715,540. The trade was a 17.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 66,781 shares of company stock valued at $24,612,275 in the last three months. 5.50% of the stock is currently owned by insiders.

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.