Meiji Yasuda Life Insurance Co Has $1.98 Million Position in Stryker Co. (NYSE:SYK)

Meiji Yasuda Life Insurance Co lowered its holdings in Stryker Co. (NYSE:SYK) by 10.7% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 5,814 shares of the medical technology company’s stock after selling 697 shares during the quarter. Meiji Yasuda Life Insurance Co’s holdings in Stryker were worth $1,978,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Burkett Financial Services LLC acquired a new stake in Stryker in the 4th quarter valued at $25,000. Central Pacific Bank Trust Division acquired a new stake in Stryker in the 1st quarter valued at $39,000. DSM Capital Partners LLC bought a new position in Stryker during the 4th quarter valued at $34,000. Accent Capital Management LLC bought a new position in Stryker during the 4th quarter valued at $60,000. Finally, Sachetta LLC bought a new position in Stryker during the 4th quarter valued at $62,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SYK. Royal Bank of Canada restated an “outperform” rating and set a $386.00 price objective on shares of Stryker in a research note on Wednesday, July 31st. StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a research note on Monday. Piper Sandler restated an “overweight” rating and set a $380.00 price objective on shares of Stryker in a research note on Tuesday, September 10th. Evercore ISI dropped their price objective on Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. Finally, Morgan Stanley lifted their target price on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $378.58.

Insider Transactions at Stryker

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the completion of the sale, the director now owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the sale, the chief financial officer now owns 2,852 shares of the company’s stock, valued at approximately $949,716. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 220,068 shares of company stock valued at $71,811,372. 5.90% of the stock is owned by corporate insiders.

Stryker Stock Down 2.1 %

SYK stock opened at $364.00 on Wednesday. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $138.71 billion, a PE ratio of 41.55, a PEG ratio of 2.87 and a beta of 0.91. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $374.63. The stock has a 50-day simple moving average of $343.60 and a two-hundred day simple moving average of $342.61.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the previous year, the firm earned $2.54 EPS. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, equities analysts predict that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s payout ratio is 36.53%.

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.