Stryker Co. (NYSE:SYK) Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp reduced its stake in Stryker Co. (NYSE:SYK) by 2.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 207,520 shares of the medical technology company’s stock after selling 5,742 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Stryker were worth $74,160,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SYK. Burkett Financial Services LLC acquired a new stake in Stryker in the 4th quarter valued at about $25,000. Farmers & Merchants Trust Co of Chambersburg PA raised its holdings in Stryker by 203.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 61 shares in the last quarter. Rogco LP purchased a new position in Stryker in the fourth quarter worth approximately $30,000. Central Pacific Bank Trust Division acquired a new position in Stryker during the 1st quarter worth approximately $39,000. Finally, DSM Capital Partners LLC purchased a new stake in shares of Stryker in the 4th quarter valued at approximately $34,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Citigroup boosted their target price on shares of Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Roth Mkm increased their price objective on Stryker from $348.00 to $405.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. UBS Group boosted their target price on Stryker from $339.00 to $351.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Wells Fargo & Company increased their price target on shares of Stryker from $364.00 to $381.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Finally, Needham & Company LLC upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $392.00 price objective for the company in a research report on Wednesday, May 22nd. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $372.05.

Stryker Stock Performance

NYSE SYK traded up $9.72 during trading on Friday, reaching $340.95. The company’s stock had a trading volume of 2,421,857 shares, compared to its average volume of 967,140. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41. The firm has a market cap of $129.88 billion, a price-to-earnings ratio of 38.92, a P/E/G ratio of 2.68 and a beta of 0.89. The business’s fifty day moving average price is $338.30 and its 200-day moving average price is $337.75. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.71.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The firm had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.10 billion. During the same quarter in the previous year, the firm posted $2.14 EPS. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, analysts anticipate that Stryker Co. will post 11.95 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be given a $0.80 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.20 dividend on an annualized basis and a yield of 0.94%. Stryker’s dividend payout ratio (DPR) is 36.53%.

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.