New York State Common Retirement Fund lifted its position in Stryker Co. (NYSE:SYK) by 0.3% in the first quarter, HoldingsChannel.com reports. The firm owned 996,500 shares of the medical technology company’s stock after acquiring an additional 2,700 shares during the period. New York State Common Retirement Fund’s holdings in Stryker were worth $196,829,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. ERTS Wealth Advisors LLC acquired a new stake in shares of Stryker in the 4th quarter valued at about $25,000. Farmers National Bank acquired a new stake in shares of Stryker in the 1st quarter valued at about $25,000. Northwest Wealth Management LLC boosted its position in shares of Stryker by 103.6% in the 4th quarter. Northwest Wealth Management LLC now owns 169 shares of the medical technology company’s stock valued at $26,000 after purchasing an additional 86 shares during the period. Semmax Financial Advisors Inc. acquired a new stake in shares of Stryker in the 4th quarter valued at about $28,000. Finally, Horan Securities Inc. acquired a new stake in shares of Stryker in the 4th quarter valued at about $30,000. 74.71% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently issued reports on SYK. Zacks Investment Research cut Stryker from a “buy” rating to a “hold” rating in a research report on Tuesday, May 14th. Canaccord Genuity upped their price objective on Stryker from $190.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Deutsche Bank upped their price objective on Stryker from $181.00 to $208.00 and gave the company a “buy” rating in a research note on Wednesday, April 24th. Oppenheimer upped their price objective on Stryker from $183.00 to $192.00 and gave the company an “outperform” rating in a research note on Wednesday, April 24th. Finally, Wells Fargo & Co upped their price objective on Stryker from $214.00 to $219.00 and gave the company an “outperform” rating in a research note on Monday, April 1st. Seven analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $196.85.
Shares of SYK stock opened at $185.45 on Wednesday. The company has a market cap of $68.70 billion, a PE ratio of 25.37, a price-to-earnings-growth ratio of 2.24 and a beta of 0.84. Stryker Co. has a 12-month low of $144.75 and a 12-month high of $199.85. The company has a quick ratio of 1.30, a current ratio of 2.12 and a debt-to-equity ratio of 0.68.
Stryker (NYSE:SYK) last issued its earnings results on Tuesday, April 23rd. The medical technology company reported $1.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.84 by $0.04. The business had revenue of $3.52 billion during the quarter, compared to the consensus estimate of $3.51 billion. Stryker had a return on equity of 26.72% and a net margin of 25.38%. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the business posted $1.68 EPS. On average, equities research analysts expect that Stryker Co. will post 8.15 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be paid a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Thursday, June 27th. Stryker’s dividend payout ratio (DPR) is 28.45%.
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Stryker Company Profile
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 devices for use in various medical specialties.
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