Morse Asset Management Inc Acquires Shares of 1,110 Stryker Co. (NYSE:SYK)

Morse Asset Management Inc acquired a new stake in shares of Stryker Co. (NYSE:SYK) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,110 shares of the medical technology company’s stock, valued at approximately $397,000.

A number of other hedge funds also recently bought and sold shares of SYK. Burkett Financial Services LLC purchased a new stake in Stryker during the fourth quarter valued at about $25,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in shares of 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 worth $27,000 after purchasing an additional 61 shares in the last quarter. Rogco LP purchased a new stake in shares of Stryker in the fourth quarter worth approximately $30,000. DSM Capital Partners LLC purchased a new stake in shares of Stryker in the fourth quarter worth approximately $34,000. Finally, HBC Financial Services PLLC purchased a new stake in shares of Stryker in the fourth quarter worth approximately $37,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Performance

SYK stock traded up $4.23 during midday trading on Friday, hitting $331.67. 1,679,993 shares of the company traded hands, compared to its average volume of 1,084,425. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56. The business has a 50 day simple moving average of $338.99 and a 200-day simple moving average of $339.32. The stock has a market capitalization of $126.35 billion, a price-to-earnings ratio of 37.86, a price-to-earnings-growth ratio of 2.61 and a beta of 0.89.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share 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 company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same period in the prior year, the business earned $2.14 earnings per share. Stryker’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, equities research analysts predict that Stryker Co. will post 11.95 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders 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 annualized dividend and a dividend yield of 0.96%. Stryker’s dividend payout ratio is 36.53%.

Wall Street Analysts Forecast Growth

SYK has been the subject of a number of research analyst reports. Citigroup increased their price target on shares of Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Robert W. Baird increased their price target on shares of Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Piper Sandler increased their price target on shares of Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a report on Thursday, July 11th. Finally, Roth Mkm increased their price objective on Stryker from $348.00 to $405.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $372.05.

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.