Magnetar Financial LLC Makes New Investment in Stryker Co. (NYSE:SYK)

Magnetar Financial LLC acquired a new position in Stryker Co. (NYSE:SYK) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 2,160 shares of the medical technology company’s stock, valued at approximately $773,000.

A number of other institutional investors have also modified their holdings of SYK. Burkett Financial Services LLC acquired a new stake in shares of Stryker in the 4th quarter valued at about $25,000. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in shares of Stryker by 203.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 61 shares in the last quarter. Rogco LP bought a new stake in shares of Stryker during the 4th quarter valued at about $30,000. DSM Capital Partners LLC bought a new stake in shares of Stryker during the 4th quarter valued at about $34,000. Finally, HBC Financial Services PLLC bought a new stake in shares of Stryker during the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Down 0.1 %

Shares of SYK traded down $0.43 during mid-day trading on Monday, hitting $331.24. 56,852 shares of the company’s stock were exchanged, compared to its average volume of 1,282,473. The firm has a fifty day moving average of $338.99 and a two-hundred day moving average of $339.32. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41. The stock has a market cap of $126.19 billion, a price-to-earnings ratio of 37.86, a P/E/G ratio of 2.61 and a beta of 0.89. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same quarter in the prior year, the business posted $2.14 EPS. Stryker’s quarterly revenue was up 9.7% on a year-over-year basis. On average, sell-side analysts forecast that Stryker Co. will post 11.95 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a $0.80 dividend. The ex-dividend date is Friday, June 28th. This represents a $3.20 dividend on an annualized basis and a yield of 0.97%. Stryker’s payout ratio is presently 36.53%.

Wall Street Analysts Forecast Growth

Several research firms have commented on SYK. The Goldman Sachs Group assumed coverage on shares of Stryker in a research report on Thursday, May 30th. They issued a “neutral” rating and a $372.00 target price for the company. Robert W. Baird increased their price objective on shares of Stryker from $367.00 to $378.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Roth Mkm increased their target price on shares of Stryker from $348.00 to $405.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Wells Fargo & Company increased their target price 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, StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.