Stryker Co. (NYSE:SYK) Shares Bought by Ascent Group LLC

Ascent Group LLC lifted its stake in shares of Stryker Co. (NYSE:SYK) by 1.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,631 shares of the medical technology company’s stock after buying an additional 69 shares during the quarter. Ascent Group LLC’s holdings in Stryker were worth $1,299,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Burkett Financial Services LLC acquired a new stake in shares of Stryker during the fourth quarter worth approximately $25,000. Farmers & Merchants Trust Co of Chambersburg PA boosted 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 worth $27,000 after purchasing an additional 61 shares during the period. Rogco LP acquired a new position in Stryker in the fourth quarter worth $30,000. Central Pacific Bank Trust Division acquired a new position in Stryker in the first quarter worth $39,000. Finally, DSM Capital Partners LLC acquired a new position in Stryker in the fourth quarter worth $34,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of NYSE SYK traded down $0.07 during midday trading on Tuesday, reaching $333.21. 433,349 shares of the company traded hands, compared to its average volume of 1,288,082. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $361.41. The stock has a 50-day moving average price of $339.05 and a 200 day moving average price of $339.49. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.99. The company has a market cap of $126.94 billion, a price-to-earnings ratio of 38.01, a PEG ratio of 2.61 and a beta of 0.89.

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

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Friday, June 28th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Analyst Ratings Changes

A number of research firms have commented on SYK. Roth Mkm lifted their price objective on shares of Stryker from $348.00 to $405.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Thursday, July 11th. UBS Group raised their target price on Stryker from $339.00 to $351.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Citigroup raised their target price on Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Finally, The Goldman Sachs Group assumed coverage on Stryker in a research note on Thursday, May 30th. They issued a “neutral” rating and a $372.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average 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.