Norris Perne & French LLP MI Boosts Position in Stryker Co. (NYSE:SYK)

Norris Perne & French LLP MI lifted its position in shares of Stryker Co. (NYSE:SYK) by 3.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,689 shares of the medical technology company’s stock after purchasing an additional 93 shares during the quarter. Norris Perne & French LLP MI’s holdings in Stryker were worth $962,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in SYK. Burkett Financial Services LLC purchased a new stake in Stryker in the 4th quarter valued at about $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 valued at $27,000 after purchasing an additional 61 shares in the last quarter. Rogco LP purchased a new stake in Stryker in the fourth quarter valued at approximately $30,000. DSM Capital Partners LLC purchased a new stake in Stryker in the fourth quarter valued at approximately $34,000. Finally, HBC Financial Services PLLC purchased a new stake in Stryker in the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of Stryker stock traded up $0.51 during mid-day trading on Friday, hitting $340.25. 1,894,420 shares of the stock were exchanged, compared to its average volume of 1,082,587. The company has a 50-day simple moving average of $337.38 and a 200 day simple moving average of $333.39. 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 Co. has a 12 month low of $249.98 and a 12 month high of $361.41. The company has a market capitalization of $129.62 billion, a P/E ratio of 38.86, a P/E/G ratio of 2.68 and a beta of 0.92.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, beating 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 firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same period last year, the firm earned $2.14 EPS. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. Sell-side analysts anticipate that Stryker Co. will post 11.95 earnings per share for the current fiscal year.

Stryker Dividend Announcement

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 paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Friday, June 28th. Stryker’s dividend payout ratio is presently 36.53%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Robert W. Baird increased their price objective on Stryker from $367.00 to $378.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. UBS Group raised their price objective on Stryker from $339.00 to $351.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Evercore ISI raised their price objective on Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Citigroup lifted their target price on Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Finally, BTIG Research boosted their price objective on Stryker from $366.00 to $369.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and a consensus target price of $370.58.

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.