Catalina Capital Group LLC Raises Position in Stryker Co. (NYSE:SYK)

Catalina Capital Group LLC increased its stake in shares of Stryker Co. (NYSE:SYK) by 103.9% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 1,527 shares of the medical technology company’s stock after acquiring an additional 778 shares during the period. Catalina Capital Group LLC’s holdings in Stryker were worth $546,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of SYK. Norges Bank bought a new stake in shares of Stryker in the fourth quarter worth $1,260,562,000. Global Assets Advisory LLC acquired a new position in Stryker in the first quarter worth about $341,049,000. Price T Rowe Associates Inc. MD increased its holdings in Stryker by 5.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after buying an additional 642,178 shares during the last quarter. Confluence Investment Management LLC acquired a new stake in Stryker during the first quarter valued at approximately $93,369,000. Finally, Clearbridge Investments LLC lifted its holdings in Stryker by 9.7% during the 4th quarter. Clearbridge Investments LLC now owns 2,274,950 shares of the medical technology company’s stock worth $681,257,000 after buying an additional 200,823 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the topic of a number of recent research reports. Royal Bank of Canada raised their target price on shares of Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Evercore ISI lowered their price objective on Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Citigroup boosted their price target on shares of Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Needham & Company LLC raised shares of Stryker from a “hold” rating to a “buy” rating and set a $392.00 price objective on the stock in a report on Wednesday, May 22nd. Finally, UBS Group lifted their price objective on shares of Stryker from $339.00 to $351.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $370.32.

Stryker Price Performance

Stryker stock traded up $1.77 during mid-day trading on Wednesday, hitting $337.34. The company’s stock had a trading volume of 725,633 shares, compared to its average volume of 1,285,529. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41. The stock’s fifty day moving average price is $337.27 and its two-hundred day moving average price is $335.94. The stock has a market capitalization of $128.51 billion, a P/E ratio of 38.31, a P/E/G ratio of 2.63 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 earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. Stryker’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.14 earnings per share. Research analysts forecast that Stryker Co. will post 11.95 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a dividend of $0.80 per share. The ex-dividend date is Friday, June 28th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.95%. Stryker’s dividend payout ratio is 36.53%.

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.