Concurrent Investment Advisors LLC Raises Holdings in Stryker Co. (NYSE:SYK)

Concurrent Investment Advisors LLC lifted its stake in Stryker Co. (NYSE:SYK) by 2.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,698 shares of the medical technology company’s stock after buying an additional 164 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Stryker were worth $2,755,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Greenleaf Trust boosted its position in Stryker by 0.6% during the first quarter. Greenleaf Trust now owns 18,596,387 shares of the medical technology company’s stock worth $6,655,089,000 after purchasing an additional 108,080 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Stryker by 5.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock worth $3,755,782,000 after purchasing an additional 642,178 shares in the last quarter. Franklin Resources Inc. boosted its position in Stryker by 0.6% during the fourth quarter. Franklin Resources Inc. now owns 4,686,440 shares of the medical technology company’s stock worth $1,403,401,000 after purchasing an additional 29,209 shares in the last quarter. Norges Bank purchased a new position in Stryker during the fourth quarter worth approximately $1,260,562,000. Finally, Fisher Asset Management LLC boosted its position in Stryker by 2.6% during the fourth quarter. Fisher Asset Management LLC now owns 4,042,317 shares of the medical technology company’s stock worth $1,210,512,000 after purchasing an additional 103,326 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Needham & Company LLC raised Stryker from a “hold” rating to a “buy” rating and set a $392.00 target price for the company in a report on Wednesday, May 22nd. Piper Sandler increased their target price on Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Morgan Stanley increased their target price on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday. Robert W. Baird increased their target price on Stryker from $367.00 to $378.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Finally, TD Cowen increased their target price on Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $372.05.

Stryker Trading Down 3.2 %

SYK stock traded down $10.85 during midday trading on Monday, hitting $328.52. 974,507 shares of the company’s stock were exchanged, compared to its average volume of 1,276,621. The business has a 50-day simple moving average of $337.90 and a two-hundred day simple moving average of $336.78. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $125.15 billion, a PE ratio of 37.72, a P/E/G ratio of 2.67 and a beta of 0.89. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $361.41.

Stryker (NYSE:SYK) last released 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 return on equity of 23.05% and a net margin of 16.03%. The business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.10 billion. During the same period last year, the business posted $2.14 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. On average, sell-side analysts predict that Stryker Co. will post 11.95 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.20 annualized dividend and a dividend yield of 0.97%. Stryker’s dividend payout ratio is currently 36.53%.

Stryker Company 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.