Commonwealth of Pennsylvania Public School Empls Retrmt SYS Grows Position in Stryker Co. (NYSE:SYK)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Stryker Co. (NYSE:SYK) by 0.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 74,233 shares of the medical technology company’s stock after purchasing an additional 192 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Stryker were worth $26,566,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Aspen Investment Management Inc grew its holdings in shares of Stryker by 0.7% during the 1st quarter. Aspen Investment Management Inc now owns 4,368 shares of the medical technology company’s stock worth $1,563,000 after purchasing an additional 31 shares during the period. Harbor Investment Advisory LLC lifted its stake in Stryker by 0.4% during the 1st quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock worth $2,499,000 after acquiring an additional 31 shares in the last quarter. Proficio Capital Partners LLC lifted its stake in Stryker by 2.4% during the 1st quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock worth $507,000 after acquiring an additional 33 shares in the last quarter. Bremer Bank National Association raised its position in Stryker by 4.0% in the 4th quarter. Bremer Bank National Association now owns 888 shares of the medical technology company’s stock valued at $266,000 after purchasing an additional 34 shares in the last quarter. Finally, Simon Quick Advisors LLC raised its position in Stryker by 3.0% in the 4th quarter. Simon Quick Advisors LLC now owns 1,158 shares of the medical technology company’s stock valued at $347,000 after purchasing an additional 34 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Stock Performance

Shares of SYK stock traded up $4.86 during midday trading on Tuesday, hitting $333.42. The company had a trading volume of 1,336,429 shares, compared to its average volume of 1,279,944. The company’s 50 day simple moving average is $337.98 and its 200 day simple moving average is $337.23. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $361.41. The stock has a market cap of $127.02 billion, a price-to-earnings ratio of 38.06, a PEG ratio of 2.67 and a beta of 0.89. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.99.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, beating 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 company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. During the same period last year, the business posted $2.14 EPS. The company’s revenue was up 9.7% on a year-over-year basis. Research 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. 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 dividend yield of 0.96%. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on SYK shares. Robert W. Baird increased their price target on Stryker from $367.00 to $378.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Piper Sandler raised their target price on Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Needham & Company LLC raised Stryker from a “hold” rating to a “buy” rating and set a $392.00 target price on the stock in a research report on Wednesday, May 22nd. The Goldman Sachs Group initiated coverage on Stryker in a research report on Thursday, May 30th. They set a “neutral” rating and a $372.00 target price on the stock. Finally, UBS Group raised their target price on Stryker from $339.00 to $351.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus 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.