Legacy Capital Group California Inc. Cuts Stock Position in Stryker Co. (NYSE:SYK)

Legacy Capital Group California Inc. lessened its holdings in Stryker Co. (NYSE:SYK) by 2.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,566 shares of the medical technology company’s stock after selling 34 shares during the period. Legacy Capital Group California Inc.’s holdings in Stryker were worth $560,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Stryker during the 4th quarter worth $1,260,562,000. Global Assets Advisory LLC acquired a new position in Stryker during the 1st quarter worth $341,049,000. Price T Rowe Associates Inc. MD grew its holdings in Stryker by 5.4% during the 4th 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 acquiring an additional 642,178 shares in the last quarter. Confluence Investment Management LLC acquired a new position in Stryker during the 1st quarter worth $93,369,000. Finally, SG Americas Securities LLC grew its holdings in Stryker by 258.7% during the 1st quarter. SG Americas Securities LLC now owns 329,020 shares of the medical technology company’s stock worth $117,746,000 after acquiring an additional 237,298 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on SYK. Evercore ISI lowered their price objective on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Royal Bank of Canada boosted their price objective on shares of Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Morgan Stanley boosted their price objective on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday. Wells Fargo & Company boosted their price objective on shares of Stryker from $364.00 to $381.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Finally, Barclays boosted their price objective on shares of Stryker from $372.00 to $376.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Stryker presently has an average rating of “Moderate Buy” and an average price target of $372.05.

Stryker Price Performance

SYK stock traded up $3.62 on Tuesday, hitting $332.18. 630,789 shares of the company’s stock traded hands, compared to its average volume of 1,274,717. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $361.41. The stock has a market cap of $126.54 billion, a price-to-earnings ratio of 37.51, a P/E/G ratio of 2.67 and a beta of 0.89. The stock has a fifty day moving average of $337.96 and a 200-day moving average of $336.99. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56.

Stryker (NYSE:SYK) last released its 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 business had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.10 billion. During the same period in the prior year, the business earned $2.14 earnings per share. The business’s quarterly revenue was up 9.7% on a year-over-year basis. On average, analysts forecast that Stryker Co. will post 11.95 EPS for the current fiscal year.

Stryker Dividend Announcement

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