Acadian Asset Management LLC Buys 24,946 Shares of Stryker Co. (NYSE:SYK)

Acadian Asset Management LLC boosted its position in shares of Stryker Co. (NYSE:SYK) by 80.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 56,006 shares of the medical technology company’s stock after purchasing an additional 24,946 shares during the quarter. Acadian Asset Management LLC’s holdings in Stryker were worth $20,036,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Dynamic Advisor Solutions LLC grew its holdings in Stryker by 56.6% in the fourth quarter. Dynamic Advisor Solutions LLC now owns 2,945 shares of the medical technology company’s stock worth $870,000 after purchasing an additional 1,064 shares during the last quarter. Brookstone Capital Management raised its stake in shares of Stryker by 2.2% in the fourth quarter. Brookstone Capital Management now owns 8,198 shares of the medical technology company’s stock worth $2,455,000 after purchasing an additional 176 shares during the last quarter. Cyndeo Wealth Partners LLC lifted its holdings in shares of Stryker by 4.3% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 1,079 shares of the medical technology company’s stock worth $323,000 after purchasing an additional 44 shares during the period. Fortitude Family Office LLC purchased a new stake in Stryker in the fourth quarter valued at approximately $55,000. Finally, Advisor Resource Council acquired a new position in Stryker in the 4th quarter worth approximately $231,000. 77.09% of the stock is owned by institutional investors.

Stryker Trading Up 0.2 %

Shares of SYK stock traded up $0.57 on Monday, hitting $341.52. 552,878 shares of the stock traded hands, compared to its average volume of 1,279,969. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41. The stock has a market capitalization of $130.10 billion, a PE ratio of 38.92, a PEG ratio of 2.68 and a beta of 0.89. The firm’s 50-day moving average price is $338.30 and its two-hundred day moving average price is $338.05. 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 (NYSE:SYK) last released 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. The firm had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.14 EPS. As a group, analysts anticipate that Stryker Co. will post 11.95 EPS for the current year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend 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

Several research firms have recently commented on SYK. The Goldman Sachs Group assumed coverage on shares of Stryker in a research note on Thursday, May 30th. They issued a “neutral” rating and a $372.00 price objective on the stock. BTIG Research raised their price objective on shares of Stryker from $369.00 to $372.00 and gave the stock a “buy” rating in a research note on Monday, July 15th. Evercore ISI dropped their price target on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Robert W. Baird increased their target price on shares of Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. Finally, StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.