Stryker Co. (NYSE:SYK) Stake Lessened by Pensioenfonds Rail & OV

Pensioenfonds Rail & OV cut its stake in Stryker Co. (NYSE:SYK) by 37.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 103,745 shares of the medical technology company’s stock after selling 62,916 shares during the quarter. Stryker makes up 2.7% of Pensioenfonds Rail & OV’s portfolio, making the stock its 23rd biggest holding. Pensioenfonds Rail & OV’s holdings in Stryker were worth $37,210,000 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 stock. Burkett Financial Services LLC acquired a new position in Stryker during the fourth quarter worth $25,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in shares of Stryker by 203.3% in the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after buying an additional 61 shares during the period. Rogco LP bought a new stake in shares of Stryker in the fourth quarter valued at about $30,000. DSM Capital Partners LLC bought a new stake in shares of Stryker in the fourth quarter valued at about $34,000. Finally, HBC Financial Services PLLC bought a new stake in shares of Stryker in the fourth quarter valued at about $37,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on SYK. Barclays raised their price target on shares of Stryker from $372.00 to $376.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Needham & Company LLC raised shares of Stryker from a “hold” rating to a “buy” rating and set a $392.00 price target for the company in a report on Wednesday, May 22nd. Piper Sandler raised their price target on shares of Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Robert W. Baird lifted their target price on shares of Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Finally, Evercore ISI lifted their target price on shares of Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and an average price target of $370.58.

Stryker Stock Up 0.3 %

SYK traded up $0.96 during midday trading on Wednesday, hitting $340.51. The company had a trading volume of 959,063 shares, compared to its average volume of 1,314,322. The company has a market capitalization of $129.72 billion, a price-to-earnings ratio of 38.82, a PEG ratio of 2.67 and a beta of 0.92. The stock’s 50 day moving average price is $336.73 and its 200 day moving average price is $332.95. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $361.41. 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 released its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The firm had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.10 billion. During the same period in the previous year, the company earned $2.14 earnings per share. The company’s quarterly revenue was up 9.7% on a year-over-year basis. On average, 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 disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders 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 0.94%. Stryker’s dividend payout ratio (DPR) is 36.53%.

Stryker 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.