New England Research & Management Inc. Lowers Position in Stryker Co. (NYSE:SYK)

New England Research & Management Inc. trimmed its holdings in shares of Stryker Co. (NYSE:SYK) by 2.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,585 shares of the medical technology company’s stock after selling 100 shares during the period. New England Research & Management Inc.’s holdings in Stryker were worth $1,641,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Burkett Financial Services LLC acquired a new position in Stryker during the fourth quarter valued at approximately $25,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in shares of Stryker by 203.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 61 shares in the last quarter. Rogco LP acquired a new position in shares of Stryker during the fourth quarter worth $30,000. DSM Capital Partners LLC acquired a new position in shares of Stryker during the fourth quarter worth $34,000. Finally, HBC Financial Services PLLC acquired a new position in shares of Stryker during the fourth quarter worth $37,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SYK shares. Citigroup boosted their target price on shares of Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Evercore ISI boosted their target price on shares of Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Needham & Company LLC raised shares of 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. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, UBS Group upped their price target on shares of Stryker from $339.00 to $351.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $370.58.

Stryker Stock Down 0.0 %

SYK stock opened at $340.43 on Friday. 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 Co. has a 1-year low of $249.98 and a 1-year high of $361.41. The firm has a fifty day moving average price of $337.38 and a two-hundred day moving average price of $333.39. The firm has a market cap of $129.69 billion, a price-to-earnings ratio of 38.86, a PEG ratio of 2.68 and a beta of 0.92.

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. The business had revenue of $5.24 billion during 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 company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.14 earnings per share. Research analysts predict that Stryker Co. will post 11.95 EPS for the current 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 0.94%. 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.