Stryker Co. (NYSE:SYK) is Eagle Ridge Investment Management’s 9th Largest Position

Eagle Ridge Investment Management lowered its position in Stryker Co. (NYSE:SYK) by 0.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 87,583 shares of the medical technology company’s stock after selling 649 shares during the period. Stryker makes up approximately 2.9% of Eagle Ridge Investment Management’s investment portfolio, making the stock its 9th biggest holding. Eagle Ridge Investment Management’s holdings in Stryker were worth $31,343,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of SYK. Burkett Financial Services LLC purchased a new stake in Stryker in the 4th quarter valued at about $25,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings 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 purchasing an additional 61 shares during the period. Rogco LP bought a new position in Stryker in the fourth quarter worth approximately $30,000. DSM Capital Partners LLC purchased a new position in Stryker during the 4th quarter worth $34,000. Finally, HBC Financial Services PLLC bought a new stake in Stryker during the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of Stryker stock traded down $2.20 during midday trading on Tuesday, hitting $334.30. The company had a trading volume of 844,121 shares, compared to its average volume of 1,307,691. The stock has a market cap of $127.35 billion, a price-to-earnings ratio of 38.10, a PEG ratio of 2.68 and a beta of 0.89. Stryker Co. has a 12-month low of $249.98 and a 12-month 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. The company has a fifty day simple moving average of $337.56 and a 200 day simple moving average of $334.19.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, topping 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 business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same quarter last year, the company posted $2.14 earnings per share. The business’s quarterly revenue was up 9.7% on a year-over-year basis. As a group, analysts predict that Stryker Co. will post 11.95 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.96%. 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

A number of equities analysts have recently issued reports on the company. Robert W. Baird increased their price target on Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. UBS Group boosted 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. BTIG Research increased their price objective on shares of Stryker from $366.00 to $369.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Roth Mkm lifted their price objective on shares of Stryker from $348.00 to $405.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, Royal Bank of Canada upped their target price on Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and a consensus target price of $370.32.

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.