Stryker Co. (NYSE:SYK) Shares Purchased by Texas Permanent School Fund Corp

Texas Permanent School Fund Corp raised its position in Stryker Co. (NYSE:SYK) by 0.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 69,904 shares of the medical technology company’s stock after acquiring an additional 90 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Stryker were worth $25,017,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Burkett Financial Services LLC acquired a new stake in Stryker during the 4th quarter worth approximately $25,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its holdings in 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 acquired a new position in Stryker during the 4th quarter worth $30,000. DSM Capital Partners LLC acquired a new stake in Stryker in the 4th quarter valued at about $34,000. Finally, HBC Financial Services PLLC purchased a new position in shares of Stryker in the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on SYK shares. 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 report on Wednesday, May 22nd. TD Cowen increased their target price on Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Royal Bank of Canada lifted their price target on Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Citigroup increased their price objective on Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Finally, BTIG Research boosted their target price on Stryker from $366.00 to $369.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $370.32.

Stryker Stock Performance

Shares of SYK stock traded up $0.75 during midday trading on Thursday, hitting $338.09. The company had a trading volume of 838,370 shares, compared to its average volume of 1,282,250. The stock has a market cap of $128.80 billion, a price-to-earnings ratio of 38.51, a PEG ratio of 2.63 and a beta of 0.89. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.99. The company’s 50 day simple moving average is $337.45 and its 200 day simple moving average is $335.95. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $361.41.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (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 company 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 posted $2.14 EPS. Stryker’s revenue was up 9.7% compared to the same quarter last year. Research analysts anticipate that Stryker Co. will post 11.95 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders 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 yield of 0.95%. The ex-dividend date of this dividend is Friday, June 28th. Stryker’s dividend payout ratio 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.