Quantbot Technologies LP Takes Position in Stryker Co. (NYSE:SYK)

Quantbot Technologies LP purchased a new position in shares of Stryker Co. (NYSE:SYK) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 12,189 shares of the medical technology company’s stock, valued at approximately $4,362,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of SYK. Townsquare Capital LLC lifted its position in Stryker by 3.8% during the 3rd quarter. Townsquare Capital LLC now owns 7,035 shares of the medical technology company’s stock worth $1,922,000 after acquiring an additional 258 shares during the period. Silver Oak Securities Incorporated acquired a new stake in shares of Stryker during the third quarter worth $269,000. Comerica Bank acquired a new stake in shares of Stryker during the third quarter worth $34,829,000. Allen Mooney & Barnes Investment Advisors LLC purchased a new position in Stryker in the 3rd quarter valued at $241,000. Finally, Public Sector Pension Investment Board increased its stake in Stryker by 11.9% in the 3rd quarter. Public Sector Pension Investment Board now owns 36,206 shares of the medical technology company’s stock valued at $9,894,000 after buying an additional 3,855 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Price Performance

Shares of Stryker stock traded up $1.28 during trading on Friday, hitting $339.37. 812,736 shares of the company were exchanged, compared to its average volume of 1,278,893. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two 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. The firm has a 50 day moving average price of $337.68 and a 200 day moving average price of $335.97. The stock has a market capitalization of $129.28 billion, a price-to-earnings ratio of 38.59, a P/E/G ratio of 2.66 and a beta of 0.89.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.14 earnings per share. On average, equities analysts expect that Stryker Co. will post 11.95 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid 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%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on SYK. Evercore ISI lowered their target price on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. The Goldman Sachs Group began coverage on Stryker in a report on Thursday, May 30th. They issued a “neutral” rating and a $372.00 price objective on the stock. Needham & Company LLC upgraded 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. UBS Group raised their price target on Stryker from $339.00 to $351.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Finally, StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $370.32.

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.