Connors Investor Services Inc. Has $9.45 Million Holdings in Stryker Co. (NYSE:SYK)

Connors Investor Services Inc. reduced its stake in shares of Stryker Co. (NYSE:SYK) by 52.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,396 shares of the medical technology company’s stock after selling 28,864 shares during the quarter. Connors Investor Services Inc.’s holdings in Stryker were worth $9,446,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Burkett Financial Services LLC acquired a new position in Stryker during the 4th quarter valued at $25,000. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in shares of Stryker by 203.3% in the 4th 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 in the last quarter. Rogco LP acquired a new position in shares of Stryker in the 4th quarter valued at $30,000. DSM Capital Partners LLC acquired a new position in shares of Stryker in the 4th quarter valued at $34,000. Finally, HBC Financial Services PLLC acquired a new position in shares of Stryker in the 4th quarter valued at $37,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of Stryker from $339.00 to $351.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Needham & Company LLC upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $392.00 price objective for the company in a research note on Wednesday, May 22nd. Royal Bank of Canada increased their price objective on shares of Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Piper Sandler increased their price objective on shares of Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Finally, BTIG Research upped their target price on shares of Stryker from $369.00 to $372.00 and gave the stock a “buy” rating in a report on Monday, July 15th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Stryker has an average rating of “Moderate Buy” and a consensus price target of $372.05.

Stryker Price Performance

NYSE:SYK traded up $9.72 during mid-day trading on Friday, reaching $340.95. 2,421,857 shares of the company were exchanged, compared to its average volume of 967,140. The stock has a market cap of $129.88 billion, a PE ratio of 38.92, a PEG ratio of 2.68 and a beta of 0.89. 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 Co. has a 12 month low of $249.98 and a 12 month high of $361.41. The company has a fifty day moving average of $338.30 and a 200 day moving average of $338.05.

Stryker (NYSE:SYK) last issued its earnings results 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. The company had revenue of $5.24 billion for 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 revenue for the quarter was up 9.7% on a year-over-year basis. During the same quarter last year, the firm earned $2.14 EPS. On average, research analysts anticipate that Stryker Co. will post 11.95 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently announced 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. This represents a $3.20 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Friday, June 28th. Stryker’s dividend payout ratio (DPR) 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.