Norris Perne & French LLP MI Increases Stock Holdings in Stryker Co. (NYSE:SYK)

Norris Perne & French LLP MI raised its position in shares of Stryker Co. (NYSE:SYK) by 3.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,689 shares of the medical technology company’s stock after purchasing an additional 93 shares during the quarter. Norris Perne & French LLP MI’s holdings in Stryker were worth $962,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Kathmere Capital Management LLC purchased a new stake in Stryker during the 1st quarter valued at about $203,000. Capital Insight Partners LLC boosted its stake in shares of Stryker by 50.2% in the first quarter. Capital Insight Partners LLC now owns 1,709 shares of the medical technology company’s stock worth $612,000 after buying an additional 571 shares during the last quarter. Register Financial Advisors LLC purchased a new stake in shares of Stryker in the first quarter worth about $105,000. Capital Asset Advisory Services LLC boosted its stake in shares of Stryker by 3.3% in the first quarter. Capital Asset Advisory Services LLC now owns 1,277 shares of the medical technology company’s stock worth $448,000 after buying an additional 41 shares during the last quarter. Finally, Indiana Trust & Investment Management CO boosted its stake in shares of Stryker by 26.7% in the first quarter. Indiana Trust & Investment Management CO now owns 4,251 shares of the medical technology company’s stock worth $1,521,000 after buying an additional 895 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on SYK shares. The Goldman Sachs Group started coverage on Stryker in a research note on Thursday, May 30th. They issued a “neutral” rating and a $372.00 target price on the stock. Robert W. Baird upped their price target on Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. TD Cowen upped their price target on Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Piper Sandler upped their price target on Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $370.58.

Stryker Price Performance

Shares of NYSE:SYK traded up $0.51 during midday trading on Friday, hitting $340.25. The company had a trading volume of 1,894,420 shares, compared to its average volume of 1,082,587. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41. 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 stock has a market cap of $129.62 billion, a price-to-earnings ratio of 38.86, a price-to-earnings-growth ratio of 2.68 and a beta of 0.92. The business’s 50-day simple moving average is $337.38 and its 200-day simple moving average is $333.39.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. The firm 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% on a year-over-year basis. During the same quarter last year, the firm earned $2.14 earnings per share. On average, research analysts predict that Stryker Co. will post 11.95 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be given a $0.80 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.20 annualized dividend and a yield of 0.94%. Stryker’s payout ratio is 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.