Stryker Co. (NYSE:SYK) Shares Purchased by Comerica Bank

Comerica Bank lifted its stake in Stryker Co. (NYSE:SYK) by 2.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 130,671 shares of the medical technology company’s stock after purchasing an additional 3,219 shares during the period. Comerica Bank’s holdings in Stryker were worth $39,131,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Stryker by 0.5% in the third quarter. Vanguard Group Inc. now owns 30,665,520 shares of the medical technology company’s stock valued at $8,379,967,000 after purchasing an additional 143,631 shares during the period. FMR LLC lifted its stake in shares of Stryker by 2.5% in the third quarter. FMR LLC now owns 5,972,582 shares of the medical technology company’s stock valued at $1,632,127,000 after purchasing an additional 144,208 shares during the period. Morgan Stanley lifted its stake in shares of Stryker by 4.4% in the third quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock valued at $1,452,493,000 after purchasing an additional 223,728 shares during the period. Franklin Resources Inc. increased its holdings in Stryker by 0.6% during the 4th quarter. Franklin Resources Inc. now owns 4,686,440 shares of the medical technology company’s stock valued at $1,403,401,000 after acquiring an additional 29,209 shares in the last quarter. Finally, Norges Bank purchased a new position in Stryker during the 4th quarter valued at about $1,260,562,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Trading Up 0.0 %

NYSE SYK opened at $346.41 on Thursday. The company’s fifty day simple moving average is $337.09 and its 200-day simple moving average is $329.43. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $361.41. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. The stock has a market cap of $131.96 billion, a P/E ratio of 39.54, a PEG ratio of 2.74 and a beta of 0.92.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 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 for the quarter, compared to analysts’ expectations of $5.10 billion. During the same period in the previous year, the company posted $2.14 earnings per share. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. Equities research analysts predict that Stryker Co. will post 11.95 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a $0.80 dividend. The ex-dividend date is Friday, June 28th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.92%. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on SYK. Citigroup raised their target price on shares of Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Royal Bank of Canada raised their target price on shares of Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Wells Fargo & Company lifted their price target on shares of Stryker from $364.00 to $381.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. UBS Group lifted their price target on shares of Stryker from $339.00 to $351.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group began coverage on shares of Stryker in a report on Thursday, May 30th. They set a “neutral” rating and a $372.00 price target for the company. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and an average target price of $370.58.

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.