Park Avenue Securities LLC Has $3.19 Million Stock Position in Stryker Co. (NYSE:SYK)

Park Avenue Securities LLC boosted its stake in Stryker Co. (NYSE:SYK) by 8.7% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 8,909 shares of the medical technology company’s stock after buying an additional 715 shares during the period. Park Avenue Securities LLC’s holdings in Stryker were worth $3,188,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Carnegie Capital Asset Management LLC grew its stake in Stryker by 0.5% in the 4th quarter. Carnegie Capital Asset Management LLC now owns 96,241 shares of the medical technology company’s stock valued at $28,820,000 after buying an additional 497 shares during the last quarter. Atlantic Edge Private Wealth Management LLC acquired a new position in shares of Stryker during the 4th quarter worth approximately $1,561,000. CoreCap Advisors LLC grew its position in shares of Stryker by 3.9% during the 4th quarter. CoreCap Advisors LLC now owns 5,030 shares of the medical technology company’s stock worth $1,506,000 after purchasing an additional 191 shares in the last quarter. Consolidated Planning Corp acquired a new position in shares of Stryker during the 4th quarter worth approximately $205,000. Finally, Meritage Portfolio Management acquired a new position in shares of Stryker during the 4th quarter worth approximately $569,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Trading Up 0.4 %

Shares of NYSE SYK opened at $342.64 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.71. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $361.41. The firm has a 50 day moving average price of $336.68 and a two-hundred day moving average price of $331.65. The stock has a market cap of $130.53 billion, a P/E ratio of 39.11, a price-to-earnings-growth ratio of 2.69 and a beta of 0.92.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $5.10 billion. During the same period in the prior year, the company posted $2.14 earnings per share. Stryker’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, equities analysts forecast that Stryker Co. will post 11.95 EPS for the current year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, June 28th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Analyst Ratings Changes

A number of brokerages have issued reports on SYK. TD Cowen increased their target price on shares of Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Piper Sandler increased their target price on shares of Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a report on Monday, June 17th. UBS Group upped 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, Stifel Nicolaus upped their price target on shares of Stryker from $350.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $370.58.

About Stryker

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.