Salem Investment Counselors Inc. Boosts Holdings in Stryker Co. (NYSE:SYK)

Salem Investment Counselors Inc. grew its position in shares of Stryker Co. (NYSE:SYK) by 119.4% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,747 shares of the medical technology company’s stock after purchasing an additional 2,583 shares during the period. Salem Investment Counselors Inc.’s holdings in Stryker were worth $1,703,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Burkett Financial Services LLC acquired a new stake in shares of Stryker during the fourth quarter worth approximately $25,000. Farmers & Merchants Trust Co of Chambersburg PA grew its position in shares of Stryker by 203.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after buying an additional 61 shares in the last quarter. Rogco LP acquired a new stake in shares of Stryker during the fourth quarter worth approximately $30,000. DSM Capital Partners LLC acquired a new stake in shares of Stryker during the fourth quarter worth approximately $34,000. Finally, HBC Financial Services PLLC acquired a new stake in shares of Stryker during the fourth quarter worth approximately $37,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

Shares of NYSE SYK opened at $342.64 on Monday. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $361.41. The firm’s 50-day simple moving average is $336.68 and its 200 day simple moving average is $332.25. 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 stock has a market cap of $130.53 billion, a P/E ratio of 39.11, a P/E/G ratio of 2.69 and a beta of 0.92.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, beating 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 business earned $2.14 earnings per share. The company’s revenue was up 9.7% on a year-over-year basis. Equities analysts expect that Stryker Co. will post 11.95 EPS for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Friday, June 28th. Stryker’s dividend payout ratio is currently 36.53%.

Analysts Set New Price Targets

SYK has been the subject of a number of recent analyst reports. Royal Bank of Canada raised their price target on shares of Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Evercore ISI lifted their price objective on shares of Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Roth Mkm lifted their price objective on shares of Stryker from $348.00 to $405.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. BTIG Research lifted their price objective on shares of Stryker from $366.00 to $369.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, UBS Group lifted their price objective on shares of Stryker from $339.00 to $351.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and a consensus target price of $370.58.

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.