Steele Capital Management Inc. Buys Shares of 583 Stryker Co. (NYSE:SYK)

Steele Capital Management Inc. bought a new stake in Stryker Co. (NYSE:SYK) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 583 shares of the medical technology company’s stock, valued at approximately $209,000.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. increased its stake in 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 in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Stryker by 5.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after purchasing an additional 642,178 shares in the last quarter. Morgan Stanley increased its stake in 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 in the last quarter. Franklin Resources Inc. increased its stake in Stryker by 0.6% in the fourth quarter. Franklin Resources Inc. now owns 4,686,440 shares of the medical technology company’s stock valued at $1,403,401,000 after purchasing an additional 29,209 shares in the last quarter. Finally, Norges Bank bought a new stake in Stryker in the fourth quarter valued at $1,260,562,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the subject of several recent research reports. Wells Fargo & Company boosted their target price on shares of Stryker from $364.00 to $381.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Evercore ISI boosted their target price on shares of Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a research report on Thursday, April 4th. Royal Bank of Canada boosted their target price 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. Stifel Nicolaus boosted their target price on shares of Stryker from $350.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, The Goldman Sachs Group initiated coverage on shares of Stryker in a research report on Thursday, May 30th. They set a “neutral” rating and a $372.00 target price for the company. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $370.58.

Stryker Price Performance

NYSE:SYK opened at $335.50 on Tuesday. Stryker Co. has a 12 month low of $249.98 and a 12 month 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 business’s 50-day moving average is $337.38 and its 200 day moving average is $333.91. The company has a market capitalization of $127.81 billion, a P/E ratio of 38.41, a P/E/G ratio of 2.68 and a beta of 0.89.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. During the same period in the prior year, the business posted $2.14 earnings per share. The company’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, equities research analysts forecast that Stryker Co. will post 11.95 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The company 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 $0.80 dividend. The ex-dividend date is Friday, June 28th. This represents a $3.20 annualized dividend and a yield of 0.95%. Stryker’s dividend payout ratio (DPR) is currently 36.53%.

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.