New Century Financial Group LLC Takes Position in Stryker Co. (NYSE:SYK)

New Century Financial Group LLC purchased a new position in shares of Stryker Co. (NYSE:SYK) in the 1st quarter, HoldingsChannel.com reports. The institutional investor purchased 616 shares of the medical technology company’s stock, valued at approximately $220,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Burkett Financial Services LLC purchased a new position in shares of Stryker during the 4th quarter valued at $25,000. Farmers & Merchants Trust Co of Chambersburg PA increased its position in Stryker by 203.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 61 shares during the last quarter. Rogco LP purchased a new stake in shares of Stryker during the 4th quarter worth about $30,000. DSM Capital Partners LLC acquired a new stake in shares of Stryker during the 4th quarter valued at about $34,000. Finally, HBC Financial Services PLLC bought a new stake in shares of Stryker in the 4th quarter valued at approximately $37,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. Needham & Company LLC raised shares of Stryker from a “hold” rating to a “buy” rating and set a $392.00 price objective on the stock in a research report on Wednesday, May 22nd. BTIG Research upped 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. The Goldman Sachs Group started coverage on Stryker in a report on Thursday, May 30th. They set a “neutral” rating and a $372.00 target price on the stock. Wells Fargo & Company upped their price target on Stryker from $364.00 to $381.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Finally, Robert W. Baird raised their price objective on Stryker from $367.00 to $378.00 and gave the company an “outperform” rating in a research note 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. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $370.32.

Stryker Price Performance

NYSE:SYK opened at $332.02 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.99. Stryker Co. has a one year low of $249.98 and a one year high of $361.41. The company has a fifty day moving average price of $337.35 and a 200 day moving average price of $334.46. The stock has a market cap of $126.48 billion, a P/E ratio of 37.90, a PEG ratio of 2.61 and a beta of 0.89.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, beating 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 business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same quarter last year, the company earned $2.14 earnings per share. The firm’s revenue was up 9.7% on a year-over-year basis. Analysts anticipate that Stryker Co. will post 11.95 earnings per share for the current year.

Stryker Announces Dividend

The company also recently announced 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 of this dividend is Friday, June 28th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.96%. Stryker’s payout ratio is 36.53%.

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.