Virtu Financial LLC Takes Position in Stryker Co. (NYSE:SYK)

Virtu Financial LLC acquired a new position in shares of Stryker Co. (NYSE:SYK) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 2,498 shares of the medical technology company’s stock, valued at approximately $748,000.

Several other large investors have also added to or reduced their stakes in SYK. Norges Bank purchased a new stake in shares of Stryker in the fourth quarter worth about $1,260,562,000. Magellan Asset Management Ltd lifted its stake in Stryker by 74,911.8% in the 3rd quarter. Magellan Asset Management Ltd now owns 680,357 shares of the medical technology company’s stock worth $185,921,000 after purchasing an additional 679,450 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Stryker by 5.4% during the 4th 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 holdings 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 worth $1,452,493,000 after purchasing an additional 223,728 shares during the period. Finally, The Manufacturers Life Insurance Company raised its position in shares of Stryker by 24.2% in the third quarter. The Manufacturers Life Insurance Company now owns 1,115,955 shares of the medical technology company’s stock worth $304,957,000 after buying an additional 217,672 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Trading Up 0.6 %

Shares of SYK opened at $344.98 on Monday. The firm has a fifty day simple moving average of $336.88 and a two-hundred day simple moving average of $330.40. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41. The stock has a market capitalization of $131.42 billion, a P/E ratio of 39.38, a PEG ratio of 2.72 and a beta of 0.92. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. The company had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. Stryker’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the firm earned $2.14 earnings per share. On average, research analysts anticipate that Stryker Co. will post 11.95 EPS for the current year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a dividend of $0.80 per share. 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 0.93%. Stryker’s dividend payout ratio is presently 36.53%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on SYK. Barclays upped their target price on Stryker from $372.00 to $376.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Piper Sandler lifted their target price on shares of Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Royal Bank of Canada boosted their price target on shares of Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Robert W. Baird lifted their price objective on shares of Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Finally, UBS Group raised their price target on Stryker from $339.00 to $351.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.