Sunbelt Securities Inc. Trims Stock Position in Stryker Co. (NYSE:SYK)

Sunbelt Securities Inc. decreased its position in Stryker Co. (NYSE:SYK) by 16.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 500 shares of the medical technology company’s stock after selling 97 shares during the period. Sunbelt Securities Inc.’s holdings in Stryker were worth $179,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Burkett Financial Services LLC bought a new position in shares of Stryker during the 4th quarter worth $25,000. Farmers & Merchants Trust Co of Chambersburg PA raised its holdings in shares of 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 valued at $27,000 after purchasing an additional 61 shares in the last quarter. Rogco LP purchased a new stake in shares of Stryker in the 4th quarter worth approximately $30,000. DSM Capital Partners LLC bought a new position in shares of Stryker during the fourth quarter valued at approximately $34,000. Finally, HBC Financial Services PLLC purchased a new position in Stryker during the fourth quarter valued at approximately $37,000. Institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Piper Sandler increased their target price on Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Robert W. Baird lifted their target price on Stryker from $367.00 to $378.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. 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 report on Monday, April 15th. Barclays raised their price target on shares of Stryker from $372.00 to $376.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Finally, StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and an average target price of $370.58.

Stryker Price Performance

Shares of NYSE:SYK opened at $340.43 on Friday. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41. The company’s 50 day moving average is $337.38 and its 200 day moving average is $333.39. The company has a market cap of $129.69 billion, a PE ratio of 38.86, a price-to-earnings-growth ratio of 2.68 and a beta of 0.92.

Stryker (NYSE:SYK) last issued 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. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The firm 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 posted $2.14 earnings per share. The firm’s revenue was up 9.7% compared to the same quarter last year. On average, sell-side analysts forecast that Stryker Co. will post 11.95 EPS for the current year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.94%. Stryker’s payout ratio is 36.53%.

Stryker Company 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.