Park Place Capital Corp Acquires 474 Shares of Stryker Co. (NYSE:SYK)

Park Place Capital Corp lifted its holdings in Stryker Co. (NYSE:SYK) by 55.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,328 shares of the medical technology company’s stock after acquiring an additional 474 shares during the period. Park Place Capital Corp’s holdings in Stryker were worth $475,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in SYK. Vanguard Group Inc. lifted 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 worth $8,379,967,000 after purchasing an additional 143,631 shares during the last quarter. Price T Rowe Associates Inc. MD lifted 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 worth $3,755,782,000 after purchasing an additional 642,178 shares during the last quarter. Morgan Stanley lifted 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 worth $1,452,493,000 after purchasing an additional 223,728 shares during the last quarter. Franklin Resources Inc. lifted 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 worth $1,403,401,000 after purchasing an additional 29,209 shares during the last quarter. Finally, Norges Bank bought a new stake in Stryker in the fourth quarter worth about $1,260,562,000. Institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

NYSE SYK opened at $336.50 on Tuesday. The firm’s fifty day simple moving average is $337.38 and its two-hundred day simple moving average is $333.91. 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 12-month low of $249.98 and a 12-month high of $361.41. The firm has a market capitalization of $128.19 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 released its quarterly 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 business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same period in the previous year, the company earned $2.14 earnings per share. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. Analysts forecast that Stryker Co. will post 11.95 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be paid a dividend of $0.80 per share. The ex-dividend date is Friday, June 28th. This represents a $3.20 annualized dividend and a dividend yield of 0.95%. Stryker’s payout ratio is currently 36.53%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on SYK shares. Barclays raised their price objective on shares of Stryker from $372.00 to $376.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Wells Fargo & Company raised 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. UBS Group raised their target price on shares of Stryker from $339.00 to $351.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Robert W. Baird raised their target price on shares of Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Finally, Royal Bank of Canada raised 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. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $370.58.

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.