Capital Planning LLC Invests $287,000 in Stryker Co. (NYSE:SYK)

Capital Planning LLC bought a new position in Stryker Co. (NYSE:SYK) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 800 shares of the medical technology company’s stock, valued at approximately $287,000.

Other institutional investors have also recently modified their holdings of the company. Harbor Investment Advisory LLC increased its holdings in Stryker by 0.4% in the 1st quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock valued at $2,499,000 after purchasing an additional 31 shares during the last quarter. Bremer Bank National Association grew its stake in shares of Stryker by 4.0% in the fourth quarter. Bremer Bank National Association now owns 888 shares of the medical technology company’s stock worth $266,000 after acquiring an additional 34 shares in the last quarter. Simon Quick Advisors LLC grew its stake in shares of Stryker by 3.0% in the fourth quarter. Simon Quick Advisors LLC now owns 1,158 shares of the medical technology company’s stock worth $347,000 after acquiring an additional 34 shares in the last quarter. Consolidated Portfolio Review Corp grew its stake in shares of Stryker by 3.6% in the fourth quarter. Consolidated Portfolio Review Corp now owns 983 shares of the medical technology company’s stock worth $294,000 after acquiring an additional 34 shares in the last quarter. Finally, FourThought Financial Partners LLC grew its stake in shares of Stryker by 3.3% in the fourth quarter. FourThought Financial Partners LLC now owns 1,076 shares of the medical technology company’s stock worth $322,000 after acquiring an additional 34 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SYK. 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 note on Thursday, April 4th. UBS Group boosted their price target on shares of Stryker from $339.00 to $351.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Stifel Nicolaus upped their target price on shares of Stryker from $350.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Piper Sandler upped their target price on shares of Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Finally, StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a research report on Monday, June 17th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $370.58.

Stryker Trading Down 1.0 %

SYK traded down $3.45 on Monday, reaching $339.19. 1,040,844 shares of the company’s stock were exchanged, compared to its average volume of 1,320,799. The company has a market cap of $129.21 billion, a price-to-earnings ratio of 38.72, a PEG ratio of 2.69 and a beta of 0.92. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.71. 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 $336.69 and its 200-day moving average is $332.60.

Stryker (NYSE:SYK) last posted 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. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The business’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.14 EPS. Equities analysts predict that Stryker Co. will post 11.95 earnings per share for the current year.

Stryker Dividend Announcement

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 annualized dividend and a dividend yield of 0.94%. 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.