Bayesian Capital Management LP Acquires Shares of 2,500 Stryker Co. (NYSE:SYK)

Bayesian Capital Management LP 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 2,500 shares of the medical technology company’s stock, valued at approximately $895,000.

Several other institutional investors and hedge funds have also recently modified their holdings of SYK. Norges Bank bought a new stake in Stryker during the 4th quarter valued at about $1,260,562,000. Global Assets Advisory LLC bought a new stake in shares of Stryker during the first quarter valued at approximately $341,049,000. JPMorgan Chase & Co. raised its holdings in Stryker by 10.4% in the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock worth $3,096,078,000 after acquiring an additional 813,311 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in Stryker by 5.4% in 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 acquiring an additional 642,178 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its position in Stryker by 146.9% in the 1st quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock valued at $314,449,000 after acquiring an additional 522,817 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Stryker Price Performance

Shares of SYK traded down $3.68 during mid-day trading on Tuesday, reaching $329.60. The stock had a trading volume of 1,642,917 shares, compared to its average volume of 1,296,424. The firm has a market cap of $125.56 billion, a price-to-earnings ratio of 37.76, a PEG ratio of 2.61 and a beta of 0.89. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $361.41. The business has a fifty day moving average of $339.05 and a 200 day moving average of $339.49. 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 (NYSE:SYK) last issued its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share 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 company had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter in the prior year, the firm posted $2.14 EPS. Stryker’s quarterly revenue was up 9.7% compared to the same quarter last year. Equities analysts predict 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 paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.97%. The ex-dividend date is Friday, June 28th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Analyst Ratings Changes

SYK has been the subject of several recent analyst reports. Morgan Stanley boosted their price target on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. Needham & Company LLC upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $392.00 target price on the stock in a research note on Wednesday, May 22nd. Citigroup lifted their price target on shares of Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Wells Fargo & Company boosted their price objective on shares of Stryker from $364.00 to $381.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Finally, Piper Sandler raised their target price on shares of Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $372.05.

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.