Kennedy Capital Management LLC Acquires Shares of 2,675 Stryker Co. (NYSE:SYK)

Kennedy Capital Management LLC purchased a new stake in Stryker Co. (NYSE:SYK) in the 1st quarter, HoldingsChannel reports. The fund purchased 2,675 shares of the medical technology company’s stock, valued at approximately $957,000.

A number of other hedge funds have also recently made changes to their positions in SYK. Aspen Investment Management Inc raised its stake in shares of Stryker by 0.7% in the first quarter. Aspen Investment Management Inc now owns 4,368 shares of the medical technology company’s stock worth $1,563,000 after purchasing an additional 31 shares during the last quarter. Harbor Investment Advisory LLC boosted its position in Stryker by 0.4% in the first quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock worth $2,499,000 after purchasing an additional 31 shares during the last quarter. Proficio Capital Partners LLC grew its stake in Stryker by 2.4% in the 1st quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock valued at $507,000 after purchasing an additional 33 shares during the period. Consolidated Portfolio Review Corp increased its position in shares of Stryker by 3.6% during the 4th quarter. Consolidated Portfolio Review Corp now owns 983 shares of the medical technology company’s stock valued at $294,000 after purchasing an additional 34 shares during the last quarter. Finally, FourThought Financial Partners LLC boosted its holdings in shares of Stryker by 3.3% in the 4th quarter. FourThought Financial Partners LLC now owns 1,076 shares of the medical technology company’s stock worth $322,000 after buying an additional 34 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Performance

Stryker stock opened at $327.45 on Thursday. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $361.41. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.71. The stock’s 50 day simple moving average is $338.89 and its two-hundred day simple moving average is $339.52. The stock has a market cap of $124.74 billion, a price-to-earnings ratio of 37.38, a PEG ratio of 2.60 and a beta of 0.89.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. Stryker had a return on equity of 23.26% and a net margin of 16.12%. The company had revenue of $5.42 billion during the quarter, compared to analyst estimates of $5.40 billion. During the same quarter last year, the company earned $2.54 EPS. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, analysts expect that Stryker Co. will post 11.95 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th were paid a $0.80 dividend. The ex-dividend date was Friday, June 28th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.98%. Stryker’s dividend payout ratio is presently 36.53%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SYK. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a report on Thursday, July 11th. Piper Sandler raised their price objective on shares of Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Robert W. Baird boosted their target price on shares of Stryker from $367.00 to $378.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. UBS Group raised their price objective on shares of Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Citigroup boosted their target price on Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and an average target price of $371.74.

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.