Cornerstone Wealth Group LLC Has $818,000 Stake in Stryker Co. (NYSE:SYK)

Cornerstone Wealth Group LLC boosted its stake in shares of Stryker Co. (NYSE:SYK) by 32.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,287 shares of the medical technology company’s stock after purchasing an additional 554 shares during the quarter. Cornerstone Wealth Group LLC’s holdings in Stryker were worth $818,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Burkett Financial Services LLC bought a new position in Stryker during the fourth quarter worth $25,000. Farmers & Merchants Trust Co of Chambersburg PA boosted its position in Stryker by 203.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 61 shares during the period. Rogco LP bought a new position in Stryker during the fourth quarter worth $30,000. DSM Capital Partners LLC bought a new position in Stryker during the fourth quarter worth $34,000. Finally, HBC Financial Services PLLC bought a new position in Stryker during the fourth quarter worth $37,000. 77.09% of the stock is owned by institutional investors.

Stryker Stock Down 0.1 %

Shares of NYSE SYK opened at $340.25 on Monday. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. The company has a market cap of $129.62 billion, a price-to-earnings ratio of 38.84, a PEG ratio of 2.68 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 stock has a 50-day moving average price of $337.38 and a two-hundred day moving average price of $333.91.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.14. Stryker had a return on equity of 23.05% and a net margin of 16.03%. 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 earnings per share. The firm’s revenue was up 9.7% compared to the same quarter last year. As a group, analysts forecast that Stryker Co. will post 11.95 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company 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 $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Friday, June 28th. Stryker’s dividend payout ratio is currently 36.53%.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. BTIG Research boosted their target price on shares of Stryker from $366.00 to $369.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. TD Cowen boosted their target price on shares of Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Wells Fargo & Company boosted their target price on shares of Stryker from $364.00 to $381.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. UBS Group boosted their target price 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. Finally, Barclays boosted their target price on shares of Stryker from $372.00 to $376.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Four equities research 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $370.58.

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.