Aviance Capital Partners LLC Raises Position in Stryker Co. (NYSE:SYK)

Aviance Capital Partners LLC lifted its stake in shares of Stryker Co. (NYSE:SYK) by 30.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,680 shares of the medical technology company’s stock after acquiring an additional 630 shares during the quarter. Aviance Capital Partners LLC’s holdings in Stryker were worth $959,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Burkett Financial Services LLC purchased a new position in shares of Stryker in the 4th quarter valued at about $25,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its stake in Stryker by 203.3% in 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 acquiring an additional 61 shares during the last quarter. Rogco LP acquired a new position in Stryker during the 4th quarter worth approximately $30,000. DSM Capital Partners LLC purchased a new stake in shares of Stryker in the 4th quarter valued at approximately $34,000. Finally, HBC Financial Services PLLC acquired a new stake in shares of Stryker in the 4th quarter valued at $37,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Price Performance

Shares of NYSE SYK opened at $336.50 on Tuesday. The stock has a fifty day moving average price of $337.38 and a 200 day moving average price of $333.91. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $361.41. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.99. The company has a market cap of $128.19 billion, a PE ratio of 38.41, a P/E/G ratio of 2.68 and a beta of 0.89.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 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 company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same quarter last year, the business earned $2.14 EPS. The business’s revenue was up 9.7% on a year-over-year basis. Sell-side analysts forecast 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. Shareholders of record on Friday, June 28th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.95%. The ex-dividend date is Friday, June 28th. Stryker’s payout ratio is 36.53%.

Wall Street Analyst Weigh In

Several research firms recently commented on SYK. Wells Fargo & Company increased their target price on Stryker from $364.00 to $381.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Citigroup raised 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. Stifel Nicolaus upped their price target on Stryker from $350.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Royal Bank of Canada raised their price objective on shares of Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a report on Monday, April 15th. Finally, Barclays upped their target price on shares of Stryker from $372.00 to $376.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average 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.