Monument Capital Management Takes $234,000 Position in Stryker Co. (NYSE:SYK)

Monument Capital Management bought a new position in Stryker Co. (NYSE:SYK) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 654 shares of the medical technology company’s stock, valued at approximately $234,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Carnegie Capital Asset Management LLC grew its holdings in shares of Stryker by 0.5% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 96,241 shares of the medical technology company’s stock worth $28,820,000 after acquiring an additional 497 shares during the period. Atlantic Edge Private Wealth Management LLC purchased a new position in Stryker in the fourth quarter worth about $1,561,000. CoreCap Advisors LLC grew its stake in shares of Stryker by 3.9% during the 4th quarter. CoreCap Advisors LLC now owns 5,030 shares of the medical technology company’s stock valued at $1,506,000 after purchasing an additional 191 shares during the period. Consolidated Planning Corp purchased a new stake in shares of Stryker during the 4th quarter valued at about $205,000. Finally, Meritage Portfolio Management bought a new position in shares of Stryker in the 4th quarter worth approximately $569,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the subject of several recent research reports. 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 research report on Wednesday, May 1st. Barclays boosted their price objective 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. Evercore ISI decreased their target price on Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a report on Tuesday. TD Cowen boosted their price target on Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Finally, BTIG Research lifted their price objective on Stryker from $366.00 to $369.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $370.32.

Stryker Stock Performance

Shares of NYSE SYK opened at $332.07 on Thursday. The company has a market cap of $126.50 billion, a P/E ratio of 37.91, a P/E/G ratio of 2.63 and a beta of 0.89. Stryker Co. has a 52-week low of $249.98 and a 52-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 firm’s fifty day moving average is $337.55 and its two-hundred day moving average is $334.50.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.14 earnings per share. As a group, analysts anticipate that Stryker Co. will post 11.95 EPS for the current fiscal year.

Stryker Dividend Announcement

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 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 0.96%. Stryker’s dividend payout ratio (DPR) 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.