Norden Group LLC Acquires Shares of 11,256 Stryker Co. (NYSE:SYK)

Norden Group LLC bought a new position in Stryker Co. (NYSE:SYK) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 11,256 shares of the medical technology company’s stock, valued at approximately $4,027,000.

A number of other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in Stryker by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 30,665,520 shares of the medical technology company’s stock valued at $8,379,967,000 after purchasing an additional 143,631 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings 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 worth $3,755,782,000 after buying an additional 642,178 shares in the last quarter. Morgan Stanley raised its position in Stryker by 4.4% in the 3rd quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock worth $1,452,493,000 after buying an additional 223,728 shares during the last quarter. Franklin Resources Inc. lifted its stake in Stryker by 0.6% during the 4th quarter. Franklin Resources Inc. now owns 4,686,440 shares of the medical technology company’s stock valued at $1,403,401,000 after acquiring an additional 29,209 shares during the period. Finally, Norges Bank bought a new position in Stryker during the 4th quarter valued at about $1,260,562,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Needham & Company LLC raised shares of Stryker from a “hold” rating to a “buy” rating and set a $392.00 price objective for the company in a report on Wednesday, May 22nd. BTIG Research increased their price target on Stryker from $366.00 to $369.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Roth Mkm lifted their price objective on Stryker from $348.00 to $405.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. TD Cowen raised their target price on Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Finally, The Goldman Sachs Group initiated coverage on shares of Stryker in a research note on Thursday, May 30th. They issued a “neutral” rating and a $372.00 price objective on the stock. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $370.32.

Stryker Stock Performance

NYSE SYK opened at $332.07 on Thursday. The business has a 50-day moving average price of $337.55 and a 200-day moving average price of $334.50. The firm has a market cap of $126.50 billion, a price-to-earnings ratio of 37.91, a price-to-earnings-growth ratio of 2.63 and a beta of 0.89. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56.

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

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.96%. The ex-dividend date is Friday, June 28th. Stryker’s payout ratio is currently 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.