616 Shares in Stryker Co. (NYSE:SYK) Purchased by New Century Financial Group LLC

New Century Financial Group LLC acquired a new stake in Stryker Co. (NYSE:SYK) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 616 shares of the medical technology company’s stock, valued at approximately $220,000.

Several other hedge funds have also recently added to or reduced their stakes in SYK. Quadrature Capital Ltd purchased a new stake in Stryker in the 3rd quarter valued at approximately $1,467,000. Axxcess Wealth Management LLC purchased a new stake in shares of Stryker in the third quarter valued at $340,000. Ameriprise Financial Inc. boosted its stake in shares of Stryker by 14.4% during the third quarter. Ameriprise Financial Inc. now owns 1,547,683 shares of the medical technology company’s stock valued at $422,099,000 after acquiring an additional 194,715 shares during the last quarter. Alps Advisors Inc. purchased a new stake in Stryker during the 3rd quarter worth about $3,501,000. Finally, KPP Advisory Services LLC acquired a new position in Stryker in the 3rd quarter valued at about $216,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on SYK shares. StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a report on Wednesday. Royal Bank of Canada raised their target price on shares of Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Piper Sandler boosted their price target on Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Wells Fargo & Company raised their price objective on Stryker from $364.00 to $381.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Finally, Evercore ISI lowered their price objective on Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a research report on Tuesday. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $370.32.

Stryker Stock Performance

Shares of SYK stock opened at $332.02 on Friday. The company’s fifty day simple moving average is $337.35 and its 200-day simple moving average is $334.46. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $361.41. The company has a market cap of $126.48 billion, a PE ratio of 37.90, a P/E/G ratio of 2.61 and a beta of 0.89.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 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 for the quarter, compared to analyst estimates of $5.10 billion. During the same period last year, the company posted $2.14 earnings per share. The firm’s revenue was up 9.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Stryker Co. will post 11.95 EPS for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.96%. Stryker’s payout ratio is currently 36.53%.

About Stryker

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.