Empowered Funds LLC Has $2.48 Million Position in Stryker Co. (NYSE:SYK)

Empowered Funds LLC lifted its stake in shares of Stryker Co. (NYSE:SYK) by 74.4% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 6,938 shares of the medical technology company’s stock after buying an additional 2,960 shares during the quarter. Empowered Funds LLC’s holdings in Stryker were worth $2,483,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. American Century Companies Inc. raised its stake in Stryker by 0.6% in the 3rd quarter. American Century Companies Inc. now owns 131,618 shares of the medical technology company’s stock worth $35,967,000 after purchasing an additional 835 shares in the last quarter. Capital Investment Advisors LLC bought a new position in Stryker in the 4th quarter valued at about $273,000. Diversified Trust Co increased its holdings in Stryker by 0.6% in the 4th quarter. Diversified Trust Co now owns 10,804 shares of the medical technology company’s stock valued at $3,235,000 after buying an additional 60 shares during the period. Wedmont Private Capital increased its holdings in Stryker by 10.6% in the 4th quarter. Wedmont Private Capital now owns 3,043 shares of the medical technology company’s stock valued at $913,000 after buying an additional 291 shares during the period. Finally, Bath Savings Trust Co increased its holdings in Stryker by 0.5% in the 4th quarter. Bath Savings Trust Co now owns 114,119 shares of the medical technology company’s stock valued at $34,174,000 after buying an additional 589 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on SYK shares. Stifel Nicolaus raised their target price on shares of Stryker from $350.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. TD Cowen lifted their price target on shares of Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Piper Sandler lifted their price target on shares of Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Roth Mkm lifted their price target on shares of Stryker from $348.00 to $405.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, UBS Group lifted their target price on shares of Stryker from $339.00 to $351.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $370.32.

Stryker Stock Up 0.4 %

Stryker stock opened at $339.37 on Monday. 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 Co. has a 12-month low of $249.98 and a 12-month high of $361.41. The firm’s fifty day moving average is $337.90 and its 200 day moving average is $336.78. The company has a market capitalization of $129.28 billion, a PE ratio of 38.74, a PEG ratio of 2.67 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 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 company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter in the previous year, the company earned $2.14 EPS. Stryker’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, sell-side analysts predict that Stryker Co. will post 11.95 EPS for the current fiscal year.

Stryker Announces Dividend

The firm 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 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 yield of 0.94%. Stryker’s dividend payout ratio (DPR) is presently 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.