NBC Securities Inc. Buys 8,099 Shares of Stryker Co. (NYSE:SYK)

NBC Securities Inc. boosted its position in Stryker Co. (NYSE:SYKFree Report) by 420.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,024 shares of the medical technology company’s stock after acquiring an additional 8,099 shares during the quarter. NBC Securities Inc.’s holdings in Stryker were worth $3,587,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in SYK. Norges Bank purchased a new stake in Stryker during the fourth quarter valued at about $1,260,562,000. Magellan Asset Management Ltd raised its position in Stryker by 74,911.8% during the third quarter. Magellan Asset Management Ltd now owns 680,357 shares of the medical technology company’s stock valued at $185,921,000 after purchasing an additional 679,450 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in Stryker by 5.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after purchasing an additional 642,178 shares in the last quarter. Confluence Investment Management LLC purchased a new stake in Stryker during the first quarter valued at about $93,369,000. Finally, Morgan Stanley raised its position in Stryker by 4.4% during the third quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock valued at $1,452,493,000 after purchasing an additional 223,728 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Up 1.2 %

Shares of SYK traded up $3.97 on Wednesday, reaching $348.67. The stock had a trading volume of 839,609 shares, compared to its average volume of 1,184,369. The firm has a market capitalization of $132.83 billion, a price-to-earnings ratio of 39.80, a price-to-earnings-growth ratio of 2.71 and a beta of 0.92. The company has a 50-day simple moving average of $336.74 and a 200-day simple moving average of $331.10. Stryker Co. has a 12-month low of $249.98 and a 12-month 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.

Stryker (NYSE:SYKGet Free Report) last announced its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The company’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.14 EPS. Sell-side analysts predict 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 paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Friday, June 28th. Stryker’s dividend payout ratio is 36.53%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Needham & Company LLC upgraded Stryker from a “hold” rating to a “buy” rating and set a $392.00 price target on the stock in a research report on Wednesday, May 22nd. BTIG Research increased their target price on Stryker from $366.00 to $369.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. The Goldman Sachs Group initiated coverage on Stryker in a research report on Thursday, May 30th. They set a “neutral” rating and a $372.00 price target on the stock. Citigroup boosted their price objective on Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Finally, Royal Bank of Canada lifted their target price on shares of Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $370.58.

Get Our Latest Report on SYK

Stryker Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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