Stryker Co. (NYSE:SYK) Shares Acquired by Woodmont Investment Counsel LLC

Woodmont Investment Counsel LLC boosted its position in shares of Stryker Co. (NYSE:SYK) by 9.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,016 shares of the medical technology company’s stock after purchasing an additional 332 shares during the period. Woodmont Investment Counsel LLC’s holdings in Stryker were worth $1,437,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Stryker by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 30,665,520 shares of the medical technology company’s stock worth $8,379,967,000 after buying an additional 143,631 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of 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 during the last quarter. Morgan Stanley lifted 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 valued at $1,452,493,000 after purchasing an additional 223,728 shares during the last quarter. Franklin Resources Inc. lifted its position in Stryker by 0.6% in 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 purchasing an additional 29,209 shares during the last quarter. Finally, Norges Bank bought a new stake in Stryker in the 4th quarter valued at about $1,260,562,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Stock Performance

NYSE:SYK traded down $2.60 during trading hours on Tuesday, hitting $333.90. 411,644 shares of the company traded hands, compared to its average volume of 1,304,259. The stock has a market capitalization of $127.20 billion, a price-to-earnings ratio of 37.90, a P/E/G ratio of 2.68 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 firm has a 50-day moving average of $337.38 and a 200 day moving average of $333.91. 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 (NYSE:SYK) last released its earnings results 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 net margin of 16.03% and a return on equity of 23.05%. The firm had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same period in the prior year, the company earned $2.14 EPS. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. On average, analysts forecast that Stryker Co. will post 11.95 EPS for the current year.

Stryker Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have commented on SYK shares. Evercore ISI lowered their target price on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a research note on Tuesday. Piper Sandler raised their target price on shares of Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. The Goldman Sachs Group started coverage on shares of Stryker in a research note on Thursday, May 30th. They set a “neutral” rating and a $372.00 target price on the stock. Barclays lifted their price objective on shares of Stryker from $372.00 to $376.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Finally, StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, June 25th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $370.32.

Stryker Company 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.