Stryker Co. (NYSE:SYK) Stake Lifted by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board increased its stake in shares of Stryker Co. (NYSE:SYK) by 19.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 458,277 shares of the medical technology company’s stock after buying an additional 74,471 shares during the quarter. Canada Pension Plan Investment Board owned about 0.12% of Stryker worth $164,004,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC increased its position in Stryker by 0.4% in the 1st quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock worth $2,499,000 after purchasing an additional 31 shares during the last quarter. Aspen Investment Management Inc increased its position in Stryker by 0.7% in the 1st quarter. Aspen Investment Management Inc now owns 4,368 shares of the medical technology company’s stock worth $1,563,000 after purchasing an additional 31 shares during the last quarter. Proficio Capital Partners LLC increased its position in Stryker by 2.4% in the 1st quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock worth $507,000 after purchasing an additional 33 shares during the last quarter. Consolidated Portfolio Review Corp increased its position in Stryker by 3.6% in the 4th quarter. Consolidated Portfolio Review Corp now owns 983 shares of the medical technology company’s stock worth $294,000 after purchasing an additional 34 shares during the last quarter. Finally, FourThought Financial Partners LLC increased its position in Stryker by 3.3% in the 4th quarter. FourThought Financial Partners LLC now owns 1,076 shares of the medical technology company’s stock worth $322,000 after purchasing an additional 34 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on SYK shares. Wells Fargo & Company increased their price objective on Stryker from $364.00 to $381.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Morgan Stanley increased their price objective on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Stifel Nicolaus increased their price objective on Stryker from $350.00 to $375.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. UBS Group increased their price objective on Stryker from $339.00 to $351.00 and gave the company a “neutral” rating in a report on Wednesday, May 1st. Finally, BTIG Research increased their price objective on Stryker from $369.00 to $372.00 and gave the company a “buy” rating in a report on Monday, July 15th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Stryker presently has an average rating of “Moderate Buy” and an average target price of $372.05.

Stryker Stock Performance

Shares of SYK stock traded up $4.23 during mid-day trading on Friday, reaching $331.67. The stock had a trading volume of 1,679,993 shares, compared to its average volume of 1,084,425. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56. The firm has a market cap of $126.35 billion, a PE ratio of 37.86, a P/E/G ratio of 2.58 and a beta of 0.89. Stryker Co. has a one year low of $249.98 and a one year high of $361.41. The firm’s 50 day simple moving average is $338.99 and its 200 day simple moving average is $338.85.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. The business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. Stryker’s revenue was up 9.7% on a year-over-year basis. During the same quarter last year, the company earned $2.14 EPS. On average, analysts forecast that Stryker Co. will post 11.95 EPS for the current year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors 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 annualized dividend and a dividend yield of 0.96%. Stryker’s dividend payout ratio (DPR) is presently 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.