Grandfield & Dodd LLC Trims Stock Position in Stryker Co. (NYSE:SYK)

Grandfield & Dodd LLC decreased its position in Stryker Co. (NYSE:SYK) by 0.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 99,708 shares of the medical technology company’s stock after selling 812 shares during the period. Stryker accounts for approximately 2.3% of Grandfield & Dodd LLC’s investment portfolio, making the stock its 14th largest position. Grandfield & Dodd LLC’s holdings in Stryker were worth $35,683,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Carnegie Capital Asset Management LLC raised its position in Stryker by 0.5% in the fourth quarter. Carnegie Capital Asset Management LLC now owns 96,241 shares of the medical technology company’s stock valued at $28,820,000 after purchasing an additional 497 shares during the period. Atlantic Edge Private Wealth Management LLC acquired a new position in Stryker in the fourth quarter valued at about $1,561,000. CoreCap Advisors LLC boosted its stake in Stryker by 3.9% during the fourth quarter. CoreCap Advisors LLC now owns 5,030 shares of the medical technology company’s stock worth $1,506,000 after buying an additional 191 shares during the period. Consolidated Planning Corp acquired a new stake in shares of Stryker during the fourth quarter valued at about $205,000. Finally, Meritage Portfolio Management purchased a new stake in shares of Stryker in the 4th quarter valued at approximately $569,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SYK shares. TD Cowen increased their price objective on shares of Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Evercore ISI cut their price objective on Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Citigroup raised their target price on Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Piper Sandler boosted their price target on shares of Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Finally, BTIG Research raised their price objective on shares of Stryker from $366.00 to $369.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $370.32.

Stryker Stock Up 0.2 %

SYK stock traded up $0.75 during trading on Thursday, hitting $338.09. 838,370 shares of the company’s stock were exchanged, compared to its average volume of 1,282,250. The stock has a market capitalization of $128.80 billion, a price-to-earnings ratio of 38.59, a PEG ratio of 2.63 and a beta of 0.89. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $361.41. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. The business has a 50-day moving average price of $337.68 and a two-hundred day moving average price of $335.97.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, topping 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 business had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter in the previous year, the firm earned $2.14 EPS. The company’s revenue was up 9.7% compared to the same quarter last year. As a group, equities research analysts expect 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. Investors of record on Friday, June 28th will be given a $0.80 dividend. The ex-dividend date is Friday, June 28th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.95%. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

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.