O Shaughnessy Asset Management LLC Acquires 3,800 Shares of Stryker Co. (NYSE:SYK)

O Shaughnessy Asset Management LLC increased its holdings in Stryker Co. (NYSE:SYK) by 11.9% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 35,737 shares of the medical technology company’s stock after purchasing an additional 3,800 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Stryker were worth $12,789,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of SYK. Norges Bank bought a new stake in Stryker in the fourth quarter worth $1,260,562,000. Global Assets Advisory LLC bought a new position in Stryker during the first quarter valued at $341,049,000. JPMorgan Chase & Co. increased its position in Stryker by 10.4% during the first quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after acquiring an additional 813,311 shares during the last quarter. Price T Rowe Associates Inc. MD increased 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 acquiring an additional 642,178 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Stryker by 1.0% during the first quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock valued at $11,258,373,000 after acquiring an additional 309,592 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SYK. Citigroup boosted their price objective on shares of Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Piper Sandler boosted their price objective on shares of Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Morgan Stanley boosted their price objective on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research report on Monday, July 15th. Roth Mkm upped their price target on shares of Stryker from $348.00 to $405.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Finally, UBS Group upped their price target on shares of Stryker from $339.00 to $351.00 and gave the stock a “neutral” rating in a report on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Stryker has an average rating of “Moderate Buy” and an average price target of $372.05.

Stryker Stock Down 0.2 %

NYSE:SYK traded down $0.66 during mid-day trading on Tuesday, reaching $341.73. The company’s stock had a trading volume of 1,245,342 shares, compared to its average volume of 1,284,019. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $361.41. The stock has a fifty day moving average of $338.67 and a 200-day moving average of $338.37. The firm has a market capitalization of $130.18 billion, a PE ratio of 39.36, a price-to-earnings-growth ratio of 2.68 and a beta of 0.89. 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 (NYSE:SYK) last released its quarterly 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. The business had revenue of $5.24 billion during the quarter, compared to analyst estimates 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 period in the prior year, the firm posted $2.14 earnings per share. Equities research analysts forecast that Stryker Co. will post 11.95 earnings per share for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Friday, June 28th. Stryker’s payout ratio is 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.