Kovack Advisors Inc. Buys Shares of 627 Stryker Co. (NYSE:SYK)

Kovack Advisors Inc. bought a new stake in Stryker Co. (NYSE:SYKFree Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 627 shares of the medical technology company’s stock, valued at approximately $224,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SYK. Vanguard Group Inc. raised its holdings 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 valued at $8,379,967,000 after buying an additional 143,631 shares during the period. Price T Rowe Associates Inc. MD raised its holdings 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 valued at $3,755,782,000 after buying an additional 642,178 shares during the period. Morgan Stanley raised its holdings in shares of 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 buying an additional 223,728 shares during the period. Franklin Resources Inc. raised its holdings in shares of 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 buying an additional 29,209 shares during the period. Finally, Norges Bank purchased a new stake in shares of Stryker in the 4th quarter valued at $1,260,562,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Trading Up 1.6 %

NYSE:SYK opened at $337.25 on Friday. The stock’s 50 day moving average price is $337.38 and its 200 day moving average price is $334.78. The company has a market capitalization of $128.48 billion, a PE ratio of 38.50, a P/E/G ratio of 2.61 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 Co. has a 52-week low of $249.98 and a 52-week high of $361.41.

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

Stryker Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, June 28th. This represents a $3.20 dividend on an annualized basis and a yield of 0.95%. Stryker’s payout ratio is 36.53%.

Wall Street Analyst Weigh In

SYK has been the subject of several analyst reports. Roth Mkm boosted their target price on Stryker from $348.00 to $405.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. UBS Group boosted their target price on Stryker from $339.00 to $351.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Royal Bank of Canada boosted their target price on Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a research note on Monday, April 15th. StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, BTIG Research boosted their target price on Stryker from $366.00 to $369.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $370.32.

Get Our Latest Stock Analysis on Stryker

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.

Further Reading

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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