Stryker Co. (NYSE:SYK) is Bayesian Capital Management LP’s 9th Largest Position

Bayesian Capital Management LP raised its position in shares of Stryker Co. (NYSE:SYK) by 334.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,508 shares of the medical technology company’s stock after buying an additional 18,100 shares during the quarter. Stryker accounts for 0.8% of Bayesian Capital Management LP’s portfolio, making the stock its 9th largest position. Bayesian Capital Management LP’s holdings in Stryker were worth $6,711,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. BlackRock Inc. lifted its position in shares of Stryker by 0.7% in the first quarter. BlackRock Inc. now owns 24,673,528 shares of the medical technology company’s stock worth $7,043,552,000 after purchasing an additional 178,460 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of Stryker by 1.5% in the first quarter. Bank of New York Mellon Corp now owns 6,683,415 shares of the medical technology company’s stock worth $1,907,914,000 after purchasing an additional 98,909 shares in the last quarter. FMR LLC lifted its position in shares of Stryker by 50.5% in the first quarter. FMR LLC now owns 6,012,525 shares of the medical technology company’s stock worth $1,716,396,000 after purchasing an additional 2,017,006 shares in the last quarter. Morgan Stanley lifted its position in shares of Stryker by 21.7% in the fourth quarter. Morgan Stanley now owns 5,978,782 shares of the medical technology company’s stock worth $1,461,753,000 after purchasing an additional 1,066,751 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of Stryker by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 5,836,252 shares of the medical technology company’s stock worth $1,423,841,000 after purchasing an additional 140,273 shares in the last quarter. 76.24% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on SYK. Royal Bank of Canada reiterated an “outperform” rating and set a $325.00 price target on shares of Stryker in a report on Thursday, August 17th. Truist Financial increased their price target on Stryker from $300.00 to $310.00 in a report on Wednesday, July 19th. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a report on Friday. Argus increased their price target on Stryker from $285.00 to $310.00 in a report on Thursday, May 25th. Finally, Bank of America upgraded Stryker from a “neutral” rating to a “buy” rating and increased their price target for the company from $310.00 to $315.00 in a report on Tuesday, September 5th. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and a consensus price target of $309.59.

Insider Buying and Selling

In related news, insider Viju Menon sold 5,000 shares of Stryker stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $289.00, for a total value of $1,445,000.00. Following the completion of the sale, the insider now directly owns 6,994 shares in the company, valued at $2,021,266. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 5.90% of the company’s stock.

Stryker Price Performance

Shares of NYSE SYK traded up $10.60 during midday trading on Monday, reaching $300.14. 749,917 shares of the company traded hands, compared to its average volume of 1,288,416. The firm has a market cap of $113.99 billion, a PE ratio of 40.90, a PEG ratio of 2.79 and a beta of 0.95. The stock’s 50-day simple moving average is $286.97 and its 200-day simple moving average is $284.72. Stryker Co. has a 12 month low of $200.80 and a 12 month high of $306.93. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.84 and a current ratio of 1.54.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, August 3rd. The medical technology company reported $2.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.38 by $0.16. The company had revenue of $5 billion during the quarter, compared to analysts’ expectations of $4.83 billion. Stryker had a return on equity of 22.31% and a net margin of 13.92%. The business’s revenue was up 11.2% on a year-over-year basis. During the same period last year, the business earned $2.25 earnings per share. As a group, equities analysts anticipate that Stryker Co. will post 10.37 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be given a $0.75 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $3.00 dividend on an annualized basis and a yield of 1.00%. Stryker’s payout ratio is 42.37%.

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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.