Grant Street Asset Management Inc. Takes $208,000 Position in Stryker Co. (NYSE:SYK)

Grant Street Asset Management Inc. acquired a new position in shares of Stryker Co. (NYSE:SYK) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 730 shares of the medical technology company’s stock, valued at approximately $208,000.

Several other hedge funds also recently modified their holdings of the company. Freedom Wealth Alliance LLC acquired a new stake in Stryker in the fourth quarter valued at $26,000. Quarry LP acquired a new position in Stryker during the 1st quarter worth approximately $27,000. Elequin Securities LLC acquired a new position in shares of Stryker during the fourth quarter worth approximately $29,000. ST Germain D J Co. Inc. lifted its stake in shares of Stryker by 6.6% in the fourth quarter. ST Germain D J Co. Inc. now owns 2,065 shares of the medical technology company’s stock valued at $32,000 after buying an additional 127 shares in the last quarter. Finally, Altshuler Shaham Ltd bought a new position in Stryker in the 1st quarter valued at about $33,000. Institutional investors and hedge funds own 76.24% of the company’s stock.

Stryker Price Performance

NYSE SYK opened at $299.72 on Tuesday. The company has a quick ratio of 0.84, a current ratio of 1.54 and a debt-to-equity ratio of 0.64. The company has a market cap of $113.83 billion, a PE ratio of 42.33, a price-to-earnings-growth ratio of 2.79 and a beta of 0.95. Stryker Co. has a 52 week low of $200.80 and a 52 week high of $306.93. The firm’s 50-day simple moving average is $287.00 and its two-hundred day simple moving average is $284.98.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, August 3rd. The medical technology company reported $2.54 EPS for the quarter, beating analysts’ consensus estimates of $2.38 by $0.16. The company had revenue of $5 billion for the quarter, compared to analysts’ expectations of $4.83 billion. Stryker had a net margin of 13.92% and a return on equity of 22.31%. Stryker’s revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the company posted $2.25 EPS. Research analysts predict that Stryker Co. will post 10.37 earnings per share for the current year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend is Thursday, September 28th. Stryker’s dividend payout ratio (DPR) is presently 42.37%.

Insider Activity at Stryker

In other Stryker news, insider Viju Menon sold 5,000 shares of the firm’s 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 transaction, the insider now owns 6,994 shares in the company, valued at approximately $2,021,266. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and set a $325.00 price objective on shares of Stryker in a report on Thursday, August 17th. Morgan Stanley boosted their price target on shares of Stryker from $295.00 to $300.00 and gave the stock an “equal weight” rating in a report on Monday, August 7th. Bank of America upgraded shares of Stryker from a “neutral” rating to a “buy” rating and increased their price objective for the company from $310.00 to $315.00 in a research note on Tuesday, September 5th. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research note on Friday. Finally, BTIG Research increased their price target on Stryker from $313.00 to $331.00 in a research report on Monday, July 17th. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $309.59.

Stryker 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 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.