Townsquare Capital LLC Increases Stock Position in Stryker Corporation (NYSE:SYK)

Key Points

• Townsquare Capital LLC raised its stake in Stryker Corporation by 16.7%, owning 10,085 shares valued at approximately $3.75 million at the end of the last quarter.
• Stryker recently reported $3.13 EPS for the quarter, exceeding analysts' expectations of $3.07, with revenues reaching $6.02 billion, an 11.1% year-over-year increase.
• The company's quarterly dividend of $0.84 will be paid on October 31st, representing a 0.9% dividend yield with a payout ratio of 44.50%.

Townsquare Capital LLC lifted its position in Stryker Corporation (NYSE:SYK - Free Report) by 16.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,085 shares of the medical technology company's stock after purchasing an additional 1,442 shares during the period. Townsquare Capital LLC's holdings in Stryker were worth $3,754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. Zions Bancorporation National Association UT acquired a new position in shares of Stryker in the 1st quarter valued at $6,648,000. Ardent Capital Management Inc. raised its position in Stryker by 1.2% during the first quarter. Ardent Capital Management Inc. now owns 32,194 shares of the medical technology company's stock worth $11,984,000 after acquiring an additional 390 shares during the period. Founders Financial Alliance LLC acquired a new position in Stryker during the first quarter worth $414,000. Truepoint Inc. acquired a new position in Stryker during the first quarter worth $214,000. Finally, Nicholson Wealth Management Group LLC raised its position in Stryker by 1.8% during the first quarter. Nicholson Wealth Management Group LLC now owns 4,584 shares of the medical technology company's stock worth $1,706,000 after acquiring an additional 80 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Trading Down 0.0%

NYSE:SYK traded down $0.17 on Tuesday, hitting $376.50. The stock had a trading volume of 960,134 shares, compared to its average volume of 1,333,667. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The stock has a market cap of $143.94 billion, a price-to-earnings ratio of 49.87, a PEG ratio of 2.74 and a beta of 0.91. The company has a fifty day moving average price of $386.99 and a two-hundred day moving average price of $379.84. Stryker Corporation has a 1-year low of $325.37 and a 1-year high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.07 by $0.06. The company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. Stryker's revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.81 EPS. Equities research analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker's dividend payout ratio (DPR) is 44.50%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on SYK shares. Needham & Company LLC upped their price objective on shares of Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. JMP Securities restated a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Roth Mkm upped their price objective on shares of Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Wells Fargo & Company upped their price objective on shares of Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Evercore ISI upped their target price on shares of Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $430.10.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the completion of the transaction, the director owned 3,222,108 shares of the company's stock, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 5.20% of the stock is currently owned by company insiders.

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.