Algebris UK Ltd Takes $1.20 Million Position in Stryker Co. (NYSE:SYK)

Algebris UK Ltd acquired a new stake in Stryker Co. (NYSE:SYK) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,459 shares of the medical technology company’s stock, valued at approximately $1,203,000.

A number of other hedge funds have also modified their holdings of the company. Parnassus Investments LLC purchased a new position in Stryker during the third quarter valued at approximately $762,798,000. Raymond James Financial Inc. acquired a new position in Stryker during the fourth quarter worth $353,394,000. Proficio Capital Partners LLC boosted its stake in Stryker by 52,520.8% during the fourth quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company’s stock worth $214,660,000 after buying an additional 595,061 shares during the last quarter. RTW Investments LP acquired a new position in Stryker during the third quarter worth $143,392,000. Finally, State Street Corp boosted its stake in Stryker by 2.2% during the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after buying an additional 316,404 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Stryker

In other Stryker news, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the transaction, the director now directly owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction on Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the transaction, the director now directly owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have recently commented on SYK. JPMorgan Chase & Co. upped their price target on Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Truist Financial upped their price target on Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Canaccord Genuity Group increased their price objective on Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Citigroup reiterated a “buy” rating and issued a $450.00 price objective on shares of Stryker in a report on Wednesday, February 26th. Finally, Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $421.90.

Stryker Stock Up 0.7 %

SYK stock opened at $376.13 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The company has a 50-day moving average of $383.71 and a two-hundred day moving average of $373.82. The stock has a market capitalization of $143.52 billion, a price-to-earnings ratio of 48.47, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period in the previous year, the firm earned $3.46 earnings per share. As a group, equities research analysts anticipate that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Monday, March 31st. Stryker’s payout ratio is 43.30%.

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.