Stryker Co. (NYSE:SYK) Shares Sold by Algebris UK Ltd

Algebris UK Ltd lessened its stake in shares of Stryker Co. (NYSE:SYK) by 7.9% in the first quarter, according to its most recent filing with the SEC. The fund owned 2,036 shares of the medical technology company’s stock after selling 175 shares during the period. Stryker comprises about 0.2% of Algebris UK Ltd’s portfolio, making the stock its 29th largest holding. Algebris UK Ltd’s holdings in Stryker were worth $583,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vinva Investment Management Ltd acquired a new stake in shares of Stryker during the 1st quarter valued at $3,257,000. Coastal Investment Advisors Inc. acquired a new stake in shares of Stryker during the 4th quarter valued at $271,000. Maryland State Retirement & Pension System lifted its position in shares of Stryker by 0.6% during the 1st quarter. Maryland State Retirement & Pension System now owns 27,814 shares of the medical technology company’s stock valued at $7,940,000 after acquiring an additional 164 shares during the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its position in shares of Stryker by 28.6% during the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 4,451 shares of the medical technology company’s stock valued at $1,271,000 after acquiring an additional 990 shares during the last quarter. Finally, BOKF NA lifted its position in shares of Stryker by 27.5% during the 1st quarter. BOKF NA now owns 28,266 shares of the medical technology company’s stock valued at $8,069,000 after acquiring an additional 6,104 shares during the last quarter. Institutional investors and hedge funds own 76.24% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SYK. StockNews.com began coverage on Stryker in a research report on Thursday, August 17th. They issued a “buy” rating for the company. Truist Financial increased their price objective on Stryker from $300.00 to $310.00 in a research note on Wednesday, July 19th. Robert W. Baird increased their price objective on Stryker from $287.00 to $315.00 in a research note on Tuesday, May 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $325.00 price objective on shares of Stryker in a research note on Thursday, August 17th. Finally, Piper Sandler increased their price objective on Stryker from $280.00 to $310.00 in a research note on Tuesday, May 2nd. Five analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $309.33.

Insider Buying and Selling at Stryker

In other Stryker news, Director Srikant M. Datar sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, June 1st. The stock was sold at an average price of $278.50, for a total value of $139,250.00. Following the sale, the director now owns 5,467 shares of the company’s stock, valued at approximately $1,522,559.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.90% of the company’s stock.

Stryker Stock Up 1.2 %

Shares of NYSE SYK traded up $3.36 during mid-day trading on Wednesday, reaching $288.38. 590,979 shares of the company traded hands, compared to its average volume of 1,295,855. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.84 and a current ratio of 1.54. The stock has a market cap of $109.52 billion, a PE ratio of 40.71, a price-to-earnings-growth ratio of 2.71 and a beta of 0.96. The company’s fifty day moving average is $289.01 and its two-hundred day moving average is $283.42. Stryker Co. has a fifty-two week low of $200.80 and a fifty-two week high of $306.93.

Stryker (NYSE:SYK) last issued its quarterly earnings data 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 business had revenue of $5 billion for the quarter, compared to analyst estimates of $4.83 billion. Stryker had a return on equity of 22.31% and a net margin of 13.92%. The firm’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.25 EPS. On average, analysts expect that Stryker Co. will post 10.37 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Thursday, September 28th. Stryker’s dividend payout ratio (DPR) is currently 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.