Algebris UK Ltd Has $1.10 Million Position in Stryker Corporation (NYSE:SYK)

Algebris UK Ltd cut its holdings in shares of Stryker Corporation (NYSE:SYK) by 7.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,194 shares of the medical technology company’s stock after selling 265 shares during the period. Algebris UK Ltd’s holdings in Stryker were worth $1,101,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SYK. Capital A Wealth Management LLC bought a new position in Stryker in the fourth quarter valued at approximately $26,000. Goodman Advisory Group LLC bought a new stake in shares of Stryker in the first quarter worth $32,000. City Holding Co. lifted its position in Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock worth $33,000 after buying an additional 74 shares in the last quarter. Smallwood Wealth Investment Management LLC acquired a new position in shares of Stryker during the 1st quarter worth about $40,000. Finally, Itau Unibanco Holding S.A. bought a new position in shares of Stryker in the 4th quarter valued at about $42,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Price Performance

Stryker stock opened at $400.43 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. The firm has a market cap of $152.84 billion, a PE ratio of 54.11, a price-to-earnings-growth ratio of 2.99 and a beta of 0.91. Stryker Corporation has a 52-week low of $314.93 and a 52-week high of $406.19. The company’s 50 day moving average is $386.49 and its two-hundred day moving average is $379.68.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.73 by $0.11. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. During the same period last year, the company earned $2.50 EPS. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. On average, research analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.84%. Stryker’s payout ratio is currently 45.41%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on SYK shares. Truist Financial raised their target price on shares of Stryker from $390.00 to $400.00 and gave the company a “hold” rating in a research note on Monday, May 5th. Sanford C. Bernstein set a $450.00 target price on Stryker in a report on Monday, May 5th. JMP Securities restated a “market perform” rating on shares of Stryker in a research report on Monday, May 5th. Citigroup reiterated a “buy” rating and issued a $455.00 price objective (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Finally, Wall Street Zen upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research note on Friday, July 18th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, Stryker presently has an average rating of “Moderate Buy” and an average price target of $428.55.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the transaction, the director owned 3,417,326 shares of the company’s stock, valued at $1,288,195,208.96. This represents a 5.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 5.20% of the company’s stock.

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.