Algebris UK Ltd Acquires Shares of 3,459 Stryker Co. (NYSE:SYK)

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

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC bought a new position in shares of Stryker during the fourth quarter worth about $25,000. Dunhill Financial LLC raised its stake in Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 37 shares during the period. Rakuten Securities Inc. raised its stake in Stryker by 618.2% during the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock worth $28,000 after acquiring an additional 68 shares during the period. Centricity Wealth Management LLC acquired a new stake in Stryker during the fourth quarter worth about $30,000. Finally, BankPlus Trust Department acquired a new stake in shares of Stryker in the fourth quarter valued at approximately $33,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Ronda E. Stryker sold 201,392 shares of the business’s stock in a transaction that occurred 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 owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the business’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 in the company, valued at approximately $5,705,827.65. This represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Stryker Stock Up 0.7 %

Shares of Stryker stock opened at $376.13 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The stock has a market capitalization of $143.52 billion, a price-to-earnings ratio of 48.47, a P/E/G ratio of 2.93 and a beta of 0.95. The company’s 50 day moving average price is $383.71 and its 200-day moving average price is $373.82.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter last year, the company earned $3.46 earnings per share. Equities research analysts forecast that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on SYK shares. Argus set a $450.00 price objective on shares of Stryker in a report on Monday, February 3rd. JMP Securities restated a “market perform” rating on shares of Stryker in a report on Tuesday, February 18th. Truist Financial raised their price target on shares of Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a report on Thursday, January 30th. JPMorgan Chase & Co. lifted their target price on shares of Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Finally, Citigroup reiterated a “buy” rating and issued a $450.00 target price on shares of Stryker in a report on Wednesday, February 26th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and a consensus price target of $421.90.

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.