Allstate Corp Takes Position in Stryker Co. (NYSE:SYK)

Allstate Corp bought a new stake in Stryker Co. (NYSE:SYK - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 10,250 shares of the medical technology company's stock, valued at approximately $3,691,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Kohmann Bosshard Financial Services LLC acquired a new position in Stryker during the fourth quarter valued at approximately $25,000. Dunhill Financial LLC grew its position in shares of Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company's stock valued at $27,000 after purchasing an additional 37 shares during the period. Rakuten Securities Inc. increased its stake in Stryker by 618.2% during the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock worth $28,000 after purchasing an additional 68 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in Stryker during the 4th quarter worth approximately $30,000. Finally, BankPlus Trust Department bought a new position in Stryker in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Stock Performance

Stryker stock traded up $0.95 during midday trading on Tuesday, hitting $373.20. The company's stock had a trading volume of 1,180,869 shares, compared to its average volume of 1,291,544. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The company has a market cap of $142.45 billion, a price-to-earnings ratio of 48.09, a PEG ratio of 2.93 and a beta of 0.95. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19. The company has a 50-day moving average price of $383.86 and a two-hundred day moving average price of $374.41.

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Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating analysts' consensus estimates 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 prior year, the business earned $3.46 earnings per share. As a group, sell-side analysts predict that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The company also recently disclosed 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 yield of 0.90%. Stryker's payout ratio is 43.30%.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 201,392 shares of the firm's stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the sale, the director now directly owns 3,642,075 shares of the company's stock, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Allan C. Golston sold 2,458 shares of the business's stock in a transaction dated Tuesday, February 18th. The stock was 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. The trade was a 14.16 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a research report on Tuesday, February 18th. The Goldman Sachs Group set a $422.00 price objective on shares of Stryker in a research report on Tuesday, March 4th. Needham & Company LLC restated a "buy" rating and set a $442.00 price objective on shares of Stryker in a research note on Friday, March 21st. Stifel Nicolaus lifted their target price on Stryker from $400.00 to $440.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. Finally, 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. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus 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.