Algebris UK Ltd Makes New Investment in Stryker Co. (NYSE:SYK)

Algebris UK Ltd bought a new stake in shares of Stryker Co. (NYSE:SYK - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,459 shares of the medical technology company's stock, valued at approximately $1,203,000.

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

Stryker Trading Down 0.8 %

Stryker stock traded down $2.84 during trading hours on Friday, reaching $371.38. The company had a trading volume of 2,372,329 shares, compared to its average volume of 1,228,207. 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 50-day moving average price of $384.28 and a 200 day moving average price of $374.12. The firm has a market cap of $141.71 billion, a price-to-earnings ratio of 47.86, a P/E/G ratio of 2.93 and a beta of 0.95. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19.

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Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping analysts' consensus estimates 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 period in the previous year, the company posted $3.46 EPS. Equities analysts forecast that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued 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 0.90%. Stryker's dividend payout ratio is presently 43.30%.

Wall Street Analyst Weigh In

SYK has been the subject of a number of research analyst reports. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research report on Tuesday, February 18th. Barclays lifted their price target on Stryker from $418.00 to $443.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Stifel Nicolaus lifted their price target on Stryker from $400.00 to $440.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. Truist Financial lifted their price target on Stryker from $409.00 to $413.00 and gave the company a "hold" rating in a research report on Thursday, January 30th. Finally, Morgan Stanley upgraded Stryker from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $421.90.

Insider Activity at Stryker

In related news, Director Allan C. Golston sold 2,458 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction of $941,586.06. Following the completion of the transaction, the director now owns 14,895 shares in the company, valued at $5,705,827.65. This 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 is available through this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of the company's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $392.24, for a total value 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. This represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.

Stryker 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.