Alliancebernstein L.P. Lowers Stake in Stryker Co. (NYSE:SYK)

Alliancebernstein L.P. decreased its holdings in shares of Stryker Co. (NYSE:SYK - Free Report) by 14.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 823,499 shares of the medical technology company's stock after selling 134,428 shares during the period. Alliancebernstein L.P. owned approximately 0.22% of Stryker worth $296,501,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in SYK. Chicago Capital LLC raised its stake in Stryker by 3.1% in the fourth quarter. Chicago Capital LLC now owns 195,052 shares of the medical technology company's stock valued at $70,228,000 after purchasing an additional 5,841 shares in the last quarter. Zhang Financial LLC increased its stake in Stryker by 55.0% in the fourth quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company's stock valued at $41,366,000 after acquiring an additional 40,784 shares during the last quarter. Appleton Partners Inc. MA raised its position in Stryker by 5.0% during the fourth quarter. Appleton Partners Inc. MA now owns 29,222 shares of the medical technology company's stock valued at $10,521,000 after purchasing an additional 1,400 shares in the last quarter. Metis Global Partners LLC lifted its stake in Stryker by 10.2% during the fourth quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company's stock worth $6,064,000 after purchasing an additional 1,561 shares during the last quarter. Finally, US Bancorp DE raised its holdings in shares of Stryker by 0.5% during the 4th quarter. US Bancorp DE now owns 182,825 shares of the medical technology company's stock valued at $65,829,000 after buying an additional 976 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

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Stryker Stock Up 1.2 %

Stryker stock traded up $4.52 during trading hours on Wednesday, hitting $377.82. The stock had a trading volume of 1,801,657 shares, compared to its average volume of 1,296,866. The stock's 50-day moving average price is $383.16 and its 200-day moving average price is $374.45. The stock has a market capitalization of $144.21 billion, a P/E ratio of 48.69, a price-to-earnings-growth 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. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (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 period in the previous year, the firm posted $3.46 EPS. Equities research analysts anticipate that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date is Monday, March 31st. Stryker's dividend payout ratio (DPR) is presently 43.30%.

Analysts Set New Price Targets

SYK has been the topic of several research reports. Stifel Nicolaus lifted their price target on shares of Stryker from $400.00 to $440.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. The Goldman Sachs Group set a $422.00 price objective on Stryker in a research note on Tuesday, March 4th. Truist Financial boosted their target price on Stryker from $409.00 to $413.00 and gave the company a "hold" rating in a research note on Thursday, January 30th. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research report on Tuesday, February 18th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $442.00 price target on shares of Stryker in a report on Friday, March 21st. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $421.90.

Insider Buying and Selling at Stryker

In other Stryker news, Director Allan C. Golston sold 2,458 shares of the company'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 transaction of $941,586.06. Following the completion of the sale, the director now directly owns 14,895 shares of the company's stock, valued at approximately $5,705,827.65. This represents a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of the 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 completion of the transaction, the director now owns 3,642,075 shares in the company, valued at $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.50% 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.