Allspring Global Investments Holdings LLC Sells 4,457 Shares of Stryker Co. (NYSE:SYK)

Allspring Global Investments Holdings LLC lowered its holdings in shares of Stryker Co. (NYSE:SYK - Free Report) by 9.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,461 shares of the medical technology company's stock after selling 4,457 shares during the period. Allspring Global Investments Holdings LLC's holdings in Stryker were worth $15,949,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Chicago Capital LLC boosted its stake in Stryker by 3.1% during the fourth quarter. Chicago Capital LLC now owns 195,052 shares of the medical technology company's stock worth $70,228,000 after buying an additional 5,841 shares in the last quarter. Zhang Financial LLC boosted its stake in Stryker by 55.0% during the fourth quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company's stock worth $41,366,000 after buying an additional 40,784 shares in the last quarter. Appleton Partners Inc. MA lifted its holdings in shares of 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 acquiring an additional 1,400 shares during the period. Dale Q Rice Investment Management Ltd bought a new position in shares of Stryker during the fourth quarter valued at $587,000. Finally, Berkshire Bank lifted its holdings in shares of Stryker by 13.8% during the fourth quarter. Berkshire Bank now owns 8,489 shares of the medical technology company's stock valued at $3,056,000 after acquiring an additional 1,030 shares during the period. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Trading Down 0.5 %

NYSE:SYK traded down $2.05 on Thursday, hitting $386.47. 930,252 shares of the stock were exchanged, compared to its average volume of 1,392,508. The stock has a market capitalization of $147.47 billion, a price-to-earnings ratio of 49.80, a P/E/G ratio of 2.90 and a beta of 0.96. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The company's 50-day moving average price is $377.69 and its 200 day moving average price is $368.08.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping 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 posted $3.46 earnings per share. On average, equities research analysts forecast that Stryker Co. will post 13.49 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.84 per share. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.87%. Stryker's payout ratio is currently 43.30%.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 201,392 shares of the business's stock in a transaction dated 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 directly owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 completion of the transaction, the director now owns 14,895 shares of the company's stock, valued at $5,705,827.65. This represents a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company's stock.

Analysts Set New Price Targets

SYK has been the subject of a number of analyst reports. Robert W. Baird lifted their price objective on Stryker from $378.00 to $405.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Morgan Stanley raised Stryker from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $370.00 to $445.00 in a report on Monday, December 2nd. JPMorgan Chase & Co. lifted their price objective on Stryker from $420.00 to $445.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. JMP Securities reissued a "market perform" rating on shares of Stryker in a report on Tuesday. Finally, Evercore ISI lifted their price objective on Stryker from $380.00 to $384.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $420.68.

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.