Alliancebernstein L.P. Cuts Stock Position in Stryker Co. (NYSE:SYK)

Alliancebernstein L.P. lessened its stake in Stryker Co. (NYSE:SYK) by 14.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 823,499 shares of the medical technology company’s stock after selling 134,428 shares during the quarter. Alliancebernstein L.P. owned approximately 0.22% of Stryker worth $296,501,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC purchased a new position in Stryker in the 4th quarter valued at $25,000. Dunhill Financial LLC grew its stake 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 acquiring an additional 37 shares in the last quarter. Rakuten Securities Inc. raised its holdings in Stryker by 618.2% in the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock valued at $28,000 after acquiring an additional 68 shares during the last quarter. Centricity Wealth Management LLC acquired a new position in shares of Stryker during the 4th quarter worth approximately $30,000. Finally, BankPlus Trust Department purchased 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 Buying and Selling at Stryker

In related news, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction 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 sale, the director now directly owns 14,895 shares in the company, valued at $5,705,827.65. This trade represents a 14.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of Stryker 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 owns 3,642,075 shares in the company, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Stryker Price Performance

Stryker stock opened at $372.73 on Tuesday. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The company’s 50 day moving average is $383.86 and its two-hundred day moving average is $374.41. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The firm has a market cap of $142.27 billion, a PE ratio of 48.03, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 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 in the previous year, the business posted $3.46 earnings per share. On average, research analysts expect that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The company 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 $0.84 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.90%. Stryker’s dividend payout ratio (DPR) is 43.30%.

Analyst Upgrades and Downgrades

SYK has been the topic of a number of analyst reports. Truist Financial lifted their price objective on Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Royal Bank of Canada upped their price objective on shares of Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a research note on Tuesday, February 18th. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $370.00 to $445.00 in a report on Monday, December 2nd. Finally, JPMorgan Chase & Co. increased their price objective on Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $421.90.

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.