Stryker Co. (NYSE:SYK) Position Reduced by Alhambra Investment Management LLC

Alhambra Investment Management LLC decreased its position in shares of Stryker Co. (NYSE:SYK) by 3.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,934 shares of the medical technology company’s stock after selling 63 shares during the period. Alhambra Investment Management LLC’s holdings in Stryker were worth $720,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in SYK. Norges Bank acquired a new position in Stryker in the fourth quarter worth approximately $1,710,744,000. GAMMA Investing LLC grew its position in Stryker by 43,226.8% in the first quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company’s stock worth $772,390,000 after buying an additional 2,070,133 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Stryker in the fourth quarter worth approximately $353,394,000. FMR LLC grew its position in Stryker by 10.0% during the 4th quarter. FMR LLC now owns 8,034,844 shares of the medical technology company’s stock worth $2,892,946,000 after purchasing an additional 727,850 shares in the last quarter. Finally, Proficio Capital Partners LLC grew its position in Stryker by 52,520.8% during the 4th quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company’s stock worth $214,660,000 after purchasing an additional 595,061 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on SYK shares. Sanford C. Bernstein set a $450.00 price objective on shares of Stryker in a research report on Monday, May 5th. The Goldman Sachs Group set a $422.00 price objective on shares of Stryker in a research report on Tuesday, March 4th. Evercore ISI lowered their price objective on shares of Stryker from $400.00 to $390.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Wall Street Zen cut shares of Stryker from a “buy” rating to a “hold” rating in a research report on Friday, June 6th. Finally, Truist Financial lifted their price objective on shares of Stryker from $390.00 to $400.00 and gave the stock a “hold” rating in a research report on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $427.30.

Stryker Stock Up 0.8%

SYK stock opened at $385.21 on Wednesday. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The company has a fifty day simple moving average of $370.53 and a 200 day simple moving average of $375.91. The firm has a market cap of $147.03 billion, a PE ratio of 49.64, a PEG ratio of 2.93 and a beta of 0.91.

Stryker (NYSE:SYK) last released its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.11. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.68 billion. During the same quarter in the previous year, the business earned $2.50 EPS. Stryker’s quarterly revenue was up 11.9% compared to the same quarter last year. Sell-side analysts anticipate that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, June 30th. Stryker’s payout ratio is presently 45.41%.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the completion of the transaction, the director now owns 3,417,326 shares of the company’s stock, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.90% of the company’s stock.

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.