Allspring Global Investments Holdings LLC Has $5.37 Million Stake in Stryker Corporation $SYK

Allspring Global Investments Holdings LLC decreased its holdings in Stryker Corporation (NYSE:SYK) by 32.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,408 shares of the medical technology company’s stock after selling 7,373 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Stryker were worth $5,365,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of SYK. Czech National Bank raised its position in shares of Stryker by 3.9% in the 4th quarter. Czech National Bank now owns 90,755 shares of the medical technology company’s stock valued at $31,898,000 after buying an additional 3,366 shares in the last quarter. Davis R M Inc. raised its position in shares of Stryker by 1.8% in the 3rd quarter. Davis R M Inc. now owns 138,732 shares of the medical technology company’s stock valued at $51,285,000 after buying an additional 2,512 shares in the last quarter. Terra Alpha Investments LLC acquired a new position in shares of Stryker in the 3rd quarter valued at approximately $1,216,000. Kepler Cheuvreux Suisse SA acquired a new position in shares of Stryker in the 3rd quarter valued at approximately $27,952,000. Finally, Diversified Trust Co raised its position in shares of Stryker by 45.6% in the 3rd quarter. Diversified Trust Co now owns 12,445 shares of the medical technology company’s stock valued at $4,601,000 after buying an additional 3,899 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the sale, the director directly owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. The trade was a 9.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.90% of the stock is owned by insiders.

Stryker Price Performance

SYK stock opened at $332.40 on Tuesday. The company has a 50 day simple moving average of $356.60 and a 200 day simple moving average of $361.44. The stock has a market cap of $127.30 billion, a price-to-earnings ratio of 39.57, a P/E/G ratio of 1.94 and a beta of 0.92. Stryker Corporation has a 1 year low of $319.32 and a 1 year high of $404.87. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21.

Stryker (NYSE:SYK) last posted its earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, topping analysts’ consensus estimates of $4.40 by $0.07. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The firm had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.12 billion. During the same period in the previous year, the firm posted $4.01 EPS. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. Research analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Stryker’s payout ratio is presently 41.90%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SYK. BTIG Research boosted their target price on shares of Stryker from $410.00 to $412.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Jefferies Financial Group reiterated a “buy” rating and set a $465.00 price objective on shares of Stryker in a research report on Wednesday, March 4th. TD Cowen cut shares of Stryker from a “buy” rating to a “hold” rating and set a $387.00 price objective for the company. in a research report on Monday, January 26th. Piper Sandler reiterated an “overweight” rating on shares of Stryker in a research report on Tuesday, January 27th. Finally, Wall Street Zen upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Fourteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $427.50.

Stryker Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.