Alliancebernstein L.P. Has $511.15 Million Holdings in Stryker Corporation $SYK

Key Points

• Alliancebernstein L.P. significantly increased its holdings in Stryker Corporation by 66.7%, now owning 1,373,142 shares valued at approximately $511.15 million.
• During its latest earnings report, Stryker posted $3.13 earnings per share, surpassing analysts' expectations, and achieved a revenue of $6.02 billion for the quarter.
• Stryker recently announced a quarterly dividend of $0.84 per share, reflecting an annualized yield of 0.9% and a payout ratio of 44.50%.

Alliancebernstein L.P. boosted its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 66.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,373,142 shares of the medical technology company's stock after buying an additional 549,643 shares during the period. Alliancebernstein L.P. owned approximately 0.36% of Stryker worth $511,152,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Elefante Mark B acquired a new stake in Stryker during the fourth quarter worth about $337,000. Mogy Joel R Investment Counsel Inc. grew its stake in Stryker by 3.4% during the first quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company's stock worth $36,561,000 after buying an additional 3,218 shares in the last quarter. Ferguson Wellman Capital Management Inc. grew its stake in Stryker by 1.9% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company's stock worth $65,096,000 after buying an additional 3,341 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Stryker during the first quarter worth about $1,840,000. Finally, Mar Vista Investment Partners LLC grew its stake in Stryker by 10.2% during the first quarter. Mar Vista Investment Partners LLC now owns 90,187 shares of the medical technology company's stock worth $33,572,000 after buying an additional 8,353 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Stryker

In other news, insider Viju Menon sold 500 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $390.61, for a total transaction of $195,305.00. Following the completion of the sale, the insider owned 12,511 shares of the company's stock, valued at $4,886,921.71. This trade represents a 3.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the sale, the director directly owned 3,222,108 shares of the company's stock, valued at approximately $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.20% of the company's stock.

Stryker Stock Performance

NYSE:SYK opened at $389.65 on Wednesday. The company has a market capitalization of $148.97 billion, a PE ratio of 51.61, a P/E/G ratio of 2.85 and a beta of 0.93. The company has a 50 day simple moving average of $389.57 and a two-hundred day simple moving average of $379.45. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last released its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating analysts' consensus estimates of $3.07 by $0.06. The business had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The company's revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Research analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker's dividend payout ratio is currently 44.50%.

Analysts Set New Price Targets

SYK has been the subject of a number of research reports. Citigroup reissued a "buy" rating and issued a $455.00 target price (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Evercore ISI increased their target price on shares of Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Wells Fargo & Company raised their price objective on shares of Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Needham & Company LLC raised their price objective on shares of Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, Truist Financial set a $415.00 price objective on shares of Stryker and gave the company a "hold" rating in a report on Monday, August 4th. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, Stryker currently has a consensus rating of "Moderate Buy" and a consensus target price of $430.10.

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.

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