Allspring Global Investments Holdings LLC Has $16.19 Million Position in Stryker Corporation (NYSE:SYK)

Allspring Global Investments Holdings LLC lessened its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 43,368 shares of the medical technology company's stock after selling 1,093 shares during the period. Allspring Global Investments Holdings LLC's holdings in Stryker were worth $16,189,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. BSW Wealth Partners raised its position in Stryker by 17.4% during the 1st quarter. BSW Wealth Partners now owns 1,680 shares of the medical technology company's stock worth $625,000 after buying an additional 249 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Stryker by 7.0% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 44,258 shares of the medical technology company's stock worth $16,162,000 after acquiring an additional 2,892 shares during the period. Oakworth Capital Inc. raised its holdings in shares of Stryker by 0.5% during the first quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company's stock worth $2,283,000 after purchasing an additional 29 shares during the last quarter. Achmea Investment Management B.V. boosted its holdings in Stryker by 40.7% in the first quarter. Achmea Investment Management B.V. now owns 49,753 shares of the medical technology company's stock valued at $18,520,000 after purchasing an additional 14,391 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC acquired a new stake in Stryker during the 1st quarter worth about $212,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was 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 owned 3,417,326 shares of the company's stock, valued at approximately $1,288,195,208.96. The trade was a 5.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.90% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on SYK. Citigroup reissued a "buy" rating and issued a $455.00 price objective (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Evercore ISI lowered their price objective on Stryker from $400.00 to $390.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. BTIG Research set a $403.00 price target on shares of Stryker and gave the stock a "buy" rating in a report on Monday, April 14th. Finally, Wall Street Zen cut shares of Stryker from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $427.30.

Stryker Stock Performance

SYK stock traded up $0.19 on Friday, reaching $392.00. The company's stock had a trading volume of 536,295 shares, compared to its average volume of 1,348,236. The company has a market capitalization of $149.62 billion, a P/E ratio of 52.97, a price-to-earnings-growth ratio of 2.98 and a beta of 0.91. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00. Stryker Corporation has a 52 week low of $314.93 and a 52 week high of $406.19. The firm has a fifty day moving average of $382.92 and a two-hundred day moving average of $376.25.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.11. The business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.68 billion. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The company's revenue was up 11.9% compared to the same quarter last year. During the same period last year, the company posted $2.50 EPS. As a group, analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio (DPR) is presently 45.41%.

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.