Alps Advisors Inc. Sells 888 Shares of Stryker Corporation (NYSE:SYK)

Alps Advisors Inc. reduced its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 11.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,667 shares of the medical technology company's stock after selling 888 shares during the period. Alps Advisors Inc.'s holdings in Stryker were worth $2,482,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Elefante Mark B bought a new stake in shares of Stryker in the 4th quarter valued at approximately $337,000. Mogy Joel R Investment Counsel Inc. increased its position in shares of Stryker by 3.4% during the 1st quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company's stock valued at $36,561,000 after purchasing an additional 3,218 shares during the last quarter. Ferguson Wellman Capital Management Inc. raised its holdings in Stryker by 1.9% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company's stock valued at $65,096,000 after buying an additional 3,341 shares during the period. Harbor Capital Advisors Inc. bought a new stake in Stryker in the first quarter worth $1,840,000. Finally, Fred Alger Management LLC boosted its stake in Stryker by 415.8% during the fourth quarter. Fred Alger Management LLC now owns 24,011 shares of the medical technology company's stock worth $8,664,000 after buying an additional 19,356 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Down 1.4%

Shares of NYSE SYK opened at $389.24 on Friday. Stryker Corporation has a 12-month low of $314.93 and a 12-month high of $406.19. The stock's fifty day simple moving average is $384.79 and its two-hundred day simple moving average is $377.14. The stock has a market capitalization of $148.57 billion, a PE ratio of 52.60, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results 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 return on equity of 23.74% and a net margin of 12.31%. The company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. During the same quarter in the previous year, the firm earned $2.50 earnings per share. The firm's quarterly revenue was up 11.9% compared to the same quarter last year. As a group, analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given 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 payout ratio is presently 45.41%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC restated a "buy" rating and issued a $442.00 target price on shares of Stryker in a report on Friday, March 21st. Sanford C. Bernstein set a $450.00 price objective on shares of Stryker in a research note on Monday, May 5th. BTIG Research set a $403.00 target price on Stryker and gave the company a "buy" rating in a research note on Monday, April 14th. Evercore ISI increased their price target on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Finally, Truist Financial boosted their price objective on Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a report on Monday, May 5th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $428.55.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction on 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 transaction, the director directly owned 3,417,326 shares in the company, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.90% of the company's stock.

Stryker 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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