Fred Alger Management LLC Buys 19,356 Shares of Stryker Co. (NYSE:SYK)

Fred Alger Management LLC raised its position in Stryker Co. (NYSE:SYK - Free Report) by 415.8% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 24,011 shares of the medical technology company's stock after acquiring an additional 19,356 shares during the period. Fred Alger Management LLC's holdings in Stryker were worth $8,664,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in Stryker by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company's stock valued at $11,773,213,000 after buying an additional 252,188 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in shares of Stryker by 0.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,109,722 shares of the medical technology company's stock valued at $4,000,056,000 after buying an additional 54,693 shares during the period. FMR LLC raised its stake in shares of Stryker by 10.0% in the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock valued at $2,892,946,000 after buying an additional 727,850 shares during the period. Geode Capital Management LLC raised its stake in shares of Stryker by 2.4% in the fourth quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company's stock valued at $2,539,033,000 after buying an additional 168,436 shares during the period. Finally, Norges Bank bought a new stake in shares of Stryker in the fourth quarter valued at $1,710,744,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Price Performance

NYSE SYK traded down $1.59 during trading on Friday, reaching $380.87. The company's stock had a trading volume of 758,784 shares, compared to its average volume of 1,356,009. The stock has a market capitalization of $145.37 billion, a PE ratio of 49.08, a P/E/G ratio of 2.93 and a beta of 0.93. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The firm has a fifty day moving average of $365.47 and a 200 day moving average of $374.48. Stryker Co. has a one year low of $314.93 and a one year high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.11. The firm had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.68 billion. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The business's quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the company posted $2.50 EPS. Analysts expect that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.88%. Stryker's dividend payout ratio (DPR) is presently 45.41%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. 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. JPMorgan Chase & Co. raised their price objective on shares of Stryker from $420.00 to $445.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. Citigroup reaffirmed a "buy" rating and issued a $450.00 price objective on shares of Stryker in a report on Wednesday, February 26th. Argus set a $450.00 price objective on Stryker in a research note on Monday, February 3rd. Finally, Sanford C. Bernstein set a $450.00 price objective on Stryker in a research note on Monday, May 5th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Stryker currently has an average rating of "Moderate Buy" and a consensus price target of $427.05.

Insider Activity

In other news, Director Allan C. Golston sold 2,458 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction of $941,586.06. Following the transaction, the director now directly owns 14,895 shares in the company, valued at approximately $5,705,827.65. This represents a 14.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value of $75,392,000.00. Following the transaction, the director now owns 3,417,326 shares in the company, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company's stock.

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.