Allred Capital Management LLC lifted its position in shares of Stryker Co. (NYSE:SYK) by 0.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 35,896 shares of the medical technology company’s stock after acquiring an additional 215 shares during the period. Stryker comprises approximately 4.0% of Allred Capital Management LLC’s holdings, making the stock its 2nd largest holding. Allred Capital Management LLC’s holdings in Stryker were worth $7,006,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the stock. Campbell Capital Management Inc. bought a new position in shares of Stryker in the fourth quarter worth $204,000. British Airways Pensions Investment Management Ltd raised its stake in shares of Stryker by 16.0% during the 4th quarter. British Airways Pensions Investment Management Ltd now owns 122,484 shares of the medical technology company’s stock worth $19,214,000 after purchasing an additional 16,925 shares in the last quarter. Landsberg Bennett & Dubbaneh LLC purchased a new stake in shares of Stryker during the 4th quarter worth about $1,926,000. Addenda Capital Inc. raised its stake in shares of Stryker by 14.9% during the 1st quarter. Addenda Capital Inc. now owns 23,593 shares of the medical technology company’s stock worth $4,671,000 after purchasing an additional 3,060 shares in the last quarter. Finally, Oakworth Capital Inc. raised its stake in shares of Stryker by 4.8% during the 4th quarter. Oakworth Capital Inc. now owns 6,840 shares of the medical technology company’s stock worth $1,073,000 after purchasing an additional 314 shares in the last quarter. 74.61% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE SYK traded down $2.88 during midday trading on Tuesday, hitting $190.54. The stock had a trading volume of 33,598 shares, compared to its average volume of 1,007,749. The stock has a market capitalization of $71.89 billion, a P/E ratio of 26.13, a price-to-earnings-growth ratio of 2.37 and a beta of 0.88. Stryker Co. has a fifty-two week low of $144.75 and a fifty-two week high of $199.85. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.41 and a current ratio of 2.02.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $2.08 annualized dividend and a dividend yield of 1.09%. Stryker’s dividend payout ratio (DPR) is currently 28.45%.
In related news, Chairman Kevin Lobo sold 41,750 shares of Stryker stock in a transaction on Monday, March 25th. The stock was sold at an average price of $194.11, for a total transaction of $8,104,092.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Timothy J. Scannell sold 5,282 shares of Stryker stock in a transaction on Wednesday, January 16th. The stock was sold at an average price of $163.50, for a total value of $863,607.00. The disclosure for this sale can be found here. Insiders sold a total of 131,071 shares of company stock valued at $24,689,161 over the last three months. Insiders own 7.20% of the company’s stock.
A number of research analysts have recently commented on SYK shares. Zacks Investment Research lowered Stryker from a “buy” rating to a “hold” rating in a report on Friday. Wells Fargo & Co increased their price objective on Stryker from $214.00 to $219.00 and gave the company an “outperform” rating in a report on Monday, April 1st. Cantor Fitzgerald reissued a “neutral” rating on shares of Stryker in a report on Friday, January 18th. Royal Bank of Canada increased their price objective on Stryker from $184.00 to $204.00 and gave the company an “outperform” rating in a report on Monday, March 11th. Finally, Barclays set a $203.00 price objective on Stryker and gave the company a “buy” rating in a report on Friday, March 8th. Eight investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $192.13.
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Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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