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

Allspring Global Investments Holdings LLC lessened its stake in shares of Stryker Corporation (NYSE:SYK) by 2.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 43,368 shares of the medical technology company’s stock after selling 1,093 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Stryker were worth $16,189,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Stryker in the 4th quarter worth about $25,000. Capital A Wealth Management LLC bought a new stake in Stryker during the fourth quarter worth about $26,000. Rakuten Securities Inc. grew its stake in Stryker by 618.2% during the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock worth $28,000 after buying an additional 68 shares during the last quarter. City Holding Co. increased its holdings in shares of Stryker by 528.6% during the first quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock worth $33,000 after buying an additional 74 shares in the last quarter. Finally, VSM Wealth Advisory LLC bought a new position in shares of Stryker in the fourth quarter valued at approximately $36,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Wall Street Zen cut Stryker from a “buy” rating to a “hold” rating in a report on Friday, June 27th. Roth Mkm lifted their price target on Stryker from $405.00 to $456.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Evercore ISI reduced their price target on shares of Stryker from $400.00 to $390.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Truist Financial raised their price objective on shares of Stryker from $390.00 to $400.00 and gave the company a “hold” rating in a research report on Monday, May 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $442.00 target price on shares of Stryker in a research note on Friday, March 21st. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $427.30.

Stryker Stock Down 1.2%

Shares of Stryker stock opened at $391.98 on Thursday. The business has a fifty day simple moving average of $381.77 and a 200 day simple moving average of $375.85. The stock has a market cap of $149.61 billion, a PE ratio of 52.97, a price-to-earnings-growth ratio of 2.99 and a beta of 0.91. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. Stryker Corporation has a 12 month low of $314.93 and a 12 month high of $406.19.

Stryker (NYSE:SYK) last posted its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.73 by $0.11. The company 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 for the quarter was up 11.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.50 EPS. Research analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.86%. The ex-dividend date is Monday, June 30th. Stryker’s payout ratio is presently 45.41%.

Insider Buying and Selling at Stryker

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

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.