AlphaCentric Advisors LLC Acquires Shares of 1,719 Stryker Co. (NYSE:SYK)

AlphaCentric Advisors LLC bought a new position in Stryker Co. (NYSE:SYK) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,719 shares of the medical technology company’s stock, valued at approximately $619,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. State Street Corp increased its stake in shares of Stryker by 2.2% in the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after buying an additional 316,404 shares in the last quarter. FMR LLC grew its position in shares of Stryker by 3.0% during the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after buying an additional 215,782 shares during the period. Geode Capital Management LLC lifted its stake in shares of Stryker by 2.5% in the 3rd quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock valued at $2,484,893,000 after purchasing an additional 165,490 shares during the period. Parnassus Investments LLC acquired a new position in Stryker in the third quarter valued at about $762,798,000. Finally, Janus Henderson Group PLC raised its position in shares of Stryker by 1.5% in the 3rd quarter. Janus Henderson Group PLC now owns 1,969,757 shares of the medical technology company’s stock valued at $711,594,000 after acquiring an additional 28,421 shares during the period. Institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the transaction, the director now directly owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.90% of the stock is owned by corporate insiders.

Stryker Stock Down 0.9 %

SYK stock opened at $385.05 on Monday. The stock has a market capitalization of $146.79 billion, a P/E ratio of 49.62, a price-to-earnings-growth ratio of 2.98 and a beta of 0.96. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm has a 50-day moving average price of $377.31 and a 200-day moving average price of $366.92. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same period in the previous year, the business posted $3.46 earnings per share. As a group, equities research analysts anticipate that Stryker Co. will post 13.49 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.84 dividend. The ex-dividend date is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.87%. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SYK shares. Stifel Nicolaus lifted their target price on Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Truist Financial upped their price target on Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. JPMorgan Chase & Co. boosted their price target on shares of Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Royal Bank of Canada boosted their price target on Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Finally, Evercore ISI upped their price target on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus target price of $420.68.

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.