Alerus Financial NA Sells 6,004 Shares of Stryker Co. (NYSE:SYK)

Alerus Financial NA cut its holdings in shares of Stryker Co. (NYSE:SYKGet Rating) by 34.1% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,604 shares of the medical technology company’s stock after selling 6,004 shares during the period. Alerus Financial NA’s holdings in Stryker were worth $3,103,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in SYK. Pinnacle Private Wealth LLC acquired a new stake in Stryker in the fourth quarter valued at approximately $317,000. Captrust Financial Advisors boosted its stake in Stryker by 16.5% in the third quarter. Captrust Financial Advisors now owns 18,298 shares of the medical technology company’s stock valued at $4,837,000 after acquiring an additional 2,585 shares in the last quarter. Beese Fulmer Investment Management Inc. boosted its stake in Stryker by 1.3% in the fourth quarter. Beese Fulmer Investment Management Inc. now owns 37,924 shares of the medical technology company’s stock valued at $10,142,000 after acquiring an additional 492 shares in the last quarter. American International Group Inc. boosted its stake in Stryker by 0.7% in the third quarter. American International Group Inc. now owns 117,477 shares of the medical technology company’s stock valued at $30,981,000 after acquiring an additional 791 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in Stryker by 29.2% in the fourth quarter. ProShare Advisors LLC now owns 72,996 shares of the medical technology company’s stock valued at $19,521,000 after acquiring an additional 16,484 shares in the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Shares of SYK traded up $1.20 during mid-day trading on Wednesday, hitting $234.48. The company’s stock had a trading volume of 12,560 shares, compared to its average volume of 1,516,914. Stryker Co. has a one year low of $224.02 and a one year high of $281.16. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.18 and a current ratio of 1.98. The firm has a market capitalization of $88.67 billion, a PE ratio of 44.35, a price-to-earnings-growth ratio of 2.61 and a beta of 0.99. The stock’s 50-day moving average is $253.41 and its two-hundred day moving average is $256.40.

Stryker (NYSE:SYKGet Rating) last issued its earnings results on Thursday, April 28th. The medical technology company reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.93 by $0.04. Stryker had a return on equity of 24.09% and a net margin of 11.56%. The business had revenue of $4.30 billion during the quarter, compared to analyst estimates of $4.19 billion. During the same period in the prior year, the company posted $1.93 earnings per share. Stryker’s revenue was up 8.8% on a year-over-year basis. Analysts expect that Stryker Co. will post 9.64 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 29th. Stockholders of record on Thursday, June 30th will be issued a dividend of $0.695 per share. This represents a $2.78 annualized dividend and a dividend yield of 1.19%. The ex-dividend date is Wednesday, June 29th. Stryker’s payout ratio is presently 52.85%.

SYK has been the subject of several research reports. Sanford C. Bernstein upgraded shares of Stryker from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $288.00 to $295.00 in a research note on Wednesday, March 16th. StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research note on Monday, May 2nd. BTIG Research lifted their price objective on shares of Stryker from $273.00 to $278.00 in a research note on Monday, April 18th. Truist Financial lowered their price objective on shares of Stryker from $296.00 to $280.00 in a research note on Monday, May 2nd. Finally, Piper Sandler reduced their target price on shares of Stryker from $315.00 to $290.00 in a report on Friday, April 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $291.53.

Stryker Profile (Get Rating)

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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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