Allstate Corp Takes Position in Stryker Co. (NYSE:SYK)

Allstate Corp purchased a new position in Stryker Co. (NYSE:SYK) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,250 shares of the medical technology company’s stock, valued at approximately $3,691,000.

Other institutional investors also recently added to or reduced their stakes in the company. J. W. Coons Advisors LLC raised its position in shares of Stryker by 0.7% in the fourth quarter. J. W. Coons Advisors LLC now owns 3,653 shares of the medical technology company’s stock valued at $1,315,000 after purchasing an additional 26 shares during the period. Mascoma Wealth Management LLC raised its holdings in Stryker by 22.7% during the 4th quarter. Mascoma Wealth Management LLC now owns 146 shares of the medical technology company’s stock valued at $53,000 after acquiring an additional 27 shares during the period. Opal Wealth Advisors LLC lifted its position in shares of Stryker by 1.6% during the fourth quarter. Opal Wealth Advisors LLC now owns 1,816 shares of the medical technology company’s stock worth $654,000 after acquiring an additional 28 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in shares of Stryker by 2.0% in the fourth quarter. Lindbrook Capital LLC now owns 1,407 shares of the medical technology company’s stock worth $507,000 after acquiring an additional 28 shares during the period. Finally, Capital & Planning LLC grew its position in shares of Stryker by 3.6% in the fourth quarter. Capital & Planning LLC now owns 841 shares of the medical technology company’s stock valued at $304,000 after purchasing an additional 29 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the transaction, the director now owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Allan C. Golston sold 2,458 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the sale, the director now owns 14,895 shares of the company’s stock, valued at $5,705,827.65. This represents a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

SYK has been the topic of a number of recent research reports. Citigroup reissued a “buy” rating and set a $450.00 price objective on shares of Stryker in a report on Wednesday, February 26th. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. The Goldman Sachs Group set a $422.00 target price on shares of Stryker in a report on Tuesday, March 4th. Royal Bank of Canada raised their price target on shares of Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Finally, Canaccord Genuity Group upped their price target on shares of Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $421.90.

Stryker Stock Down 0.9 %

Shares of NYSE SYK opened at $364.38 on Friday. The stock has a market capitalization of $139.08 billion, a P/E ratio of 46.96, a PEG ratio of 2.93 and a beta of 0.95. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The firm’s 50 day simple moving average is $384.08 and its two-hundred day simple moving average is $374.25.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period in the previous year, the firm posted $3.46 EPS. As a group, analysts expect that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.92%. Stryker’s payout ratio is 43.30%.

About Stryker

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.