New Age Alpha Advisors LLC Sells 2,183 Shares of Stryker Corporation $SYK

New Age Alpha Advisors LLC trimmed its holdings in shares of Stryker Corporation (NYSE:SYK) by 9.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 21,083 shares of the medical technology company’s stock after selling 2,183 shares during the quarter. New Age Alpha Advisors LLC’s holdings in Stryker were worth $7,794,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of SYK. Norges Bank purchased a new position in shares of Stryker in the second quarter valued at $1,882,173,000. Alliancebernstein L.P. boosted its holdings in Stryker by 307.6% during the 2nd quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock valued at $2,214,146,000 after acquiring an additional 4,223,366 shares during the period. Corient Private Wealth LLC increased its stake in Stryker by 104.4% in the second quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock worth $887,525,000 after purchasing an additional 1,146,998 shares during the period. ABN AMRO Bank N.V. purchased a new stake in Stryker in the second quarter worth $191,047,000. Finally, Vanguard Group Inc. lifted its position in shares of Stryker by 1.3% during the second quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock worth $13,253,831,000 after purchasing an additional 440,607 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Stryker Trading Up 0.3%

SYK opened at $387.34 on Friday. The company has a market capitalization of $148.23 billion, a P/E ratio of 46.11, a PEG ratio of 2.26 and a beta of 0.87. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $404.87. The stock’s fifty day moving average is $363.17 and its two-hundred day moving average is $369.16.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.40 by $0.07. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The business had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.12 billion. During the same quarter last year, the firm earned $4.01 EPS. The business’s revenue for the quarter was up 11.4% on a year-over-year basis. Analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.88 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.52 dividend on an annualized basis and a dividend yield of 0.9%. Stryker’s payout ratio is 41.90%.

Analyst Ratings Changes

Several equities research analysts have issued reports on SYK shares. Truist Financial lowered their price objective on shares of Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a research report on Thursday, December 18th. Piper Sandler reissued an “overweight” rating on shares of Stryker in a research note on Tuesday, January 27th. UBS Group raised their price objective on Stryker from $386.00 to $400.00 and gave the stock a “neutral” rating in a report on Tuesday. Weiss Ratings reissued a “hold (c+)” rating on shares of Stryker in a research report on Monday, December 22nd. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $435.00 price objective on shares of Stryker in a report on Friday, November 14th. Thirteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $426.47.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 250,000 shares of Stryker stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the completion of the transaction, the director directly owned 2,457,331 shares in the company, valued at approximately $891,814,566.52. This trade represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.90% of the stock is owned by company insiders.

Stryker Company Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.