New York State Common Retirement Fund Cuts Stock Position in Stryker Co. (NYSE:SYK)

New York State Common Retirement Fund trimmed its position in shares of Stryker Co. (NYSE:SYK) by 9.2% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 509,188 shares of the medical technology company’s stock after selling 51,500 shares during the quarter. New York State Common Retirement Fund owned about 0.13% of Stryker worth $183,949,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of SYK. Patrick M Sweeney & Associates Inc. boosted its stake in Stryker by 1.5% in the third quarter. Patrick M Sweeney & Associates Inc. now owns 2,194 shares of the medical technology company’s stock valued at $793,000 after acquiring an additional 32 shares in the last quarter. Proficio Capital Partners LLC boosted its position in shares of Stryker by 2.4% in the 1st quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock worth $507,000 after purchasing an additional 33 shares in the last quarter. Versant Capital Management Inc grew its stake in Stryker by 4.0% during the 2nd quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock worth $294,000 after buying an additional 33 shares during the last quarter. Stanley Laman Group Ltd. increased its position in Stryker by 4.6% during the 2nd quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock valued at $256,000 after buying an additional 33 shares in the last quarter. Finally, Plimoth Trust Co. LLC raised its stake in Stryker by 0.3% in the second quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock valued at $3,224,000 after buying an additional 33 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Stryker Price Performance

Stryker stock traded up $6.91 during trading on Friday, reaching $363.19. The company had a trading volume of 208,540 shares, compared to its average volume of 1,250,976. The firm has a market capitalization of $138.40 billion, a PE ratio of 38.19, a price-to-earnings-growth ratio of 2.79 and a beta of 0.91. The firm’s 50-day simple moving average is $359.90 and its 200 day simple moving average is $344.06. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.95 and a current ratio of 1.91. Stryker Co. has a 1-year low of $266.93 and a 1-year high of $374.63.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same quarter last year, the business earned $2.46 earnings per share. The company’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Stryker Co. will post 12.05 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were issued a dividend of $0.80 per share. The ex-dividend date was Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.88%. Stryker’s payout ratio is currently 34.30%.

Insider Activity

In related news, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,715,540. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Viju Menon sold 600 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 200,068 shares of company stock worth $65,151,372 over the last quarter. 5.90% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on SYK shares. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Truist Financial upped their price target on shares of Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research note on Wednesday. Canaccord Genuity Group lifted their price objective on shares of Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a research note on Wednesday. Robert W. Baird upped their target price on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Morgan Stanley boosted their price target on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Stryker 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.