New York State Teachers Retirement System Trims Stock Holdings in Stryker Co. (NYSE:SYK)

New York State Teachers Retirement System reduced its holdings in shares of Stryker Co. (NYSE:SYK) by 2.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 300,203 shares of the medical technology company’s stock after selling 7,829 shares during the quarter. New York State Teachers Retirement System owned about 0.08% of Stryker worth $108,451,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of SYK. Centennial Bank AR lifted its position in shares of Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after acquiring an additional 48 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in Stryker during the 1st quarter worth about $39,000. HBW Advisory Services LLC bought a new position in Stryker in the 3rd quarter worth about $42,000. Grove Bank & Trust grew its holdings in Stryker by 84.8% during the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after buying an additional 56 shares in the last quarter. Finally, DT Investment Partners LLC increased its position in shares of Stryker by 114.3% during the third quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock valued at $49,000 after buying an additional 72 shares during the period. 77.09% of the stock is owned by institutional investors.

Stryker Trading Up 1.6 %

NYSE:SYK traded up $5.57 during trading hours on Wednesday, reaching $364.58. The company’s stock had a trading volume of 525,100 shares, compared to its average volume of 1,247,387. The firm has a 50-day simple moving average of $359.43 and a 200-day simple moving average of $343.84. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. Stryker Co. has a 1 year low of $264.85 and a 1 year high of $374.63. The firm has a market capitalization of $138.89 billion, a price-to-earnings ratio of 41.76, a PEG ratio of 2.73 and a beta of 0.91.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.78 by $0.09. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The company had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the previous year, the company posted $2.46 EPS. Stryker’s revenue for the quarter was up 11.9% on a year-over-year basis. Research analysts expect that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio is 36.53%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the sale, the director now owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now directly owns 3,316,608 shares in the company, valued at $1,072,790,023.68. 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 220,068 shares of company stock valued at $71,811,372 over the last three months. 5.90% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on SYK. Barclays raised their price objective on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. BTIG Research upped their price target on shares of Stryker from $374.00 to $383.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Truist Financial lifted their price objective on Stryker from $345.00 to $370.00 and gave the company a “hold” rating in a research note on Monday, October 14th. Finally, Stifel Nicolaus decreased their target price on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $383.42.

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.