Kentucky Retirement Systems Lowers Stock Position in Stryker Co. (NYSE:SYK)

Kentucky Retirement Systems reduced its stake in shares of Stryker Co. (NYSE:SYK) by 1.4% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 23,561 shares of the medical technology company’s stock after selling 324 shares during the period. Kentucky Retirement Systems’ holdings in Stryker were worth $8,483,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Suncoast Equity Management grew its holdings in Stryker by 1.4% in the fourth quarter. Suncoast Equity Management now owns 121,950 shares of the medical technology company’s stock valued at $43,908,000 after purchasing an additional 1,696 shares during the last quarter. Ardent Capital Management Inc. boosted its stake in shares of Stryker by 2.4% during the fourth quarter. Ardent Capital Management Inc. now owns 31,804 shares of the medical technology company’s stock valued at $11,451,000 after acquiring an additional 755 shares during the last quarter. Nicholson Wealth Management Group LLC raised its stake in Stryker by 63.8% in the 4th quarter. Nicholson Wealth Management Group LLC now owns 4,504 shares of the medical technology company’s stock valued at $1,622,000 after purchasing an additional 1,754 shares during the last quarter. Tandem Investment Advisors Inc. lifted its holdings in Stryker by 2.6% in the 4th quarter. Tandem Investment Advisors Inc. now owns 272,938 shares of the medical technology company’s stock valued at $98,271,000 after purchasing an additional 6,897 shares in the last quarter. Finally, Aspen Investment Management Inc boosted its stake in shares of Stryker by 2.9% during the 4th quarter. Aspen Investment Management Inc now owns 4,647 shares of the medical technology company’s stock worth $1,673,000 after purchasing an additional 133 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Down 0.5 %

Shares of Stryker stock opened at $386.47 on Friday. The company has a fifty day moving average price of $377.92 and a 200 day moving average price of $368.21. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Stryker Co. has a twelve month low of $314.93 and a twelve month high of $406.19. The stock has a market cap of $147.47 billion, a price-to-earnings ratio of 49.80, a price-to-earnings-growth ratio of 2.93 and a beta of 0.96.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same period in the prior year, the business earned $3.46 earnings per share. Equities research analysts forecast that Stryker Co. will post 13.49 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.87%. Stryker’s dividend payout ratio is currently 43.30%.

Insider Transactions at Stryker

In related news, Director Allan C. Golston sold 2,458 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the sale, the director now directly owns 14,895 shares of the company’s stock, valued at $5,705,827.65. The trade was a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ronda E. Stryker sold 201,392 shares of the business’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 completion of the sale, the director now owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on SYK. UBS Group boosted their price objective on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group boosted their price target on Stryker from $384.00 to $427.00 and gave the company a “neutral” rating in a report on Thursday, January 30th. Piper Sandler restated an “overweight” rating and set a $420.00 price objective (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Truist Financial upped their target price on Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. raised their price target on Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $420.68.

Stryker Company 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.