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

New York State Common Retirement Fund trimmed its holdings in Stryker Co. (NYSE:SYK) by 9.2% in the 3rd quarter, HoldingsChannel reports. 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’s holdings in Stryker were worth $183,949,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Centennial Bank AR grew its holdings in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the period. Central Pacific Bank Trust Division purchased a new position in Stryker during the first quarter worth about $39,000. HBW Advisory Services LLC acquired a new stake in shares of Stryker during the third quarter valued at about $42,000. Grove Bank & Trust raised its stake in shares of Stryker by 84.8% in the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after acquiring an additional 56 shares during the period. Finally, DT Investment Partners LLC lifted its holdings in shares of Stryker by 114.3% in the 3rd quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock worth $49,000 after acquiring an additional 72 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

SYK has been the subject of several research reports. Royal Bank of Canada lifted their target price on shares of Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday. UBS Group boosted their price objective on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday. Piper Sandler restated an “overweight” rating and set a $420.00 target price (up from $380.00) on shares of Stryker in a report on Wednesday. Needham & Company LLC boosted their price target on shares of Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. raised their price objective on shares of Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research note on Wednesday. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and a consensus target price of $393.65.

Insider Buying and Selling at Stryker

In other news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the sale, the vice president now owns 10,042 shares in the company, valued at approximately $3,685,213.16. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the sale, the vice president now owns 10,042 shares in the company, valued at approximately $3,685,213.16. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now owns 9,069 shares in the company, valued at approximately $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. Over the last three months, insiders have sold 200,068 shares of company stock worth $65,151,372. 5.90% of the stock is owned by company insiders.

Stryker Stock Up 1.9 %

Shares of Stryker stock traded up $6.91 during trading hours on Friday, hitting $363.19. The company had a trading volume of 208,540 shares, compared to its average volume of 1,250,976. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 0.95. The company’s 50-day moving average is $359.90 and its two-hundred day moving average is $344.06. The company has a market cap of $138.40 billion, a P/E ratio of 38.19, a price-to-earnings-growth ratio of 2.79 and a beta of 0.91. Stryker Co. has a twelve month low of $266.93 and a twelve month high of $374.63.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. The company had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.46 earnings per share. Analysts anticipate that Stryker Co. will post 12.05 earnings per share for the current fiscal year.

Stryker Announces Dividend

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

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.