New York State Teachers Retirement System Lowers Position in Stryker Co. (NYSE:SYK)

New York State Teachers Retirement System lowered its position in Stryker Co. (NYSE:SYK) by 2.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 300,203 shares of the medical technology company’s stock after selling 7,829 shares during the period. New York State Teachers Retirement System’s holdings in Stryker were worth $108,451,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in SYK. Patrick M Sweeney & Associates Inc. grew 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 worth $793,000 after purchasing an additional 32 shares during the period. Proficio Capital Partners LLC increased its stake 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 acquiring an additional 33 shares in the last quarter. Versant Capital Management Inc lifted its position in Stryker by 4.0% during the 2nd quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock valued at $294,000 after acquiring an additional 33 shares during the period. Stanley Laman Group Ltd. boosted its stake in Stryker by 4.6% during the second quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock worth $256,000 after acquiring an additional 33 shares in the last quarter. Finally, Plimoth Trust Co. LLC boosted its stake in Stryker by 0.3% during the second quarter. Plimoth Trust Co. LLC now owns 9,476 shares of the medical technology company’s stock worth $3,224,000 after acquiring an additional 33 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on SYK. Morgan Stanley lifted their target price on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. UBS Group lifted their price objective on Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Needham & Company LLC increased their target price on Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a research note on Wednesday. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, October 1st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $386.00 price target on shares of Stryker in a research note on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $383.42.

Insider Transactions at Stryker

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the sale, the chief financial officer now directly owns 2,852 shares in the company, 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 this link. In other news, insider Viju Menon sold 600 shares of Stryker 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 directly owns 9,069 shares of the company’s stock, valued at $3,219,495. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total value of $6,660,000.00. Following the transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at approximately $949,716. 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 220,068 shares of company stock worth $71,811,372 in the last 90 days. 5.90% of the stock is currently owned by insiders.

Stryker Stock Performance

Shares of NYSE SYK traded up $5.57 during midday trading on Wednesday, hitting $364.58. 525,100 shares of the stock traded hands, compared to its average volume of 1,247,387. 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 one year low of $264.85 and a one year high of $374.63. The firm has a market capitalization of $138.89 billion, a P/E ratio of 41.76, a PEG ratio of 2.73 and a beta of 0.91. The firm has a 50-day moving average of $359.43 and a two-hundred day moving average of $343.84.

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, topping the consensus estimate of $2.78 by $0.09. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same period last year, the firm posted $2.46 earnings per share. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. On average, equities analysts forecast that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Dividend Announcement

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

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.