New York State Teachers Retirement System Trims Stake in Stryker Corporation $SYK

New York State Teachers Retirement System cut its position in shares of Stryker Corporation (NYSE:SYK) by 1.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 261,873 shares of the medical technology company’s stock after selling 3,835 shares during the period. New York State Teachers Retirement System’s holdings in Stryker were worth $96,807,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Swmg LLC boosted its holdings in shares of Stryker by 34.8% in the third quarter. Swmg LLC now owns 2,976 shares of the medical technology company’s stock valued at $1,140,000 after purchasing an additional 768 shares during the period. Reliant Investment Management LLC lifted its holdings in shares of Stryker by 4.0% in the 3rd quarter. Reliant Investment Management LLC now owns 16,152 shares of the medical technology company’s stock worth $5,971,000 after buying an additional 619 shares during the period. Deltec Asset Management LLC grew its position in shares of Stryker by 37.2% during the 3rd quarter. Deltec Asset Management LLC now owns 3,690 shares of the medical technology company’s stock worth $1,364,000 after buying an additional 1,000 shares in the last quarter. Associated Banc Corp grew its position in shares of Stryker by 1.9% during the 3rd quarter. Associated Banc Corp now owns 23,535 shares of the medical technology company’s stock worth $8,700,000 after buying an additional 447 shares in the last quarter. Finally, Forum Financial Management LP raised its holdings in shares of Stryker by 39.2% in the third quarter. Forum Financial Management LP now owns 3,967 shares of the medical technology company’s stock valued at $1,467,000 after acquiring an additional 1,117 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Stryker

In related news, CAO William E. Berry, Jr. sold 1,953 shares of Stryker stock in a transaction on Friday, November 14th. The shares were sold at an average price of $365.49, for a total value of $713,801.97. Following the sale, the chief accounting officer owned 2,833 shares of the company’s stock, valued at approximately $1,035,433.17. This trade represents a 40.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 276,173 shares of the business’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the completion of the sale, the director directly owned 2,702,108 shares of the company’s stock, valued at approximately $954,600,714.24. The trade was a 9.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 522,118 shares of company stock valued at $185,381,932. Corporate insiders own 5.90% of the company’s stock.

Stryker Price Performance

Shares of NYSE SYK opened at $367.75 on Friday. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.13 and a current ratio of 1.85. The company has a market cap of $140.64 billion, a PE ratio of 48.32, a P/E/G ratio of 2.35 and a beta of 0.89. The business has a 50-day simple moving average of $359.91 and a two-hundred day simple moving average of $375.08.

Stryker (NYSE:SYK) last released its earnings results on Friday, October 31st. The medical technology company reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.13 by $0.06. The firm had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $6.04 billion. Stryker had a return on equity of 24.07% and a net margin of 12.07%.The company’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.87 earnings per share. As a group, equities analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be given a dividend of $0.88 per share. This is a boost from Stryker’s previous quarterly dividend of $0.84. This represents a $3.52 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, December 31st. Stryker’s dividend payout ratio (DPR) is 46.25%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SYK. Sanford C. Bernstein increased their target price on shares of Stryker from $450.00 to $465.00 and gave the stock an “outperform” rating in a report on Friday. Raymond James Financial raised shares of Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price objective on the stock in a report on Tuesday. Needham & Company LLC restated a “buy” rating and set a $448.00 target price on shares of Stryker in a report on Friday, November 14th. Citizens Jmp raised Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price target for the company in a research report on Friday, December 19th. Finally, Rothschild Redb upgraded Stryker to a “hold” rating in a research note on Thursday, September 18th. Fourteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $430.00.

Stryker Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.