Stryker Corporation $SYK Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund reduced its position in shares of Stryker Corporation (NYSE:SYK) by 5.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 425,337 shares of the medical technology company’s stock after selling 26,251 shares during the period. New York State Common Retirement Fund owned 0.11% of Stryker worth $157,234,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Norges Bank acquired a new position in Stryker in the 2nd quarter valued at $1,882,173,000. Alliancebernstein L.P. grew its holdings in shares of Stryker by 307.6% during the second quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock worth $2,214,146,000 after buying an additional 4,223,366 shares in the last quarter. Corient Private Wealth LLC raised its position in shares of Stryker by 104.4% in the second quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock valued at $887,525,000 after buying an additional 1,146,998 shares during the last quarter. ABN AMRO Bank N.V. purchased a new position in shares of Stryker in the second quarter worth about $191,047,000. Finally, Vanguard Group Inc. boosted its position in Stryker by 1.3% during the second quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock worth $13,253,831,000 after acquiring an additional 440,607 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 a number of recent research reports. Royal Bank Of Canada reiterated an “outperform” rating and issued a $435.00 price objective on shares of Stryker in a report on Friday, November 14th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Stryker in a report on Monday, December 22nd. Citizens Jmp raised Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price objective on the stock in a research note on Friday, December 19th. Wells Fargo & Company raised their target price on Stryker from $452.00 to $456.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. Finally, Wall Street Zen upgraded Stryker from a “hold” rating to a “buy” rating in a report on Sunday, December 21st. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $425.94.

Stryker Price Performance

NYSE:SYK opened at $358.19 on Thursday. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $404.87. The stock’s fifty day moving average is $359.50 and its two-hundred day moving average is $372.07. The company has a market capitalization of $136.98 billion, a P/E ratio of 47.07, a P/E/G ratio of 2.27 and a beta of 0.89. The company has a quick ratio of 1.13, a current ratio of 1.85 and a debt-to-equity ratio of 0.68.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Friday, October 31st. The medical technology company reported $3.19 earnings per share (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 quarterly revenue was up 10.2% on a year-over-year basis. During the same period last year, the company earned $2.87 EPS. Equities analysts expect that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders 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 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Wednesday, December 31st. Stryker’s dividend payout ratio (DPR) is 46.25%.

Insider Activity

In other Stryker news, CFO Preston Wendell Wells sold 165 shares of the business’s stock in a transaction that occurred on Thursday, November 20th. The stock was sold at an average price of $365.88, for a total value of $60,370.20. Following the sale, the chief financial officer owned 6,694 shares of the company’s stock, valued at $2,449,200.72. The trade was a 2.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ronda E. Stryker sold 276,173 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $353.28, for a total value of $97,566,397.44. Following the transaction, the director owned 2,702,108 shares of the company’s stock, valued at approximately $954,600,714.24. This represents a 9.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 522,118 shares of company stock valued at $185,381,932. Company insiders own 5.20% of the company’s stock.

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.