Public Employees Retirement Association of Colorado Decreases Stock Position in Stryker Co. (NYSE:SYK)

Public Employees Retirement Association of Colorado trimmed its position in shares of Stryker Co. (NYSE:SYK) by 2.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 47,414 shares of the medical technology company’s stock after selling 1,378 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Stryker were worth $16,133,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Precision Wealth Strategies LLC boosted its position in Stryker by 2.1% during the fourth quarter. Precision Wealth Strategies LLC now owns 3,114 shares of the medical technology company’s stock worth $933,000 after acquiring an additional 65 shares during the last quarter. Gryphon Financial Partners LLC purchased a new position in Stryker in the 4th quarter worth approximately $348,000. TrinityPoint Wealth LLC boosted its holdings in shares of Stryker by 2.5% during the 4th quarter. TrinityPoint Wealth LLC now owns 2,841 shares of the medical technology company’s stock worth $851,000 after purchasing an additional 70 shares during the last quarter. CreativeOne Wealth LLC purchased a new stake in shares of Stryker in the fourth quarter valued at approximately $370,000. Finally, Assetmark Inc. increased its holdings in shares of Stryker by 57.1% in the fourth quarter. Assetmark Inc. now owns 891 shares of the medical technology company’s stock valued at $267,000 after purchasing an additional 324 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Needham & Company LLC raised their target price on Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Piper Sandler restated an “overweight” rating and set a $380.00 price objective on shares of Stryker in a research report on Tuesday, September 10th. Morgan Stanley boosted 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. StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a report on Monday, September 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $386.00 price objective on shares of Stryker in a report on Wednesday, July 31st. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Stryker has a consensus rating of “Moderate Buy” and an average target price of $378.58.

Insider Buying and Selling

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the sale, the director now directly owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 220,068 shares of company stock worth $71,811,372. Company insiders own 5.90% of the company’s stock.

Stryker Trading Down 0.1 %

Shares of SYK stock opened at $364.81 on Friday. The stock has a market capitalization of $139.02 billion, a P/E ratio of 41.64, a price-to-earnings-growth ratio of 2.87 and a beta of 0.91. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $374.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. The company has a 50 day moving average price of $345.12 and a 200 day moving average price of $342.96.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the prior year, the company earned $2.54 earnings per share. The company’s revenue was up 8.5% on a year-over-year basis. Equities research analysts predict that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.88%. Stryker’s payout ratio is 36.53%.

Stryker 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.