Arizona State Retirement System Buys 1,473 Shares of Stryker Corporation (NYSE:SYK)

Arizona State Retirement System boosted its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 1.5% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 100,688 shares of the medical technology company's stock after acquiring an additional 1,473 shares during the period. Arizona State Retirement System's holdings in Stryker were worth $37,481,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in SYK. Capital A Wealth Management LLC bought a new position in Stryker in the 4th quarter worth $26,000. Rakuten Securities Inc. boosted its stake in shares of Stryker by 618.2% in the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock worth $28,000 after acquiring an additional 68 shares during the period. Goodman Advisory Group LLC purchased a new stake in shares of Stryker during the first quarter worth about $32,000. City Holding Co. raised its stake in Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after purchasing an additional 74 shares during the period. Finally, VSM Wealth Advisory LLC purchased a new position in Stryker in the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the sale, the director directly owned 3,417,326 shares in the company, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 5.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently issued reports on SYK. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Roth Mkm raised their price objective on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Evercore ISI boosted their target price on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research report on Tuesday. Wall Street Zen cut Stryker from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Finally, BTIG Research set a $403.00 price objective on Stryker and gave the stock a "buy" rating in a research note on Monday, April 14th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Stryker presently has an average rating of "Moderate Buy" and a consensus target price of $428.55.

Stryker Trading Down 1.4%

Shares of NYSE SYK traded down $5.53 during midday trading on Friday, hitting $389.24. The company's stock had a trading volume of 825,133 shares, compared to its average volume of 1,352,494. Stryker Corporation has a 12-month low of $314.93 and a 12-month high of $406.19. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. The firm has a market cap of $148.57 billion, a P/E ratio of 52.60, a price-to-earnings-growth ratio of 2.98 and a beta of 0.91. The business's 50 day moving average is $384.79 and its two-hundred day moving average is $377.10.

Stryker (NYSE:SYK - Get Free Report) last released its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping analysts' consensus estimates of $2.73 by $0.11. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. During the same quarter last year, the firm posted $2.50 earnings per share. The business's revenue was up 11.9% compared to the same quarter last year. As a group, equities research analysts expect that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 annualized dividend and a yield of 0.86%. Stryker's dividend payout ratio (DPR) is currently 45.41%.

About Stryker

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.