New York State Common Retirement Fund Sells 33,300 Shares of Stryker Corporation (NYSE:SYK)

New York State Common Retirement Fund decreased its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 6.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 474,788 shares of the medical technology company's stock after selling 33,300 shares during the period. New York State Common Retirement Fund owned 0.12% of Stryker worth $176,740,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Capital A Wealth Management LLC acquired a new position in Stryker during the 4th quarter worth $26,000. Goodman Advisory Group LLC bought a new position in Stryker during the first quarter valued at about $32,000. City Holding Co. raised its holdings in Stryker by 528.6% in the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after acquiring an additional 74 shares in the last quarter. VSM Wealth Advisory LLC acquired a new position in Stryker in the 4th quarter valued at approximately $36,000. Finally, Smallwood Wealth Investment Management LLC acquired a new position in Stryker in the 1st quarter valued at approximately $40,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the sale, the director directly owned 3,417,326 shares of the company's stock, valued at $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 5.90% of the company's stock.

Stryker Price Performance

Shares of NYSE SYK traded down $5.53 during mid-day trading on Friday, hitting $389.24. 825,133 shares of the stock were exchanged, compared to its average volume of 1,354,569. The company has a market cap of $148.57 billion, a P/E ratio of 52.60, a PEG ratio of 2.94 and a beta of 0.91. The stock's fifty day simple moving average is $384.79 and its two-hundred day simple moving average is $377.14. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.00 and a current ratio of 1.64. Stryker Corporation has a twelve month low of $314.93 and a twelve month high of $406.19.

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

Stryker Announces Dividend

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

Analysts Set New Price Targets

SYK has been the subject of several recent research reports. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Sanford C. Bernstein set a $450.00 price target on Stryker in a report on Monday, May 5th. Wall Street Zen cut Stryker from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Evercore ISI increased their price target on shares of Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Finally, Truist Financial increased their price target on shares of Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research report on Monday, May 5th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Stryker presently has a consensus rating of "Moderate Buy" and a consensus price target of $428.55.

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.