Public Employees Retirement System of Ohio Lowers Holdings in Stryker Co. (NYSE:SYK)

Public Employees Retirement System of Ohio decreased its holdings in Stryker Co. (NYSE:SYK - Free Report) by 4.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 155,626 shares of the medical technology company's stock after selling 7,450 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Stryker were worth $56,033,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Elefante Mark B purchased a new stake in shares of Stryker during the fourth quarter worth about $337,000. Chicago Capital LLC boosted its stake in Stryker by 3.1% in the 4th quarter. Chicago Capital LLC now owns 195,052 shares of the medical technology company's stock worth $70,228,000 after purchasing an additional 5,841 shares in the last quarter. Appleton Partners Inc. MA grew its position in Stryker by 5.0% during the 4th quarter. Appleton Partners Inc. MA now owns 29,222 shares of the medical technology company's stock worth $10,521,000 after purchasing an additional 1,400 shares during the last quarter. Metis Global Partners LLC increased its stake in Stryker by 10.2% during the 4th quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company's stock valued at $6,064,000 after purchasing an additional 1,561 shares in the last quarter. Finally, Fred Alger Management LLC raised its holdings in shares of Stryker by 415.8% in the fourth quarter. Fred Alger Management LLC now owns 24,011 shares of the medical technology company's stock worth $8,664,000 after buying an additional 19,356 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of Stryker 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 now owns 3,417,326 shares of the company's stock, valued at approximately $1,288,195,208.96. The trade was a 5.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages recently commented on SYK. Sanford C. Bernstein set a $450.00 target price on Stryker in a research report on Monday, May 5th. Argus set a $450.00 target price on Stryker in a research report on Monday, February 3rd. Royal Bank of Canada boosted their price objective on Stryker from $425.00 to $435.00 and gave the company an "outperform" rating in a research report on Wednesday, January 29th. Truist Financial increased their target price on Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a research report on Monday, May 5th. Finally, Wall Street Zen lowered shares of Stryker from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Stryker currently has a consensus rating of "Moderate Buy" and a consensus target price of $427.30.

Stryker Price Performance

Shares of SYK stock traded down $1.27 during trading hours on Monday, reaching $377.01. The company had a trading volume of 1,579,798 shares, compared to its average volume of 1,348,410. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19. The company has a market capitalization of $143.90 billion, a price-to-earnings ratio of 48.58, a PEG ratio of 2.93 and a beta of 0.93. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The stock has a fifty day moving average of $368.06 and a 200-day moving average of $376.14.

Stryker (NYSE:SYK - Get Free Report) last issued its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.73 by $0.11. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.68 billion. During the same period last year, the company earned $2.50 EPS. The company's revenue for the quarter was up 11.9% on a year-over-year basis. On average, equities analysts anticipate that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued 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 0.89%. Stryker's payout ratio is 45.41%.

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.