Stryker Corporation (NYSE:SYK) Stock Holdings Increased by State of Alaska Department of Revenue

State of Alaska Department of Revenue increased its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 2.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 40,243 shares of the medical technology company's stock after purchasing an additional 1,125 shares during the quarter. State of Alaska Department of Revenue's holdings in Stryker were worth $14,980,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of SYK. Norges Bank purchased a new position in shares of Stryker in the 4th quarter valued at $1,710,744,000. GAMMA Investing LLC increased its holdings in Stryker by 43,226.8% in the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock valued at $772,390,000 after purchasing an additional 2,070,133 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Stryker in the 4th quarter valued at $353,394,000. FMR LLC raised its position in Stryker by 10.0% in the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock valued at $2,892,946,000 after purchasing an additional 727,850 shares during the period. Finally, Proficio Capital Partners LLC lifted its stake in shares of Stryker by 52,520.8% during the fourth quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company's stock worth $214,660,000 after purchasing an additional 595,061 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company's stock.

Stryker Stock Performance

Shares of NYSE SYK traded down $0.15 during trading on Wednesday, reaching $373.22. The stock had a trading volume of 854,682 shares, compared to its average volume of 1,331,605. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.00 and a current ratio of 1.64. The stock has a market cap of $142.45 billion, a PE ratio of 50.43, a P/E/G ratio of 2.84 and a beta of 0.91. Stryker Corporation has a one year low of $314.93 and a one year high of $406.19. The firm's 50 day moving average price is $373.73 and its two-hundred day moving average price is $375.54.

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, beating the consensus estimate of $2.73 by $0.11. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The firm had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.68 billion. During the same quarter in the previous year, the firm earned $2.50 earnings per share. The firm's revenue for the quarter was up 11.9% compared to the same quarter last year. On average, research analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm 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 dividend of $0.84 per share. The ex-dividend date is Monday, June 30th. This represents a $3.36 annualized dividend and a yield of 0.90%. Stryker's dividend payout ratio (DPR) is 45.41%.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction 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 completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

SYK has been the subject of a number of recent research reports. Sanford C. Bernstein set a $450.00 target price on Stryker in a research note on Monday, May 5th. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Wall Street Zen raised shares of Stryker from a "hold" rating to a "buy" rating in a research report on Saturday. The Goldman Sachs Group set a $422.00 target price on shares of Stryker in a research note on Tuesday, March 4th. Finally, Roth Mkm lifted their price target on shares of Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $427.30.

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.