Stryker Corporation (NYSE:SYK) Shares Sold by Maryland State Retirement & Pension System

Key Points

• Maryland State Retirement & Pension System reduced its stake in Stryker Corporation by 13.5% in Q1, owning 16,922 shares valued at approximately $6.3 million.
• Stryker's Director Ronda E. Stryker sold 200,000 shares for $75.29 million, marking a 5.84% decrease in her position.
• Analysts have set Stryker's price targets between $415.00 and $455.00, with a consensus rating of "Moderate Buy" and an average target price of $430.10.

Maryland State Retirement & Pension System decreased its stake in Stryker Corporation (NYSE:SYK - Free Report) by 13.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,922 shares of the medical technology company's stock after selling 2,637 shares during the quarter. Maryland State Retirement & Pension System's holdings in Stryker were worth $6,299,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Capital A Wealth Management LLC purchased a new position in shares of Stryker in the fourth quarter worth about $26,000. Goodman Advisory Group LLC purchased a new position in shares of Stryker in the first quarter worth about $32,000. City Holding Co. lifted its stake in shares of Stryker by 528.6% in the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after buying an additional 74 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new position in shares of Stryker in the first quarter worth about $40,000. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of Stryker in the fourth quarter worth about $42,000. 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 business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the completion of the sale, the director owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. The trade was a 5.84% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.90% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on SYK. Evercore ISI raised their price target on shares of Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 8th. Citigroup reissued a "buy" rating and issued a $455.00 price target (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Sanford C. Bernstein set a $450.00 target price on shares of Stryker in a research note on Monday, May 5th. BTIG Research reaffirmed a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Finally, Wells Fargo & Company lifted their target price on shares of Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat.com, Stryker has an average rating of "Moderate Buy" and a consensus target price of $430.10.

Stryker Trading Up 0.3%

Shares of SYK stock opened at $376.21 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. The stock has a market capitalization of $143.83 billion, a P/E ratio of 49.83, a price-to-earnings-growth ratio of 2.72 and a beta of 0.91. The company has a 50 day moving average price of $387.27 and a 200 day moving average price of $380.27. Stryker Corporation has a fifty-two week low of $320.78 and a fifty-two week high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, topping the consensus estimate of $3.07 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The company had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $5.92 billion. During the same quarter in the previous year, the business posted $2.81 EPS. The firm's revenue was up 11.1% on a year-over-year basis. Equities research analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. Stryker's dividend payout ratio is presently 44.50%.

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.

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