New York State Teachers Retirement System Trims Holdings in Stryker Corporation (NYSE:SYK)

New York State Teachers Retirement System cut its stake in Stryker Corporation (NYSE:SYK - Free Report) by 6.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 271,656 shares of the medical technology company's stock after selling 17,272 shares during the quarter. New York State Teachers Retirement System owned about 0.07% of Stryker worth $101,124,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC lifted its stake in shares of Stryker by 15.4% in the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock valued at $1,643,000 after purchasing an additional 609 shares during the period. Kovack Advisors Inc. raised its holdings in Stryker by 8.7% in the fourth quarter. Kovack Advisors Inc. now owns 726 shares of the medical technology company's stock worth $261,000 after purchasing an additional 58 shares in the last quarter. US Bancorp DE lifted its position in Stryker by 0.5% during the fourth quarter. US Bancorp DE now owns 182,825 shares of the medical technology company's stock valued at $65,829,000 after buying an additional 976 shares during the period. Capital Wealth Planning LLC lifted its position in Stryker by 1.9% during the fourth quarter. Capital Wealth Planning LLC now owns 15,376 shares of the medical technology company's stock valued at $5,536,000 after buying an additional 286 shares during the period. Finally, Purkiss Capital Advisors LLC bought a new stake in shares of Stryker during the 4th quarter valued at $375,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the company's 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 completion of the sale, the director directly owned 3,417,326 shares of the company's stock, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.90% of the company's stock.

Stryker Stock Performance

Shares of SYK traded up $2.16 during mid-day trading on Monday, hitting $395.71. 1,151,593 shares of the company traded hands, compared to its average volume of 1,343,972. Stryker Corporation has a 1 year low of $314.93 and a 1 year high of $406.19. 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 50-day moving average price of $379.01 and a two-hundred day moving average price of $375.45. The stock has a market cap of $151.04 billion, a price-to-earnings ratio of 53.47, a P/E/G ratio of 2.97 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last announced its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating analysts' consensus estimates of $2.73 by $0.11. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.68 billion. During the same period in the previous year, the business earned $2.50 EPS. The company's quarterly revenue was up 11.9% compared to the same quarter last year. Equities analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio (DPR) is presently 45.41%.

Analysts Set New Price Targets

Several brokerages recently issued reports on SYK. Roth Mkm increased 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. JMP Securities reiterated a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Evercore ISI dropped their price target on Stryker from $400.00 to $390.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. The Goldman Sachs Group set a $422.00 price objective on Stryker in a research report on Tuesday, March 4th. Finally, Truist Financial lifted their price objective on Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a research note on Monday, May 5th. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Stryker currently has an average rating of "Moderate Buy" and an average target price of $427.30.

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.