Teacher Retirement System of Texas Sells 43,290 Shares of Stryker Corporation $SYK

Key Points

• Teacher Retirement System of Texas trimmed its stake in Stryker by 24.9%, selling 43,290 shares and leaving it with 130,611 shares valued at about $45.91 million at quarter-end.
• Director Ronda E. Stryker sold 250,000 shares for roughly $90.73 million, reducing her ownership by 9.23%—a notable insider sale.
• Stryker beat Q4 expectations (EPS $4.47 vs. $4.40; revenue $7.17B, +11.4% y/y), declared a $0.88 quarterly dividend ($3.52 annual, 1.1% yield), and carries a consensus "Moderate Buy" with a $421.11 price target.

Teacher Retirement System of Texas cut its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 24.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 130,611 shares of the medical technology company's stock after selling 43,290 shares during the period. Teacher Retirement System of Texas' holdings in Stryker were worth $45,906,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Clayton Financial Group LLC acquired a new position in shares of Stryker in the 3rd quarter valued at $26,000. United Financial Planning Group LLC bought a new stake in Stryker in the third quarter valued at about $27,000. Strive Asset Management LLC acquired a new position in Stryker in the third quarter worth about $30,000. ANTIPODES PARTNERS Ltd bought a new position in Stryker during the third quarter worth about $34,000. Finally, Copia Wealth Management boosted its holdings in Stryker by 181.6% during the third quarter. Copia Wealth Management now owns 107 shares of the medical technology company's stock valued at $40,000 after purchasing an additional 69 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Trading Up 0.1%

SYK stock opened at $329.65 on Friday. The business has a fifty day moving average price of $350.54 and a 200 day moving average price of $358.60. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21. Stryker Corporation has a fifty-two week low of $319.32 and a fifty-two week high of $404.87. The stock has a market capitalization of $126.25 billion, a price-to-earnings ratio of 39.24, a P/E/G ratio of 1.93 and a beta of 0.92.

Stryker (NYSE:SYK - Get Free Report) last announced its earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, topping the consensus estimate of $4.40 by $0.07. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The company had revenue of $7.17 billion for the quarter, compared to analysts' expectations of $7.12 billion. During the same quarter in the prior year, the business earned $4.01 earnings per share. The business's revenue for the quarter was up 11.4% on a year-over-year basis. Analysts expect that Stryker Corporation will post 14.92 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be given a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.1%. The ex-dividend date is Tuesday, March 31st. Stryker's dividend payout ratio (DPR) is presently 41.90%.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of the business's stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the transaction, the director directly owned 2,457,331 shares of the company's stock, valued at approximately $891,814,566.52. The trade was a 9.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 4.60% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. BTIG Research reissued a "buy" rating and issued a $397.00 target price on shares of Stryker in a report on Tuesday, April 14th. Barclays reiterated an "overweight" rating and issued a $469.00 price target on shares of Stryker in a research report on Monday, February 2nd. Wall Street Zen lowered Stryker from a "buy" rating to a "hold" rating in a research note on Saturday, April 18th. Citigroup cut their price objective on Stryker from $420.00 to $385.00 and set a "buy" rating for the company in a report on Tuesday, April 7th. Finally, William Blair reaffirmed an "outperform" rating on shares of Stryker in a report on Thursday, March 5th. Fifteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $421.11.

About Stryker

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons' offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.

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