Teachers Retirement System of The State of Kentucky Increases Stake in Stryker Corporation (NYSE:SYK)

Teachers Retirement System of The State of Kentucky lifted its stake in Stryker Corporation (NYSE:SYK - Free Report) by 3.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,485 shares of the medical technology company's stock after buying an additional 975 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Stryker were worth $9,859,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC boosted its stake in shares of Stryker by 15.4% in the fourth 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. Proficio Capital Partners LLC lifted its holdings in Stryker by 46.2% in the fourth quarter. Proficio Capital Partners LLC now owns 1,656 shares of the medical technology company's stock worth $596,000 after acquiring an additional 523 shares during the last quarter. TD Private Client Wealth LLC increased its position in Stryker by 4.4% in the fourth quarter. TD Private Client Wealth LLC now owns 5,157 shares of the medical technology company's stock worth $1,857,000 after buying an additional 217 shares during the period. Plancorp LLC increased its stake in shares of Stryker by 27.9% in the fourth quarter. Plancorp LLC now owns 941 shares of the medical technology company's stock valued at $339,000 after purchasing an additional 205 shares during the period. Finally, Fox Run Management L.L.C. bought a new stake in shares of Stryker during the 4th quarter worth about $660,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently commented on SYK. Truist Financial upped their target price on Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a report on Monday, May 5th. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Sanford C. Bernstein set a $450.00 price objective on shares of Stryker in a report on Monday, May 5th. Evercore ISI raised their price objective 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. Finally, Citigroup reaffirmed a "buy" rating and issued a $455.00 price target (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $428.55.

Stryker Stock Performance

NYSE:SYK opened at $388.84 on Monday. Stryker Corporation has a 1-year low of $314.93 and a 1-year high of $406.19. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. The stock has a 50 day simple moving average of $385.67 and a 200 day simple moving average of $378.19. The stock has a market cap of $148.42 billion, a P/E ratio of 52.55, a PEG ratio of 2.94 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping 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 business had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.68 billion. During the same quarter in the prior year, the business posted $2.50 earnings per share. Stryker's revenue was up 11.9% compared to the same quarter last year. Research analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. Stryker's dividend payout ratio (DPR) is presently 45.41%.

Insider Activity at Stryker

In related 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 value of $75,392,000.00. Following the sale, the director owned 3,417,326 shares of the company's stock, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 5.20% of the company's stock.

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.

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