New York State Common Retirement Fund Reduces Position in Stryker Co. (NYSE:SYK)

New York State Common Retirement Fund trimmed its holdings in Stryker Co. (NYSE:SYK) by 0.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 508,088 shares of the medical technology company’s stock after selling 1,100 shares during the quarter. New York State Common Retirement Fund’s holdings in Stryker were worth $182,937,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dunhill Financial LLC lifted its position in Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after buying an additional 37 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in shares of Stryker during the 3rd quarter worth $36,000. Activest Wealth Management acquired a new position in shares of Stryker during the 4th quarter valued at about $36,000. Crews Bank & Trust purchased a new stake in shares of Stryker in the fourth quarter valued at about $39,000. Finally, Hara Capital LLC acquired a new stake in Stryker during the third quarter worth about $42,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction dated Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the sale, the director now directly owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. The trade was a 5.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 5.50% of the company’s stock.

Analyst Ratings Changes

SYK has been the subject of several analyst reports. Stifel Nicolaus increased their price target on shares of Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a research note on Thursday, January 30th. Wells Fargo & Company upped their price target on Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. The Goldman Sachs Group raised their price objective on Stryker from $384.00 to $427.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. Finally, Canaccord Genuity Group upped their target price on shares of Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $420.68.

Stryker Price Performance

Shares of NYSE SYK opened at $385.44 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The company has a market cap of $147.08 billion, a price-to-earnings ratio of 49.67, a price-to-earnings-growth ratio of 2.90 and a beta of 0.96. The stock’s 50-day moving average is $377.44 and its two-hundred day moving average is $367.94. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same quarter last year, the business earned $3.46 EPS. Analysts forecast that Stryker Co. will post 13.49 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.87%. Stryker’s dividend payout ratio (DPR) is currently 43.30%.

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.