Stryker Co. (NYSE:SYK) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its position in Stryker Co. (NYSE:SYK) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 666,703 shares of the medical technology company’s stock after selling 12,195 shares during the period. California Public Employees Retirement System owned approximately 0.18% of Stryker worth $199,651,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Keybank National Association OH grew its holdings in shares of Stryker by 3.5% in the 3rd quarter. Keybank National Association OH now owns 27,823 shares of the medical technology company’s stock worth $7,603,000 after acquiring an additional 952 shares during the period. Carnegie Capital Asset Management LLC increased its position in Stryker by 0.5% during the fourth quarter. Carnegie Capital Asset Management LLC now owns 96,241 shares of the medical technology company’s stock worth $28,820,000 after buying an additional 497 shares in the last quarter. CoreCap Advisors LLC increased its position in Stryker by 3.9% during the fourth quarter. CoreCap Advisors LLC now owns 5,030 shares of the medical technology company’s stock worth $1,506,000 after buying an additional 191 shares in the last quarter. DNB Asset Management AS increased its position in Stryker by 5.7% during the fourth quarter. DNB Asset Management AS now owns 76,413 shares of the medical technology company’s stock worth $22,883,000 after buying an additional 4,143 shares in the last quarter. Finally, LGT Capital Partners LTD. increased its position in Stryker by 24.4% during the fourth quarter. LGT Capital Partners LTD. now owns 434,997 shares of the medical technology company’s stock worth $130,264,000 after buying an additional 85,240 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analysts Set New Price Targets

SYK has been the subject of several recent research reports. Royal Bank of Canada raised their price target on Stryker from $360.00 to $386.00 and gave the stock an “outperform” rating in a research report on Monday, April 15th. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and raised their price objective for the stock from $315.00 to $360.00 in a report on Wednesday, January 31st. Citigroup raised their price objective on Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Evercore ISI raised their price objective on Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a report on Thursday, April 4th. Finally, Roth Mkm raised their price objective on Stryker from $345.00 to $348.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Stryker has an average rating of “Moderate Buy” and a consensus target price of $340.45.

Stryker Stock Up 0.2 %

Stryker stock traded up $0.64 during midday trading on Tuesday, hitting $328.32. The stock had a trading volume of 245,774 shares, compared to its average volume of 1,263,145. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. The stock has a market cap of $124.92 billion, a P/E ratio of 39.72, a P/E/G ratio of 2.62 and a beta of 0.89. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $361.41. The business has a fifty day moving average price of $349.74 and a 200 day moving average price of $313.59.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, beating analysts’ consensus estimates of $3.27 by $0.19. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The company had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.60 billion. During the same period in the previous year, the firm posted $3.00 earnings per share. Stryker’s quarterly revenue was up 11.8% compared to the same quarter last year. Research analysts predict that Stryker Co. will post 11.86 EPS for the current year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a yield of 0.97%. Stryker’s payout ratio is currently 38.79%.

Insider Buying and Selling at Stryker

In other news, Director Allan C. Golston sold 3,273 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the completion of the transaction, the director now directly owns 14,242 shares in the company, valued at $4,856,522. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the sale, the chief accounting officer now directly owns 3,675 shares in the company, valued at $1,317,414. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Allan C. Golston sold 3,273 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total value of $1,116,093.00. Following the completion of the sale, the director now owns 14,242 shares of the company’s stock, valued at $4,856,522. The disclosure for this sale can be found here. Insiders sold a total of 212,109 shares of company stock worth $72,845,768 over the last ninety days. Company insiders own 5.50% of the company’s stock.

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.