New York State Teachers Retirement System Sells 11,275 Shares of Stryker Co. (NYSE:SYK)

New York State Teachers Retirement System trimmed its stake in Stryker Co. (NYSE:SYK) by 3.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 288,928 shares of the medical technology company’s stock after selling 11,275 shares during the quarter. New York State Teachers Retirement System owned 0.08% of Stryker worth $104,029,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. V Square Quantitative Management LLC lifted its holdings in shares of Stryker by 7.5% during the fourth quarter. V Square Quantitative Management LLC now owns 5,799 shares of the medical technology company’s stock valued at $2,088,000 after purchasing an additional 403 shares in the last quarter. Figure 8 Investment Strategies LLC bought a new position in shares of Stryker during the fourth quarter valued at $1,710,000. Catalyst Financial Partners LLC lifted its holdings in shares of Stryker by 5.6% during the fourth quarter. Catalyst Financial Partners LLC now owns 1,450 shares of the medical technology company’s stock valued at $522,000 after purchasing an additional 77 shares in the last quarter. Asset Management One Co. Ltd. lifted its holdings in shares of Stryker by 0.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 133,843 shares of the medical technology company’s stock valued at $49,135,000 after purchasing an additional 1,106 shares in the last quarter. Finally, Aljian Capital Management LLC lifted its holdings in shares of Stryker by 7.0% during the fourth quarter. Aljian Capital Management LLC now owns 13,493 shares of the medical technology company’s stock valued at $4,858,000 after purchasing an additional 888 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SYK has been the subject of a number of research reports. Royal Bank of Canada upped their price objective on Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a research report on Wednesday, January 29th. Robert W. Baird upped their price objective on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Needham & Company LLC reiterated a “buy” rating and set a $442.00 price objective on shares of Stryker in a research report on Wednesday, January 29th. Citigroup upped their price objective on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Finally, UBS Group upped their price objective on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and an average price target of $420.68.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $392.24, for a total value 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. This trade represents a 5.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.90% of the stock is owned by corporate insiders.

Stryker Stock Performance

NYSE:SYK opened at $388.28 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19. The stock has a 50-day moving average price of $377.19 and a 200 day moving average price of $366.15. The stock has a market capitalization of $148.02 billion, a P/E ratio of 50.04, a P/E/G ratio of 2.98 and a beta of 0.96.

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

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s payout ratio is presently 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.