Stryker Corporation $SYK Shares Sold by Arizona State Retirement System

Arizona State Retirement System trimmed its position in Stryker Corporation (NYSE:SYK) by 2.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 97,835 shares of the medical technology company’s stock after selling 2,640 shares during the period. Arizona State Retirement System’s holdings in Stryker were worth $34,386,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of SYK. Venturi Wealth Management LLC boosted its holdings in Stryker by 1.4% in the third quarter. Venturi Wealth Management LLC now owns 1,904 shares of the medical technology company’s stock worth $704,000 after acquiring an additional 27 shares in the last quarter. Wolff Wiese Magana LLC boosted its holdings in Stryker by 2.3% in the third quarter. Wolff Wiese Magana LLC now owns 1,271 shares of the medical technology company’s stock worth $470,000 after acquiring an additional 28 shares in the last quarter. Lantz Financial LLC boosted its holdings in Stryker by 5.0% in the third quarter. Lantz Financial LLC now owns 608 shares of the medical technology company’s stock worth $225,000 after acquiring an additional 29 shares in the last quarter. Stonebridge Capital Advisors LLC boosted its holdings in Stryker by 0.4% in the third quarter. Stonebridge Capital Advisors LLC now owns 7,198 shares of the medical technology company’s stock worth $2,661,000 after acquiring an additional 29 shares in the last quarter. Finally, Tcfg Wealth Management LLC boosted its holdings in Stryker by 2.7% in the third quarter. Tcfg Wealth Management LLC now owns 1,091 shares of the medical technology company’s stock worth $403,000 after acquiring an additional 29 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Trading Up 0.1%

NYSE SYK opened at $329.65 on Friday. The company has a market capitalization of $126.25 billion, a PE ratio of 39.24, a P/E/G ratio of 1.93 and a beta of 0.92. The company has a fifty day moving average of $350.54 and a 200 day moving average of $358.60. Stryker Corporation has a 1 year low of $319.32 and a 1 year high of $404.87. 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 (NYSE:SYK) last posted its earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.40 by $0.07. The company had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The firm’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm posted $4.01 earnings per share. Research analysts forecast that Stryker Corporation will post 14.92 earnings per share for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Tuesday, March 31st. Stryker’s payout ratio is currently 41.90%.

Insider Activity

In related news, Director Ronda E. Stryker sold 250,000 shares of the business’s stock in a transaction on 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 in the company, valued at $891,814,566.52. The trade was a 9.23% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 4.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on SYK. Truist Financial lowered their price target on Stryker from $395.00 to $380.00 and set a “hold” rating for the company in a report on Wednesday, April 15th. Leerink Partners initiated coverage on Stryker in a research report on Monday, April 13th. They set an “outperform” rating and a $410.00 price target for the company. TD Cowen cut Stryker from a “buy” rating to a “hold” rating and set a $387.00 price target for the company. in a research report on Monday, January 26th. Needham & Company LLC lifted their price target on Stryker from $448.00 to $454.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Finally, UBS Group lowered their price target on Stryker from $400.00 to $380.00 and set a “neutral” rating for the company in a research report on Tuesday, March 17th. Fifteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $421.11.

Stryker Profile

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.