Retirement Systems of Alabama Decreases Stock Holdings in Stryker Co. (NYSE:SYK)

Retirement Systems of Alabama lowered its holdings in Stryker Co. (NYSE:SYK) by 2.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 74,516 shares of the medical technology company’s stock after selling 1,910 shares during the quarter. Retirement Systems of Alabama’s holdings in Stryker were worth $22,315,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in SYK. Farmers & Merchants Trust Co of Chambersburg PA increased its holdings in Stryker by 203.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 61 shares in the last quarter. HBC Financial Services PLLC purchased a new stake in shares of Stryker during the 4th quarter valued at about $37,000. Bourgeon Capital Management LLC acquired a new position in Stryker during the 4th quarter worth approximately $37,000. Operose Advisors LLC boosted its holdings in Stryker by 308.6% in the 3rd quarter. Operose Advisors LLC now owns 143 shares of the medical technology company’s stock worth $39,000 after acquiring an additional 108 shares during the period. Finally, Venturi Wealth Management LLC grew its position in Stryker by 97.1% in the fourth quarter. Venturi Wealth Management LLC now owns 136 shares of the medical technology company’s stock valued at $41,000 after acquiring an additional 67 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SYK shares. TD Cowen boosted their target price on shares of Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. Citigroup boosted their price target on Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a research note on Wednesday, April 3rd. Truist Financial raised their price objective on Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a research note on Wednesday, January 31st. Finally, Royal Bank of Canada upped their target price on Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $340.67.

Insider Buying and Selling at Stryker

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the sale, the chief accounting officer now owns 3,675 shares in the company, valued at $1,317,414. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Ronda E. Stryker sold 201,146 shares of the company’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the sale, the director now owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The disclosure for this sale can be found here. Insiders sold 212,109 shares of company stock valued at $72,845,768 in the last ninety days. Company insiders own 5.50% of the company’s stock.

Stryker Stock Up 1.0 %

NYSE:SYK opened at $338.97 on Tuesday. The firm has a market capitalization of $128.97 billion, a PE ratio of 41.09, a price-to-earnings-growth ratio of 2.70 and a beta of 0.89. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $361.41. 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 50 day moving average of $348.68 and a 200-day moving average of $316.14.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, topping 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 firm had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.60 billion. During the same period in the prior year, the business earned $3.00 EPS. The firm’s revenue was up 11.8% on a year-over-year basis. Analysts predict that Stryker Co. will post 11.86 EPS for the current year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be given a $0.80 dividend. The ex-dividend date is Wednesday, March 27th. This represents a $3.20 annualized dividend and a yield of 0.94%. Stryker’s dividend payout ratio is presently 38.79%.

About Stryker

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.