Public Employees Retirement Association of Colorado Sells 2,129 Shares of Stryker Co. (NYSE:SYK)

Public Employees Retirement Association of Colorado reduced its stake in shares of Stryker Co. (NYSE:SYK) by 4.2% in the first quarter, HoldingsChannel.com reports. The fund owned 48,792 shares of the medical technology company’s stock after selling 2,129 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Stryker were worth $17,461,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. increased its position in shares of Stryker by 1.0% in the first quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock valued at $11,258,373,000 after acquiring an additional 309,592 shares during the period. Greenleaf Trust grew its holdings in Stryker by 0.6% in the first quarter. Greenleaf Trust now owns 18,596,387 shares of the medical technology company’s stock worth $6,655,089,000 after purchasing an additional 108,080 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in Stryker by 5.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock worth $3,755,782,000 after purchasing an additional 642,178 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Stryker by 10.4% in the first quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock worth $3,096,078,000 after buying an additional 813,311 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Stryker by 0.6% in the fourth quarter. Franklin Resources Inc. now owns 4,686,440 shares of the medical technology company’s stock worth $1,403,401,000 after buying an additional 29,209 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on SYK. UBS Group increased their price target on shares of Stryker from $339.00 to $351.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. Barclays raised their target price on shares of Stryker from $372.00 to $376.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Piper Sandler raised their target price on shares of Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Evercore ISI lowered their price objective on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. Finally, TD Cowen raised their target price on shares of Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday, April 11th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $372.05.

Stryker Stock Up 0.9 %

NYSE SYK traded up $2.88 on Monday, reaching $334.55. The company had a trading volume of 1,075,430 shares, compared to its average volume of 1,289,547. The firm has a market capitalization of $127.45 billion, a PE ratio of 38.32, a P/E/G ratio of 2.61 and a beta of 0.89. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $361.41. The firm has a 50-day moving average of $338.99 and a 200-day moving average of $339.32. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.99.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same period in the prior year, the business posted $2.14 EPS. The business’s revenue was up 9.7% on a year-over-year basis. On average, equities research analysts anticipate that Stryker Co. will post 11.95 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.96%. The ex-dividend date is Friday, June 28th. Stryker’s dividend payout ratio is presently 36.53%.

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.