Teachers Retirement System of The State of Kentucky Sells 1,335 Shares of Stryker Co. (NYSE:SYK)

Teachers Retirement System of The State of Kentucky cut its position in Stryker Co. (NYSE:SYK) by 5.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 25,510 shares of the medical technology company’s stock after selling 1,335 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Stryker were worth $9,216,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of SYK. Dunhill Financial LLC boosted its holdings in shares of Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 37 shares in the last quarter. Centennial Bank AR lifted its holdings in Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares during the period. Darwin Wealth Management LLC bought a new stake in shares of Stryker in the 3rd quarter valued at about $36,000. HBW Advisory Services LLC acquired a new stake in shares of Stryker in the third quarter valued at about $42,000. Finally, Hara Capital LLC bought a new position in shares of Stryker during the third quarter worth about $42,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Performance

Shares of SYK opened at $375.01 on Friday. The firm has a market capitalization of $142.96 billion, a P/E ratio of 40.19, a P/E/G ratio of 2.84 and a beta of 0.94. Stryker Co. has a 52 week low of $285.79 and a 52 week high of $398.20. The stock has a 50 day moving average price of $372.42 and a two-hundred day moving average price of $354.51. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.77 by $0.10. The company had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. Stryker’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.46 earnings per share. Equities analysts forecast that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a yield of 0.90%. Stryker’s payout ratio is 34.30%.

Insider Buying and Selling at Stryker

In related news, VP M Kathryn Fink sold 7,347 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. The trade was a 42.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SYK. Evercore ISI increased their target price on shares of Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Piper Sandler reissued an “overweight” rating and set a $420.00 target price (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Barclays upped their price target on shares of Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research report on Thursday, October 31st. Royal Bank of Canada reissued an “outperform” rating and issued a $425.00 price objective (up from $400.00) on shares of Stryker in a research report on Wednesday. Finally, Needham & Company LLC upped their target price on Stryker from $409.00 to $442.00 and gave the company a “buy” rating in a research report on Thursday. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $404.35.

Stryker Company 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.