State of Alaska Department of Revenue Has $14.08 Million Stake in Stryker Co. (NYSE:SYK)

State of Alaska Department of Revenue cut its stake in shares of Stryker Co. (NYSE:SYK) by 4.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 39,118 shares of the medical technology company’s stock after selling 1,725 shares during the period. State of Alaska Department of Revenue’s holdings in Stryker were worth $14,084,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SYK. State Street Corp boosted its holdings in shares of Stryker by 2.2% during the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after buying an additional 316,404 shares during the period. FMR LLC grew its position in shares of Stryker by 3.0% in the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock valued at $2,639,725,000 after purchasing an additional 215,782 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Stryker by 2.5% during the 3rd quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock worth $2,484,893,000 after purchasing an additional 165,490 shares during the last quarter. Parnassus Investments LLC bought a new stake in shares of Stryker in the third quarter valued at approximately $762,798,000. Finally, Janus Henderson Group PLC raised its position in shares of Stryker by 1.5% during the third quarter. Janus Henderson Group PLC now owns 1,969,757 shares of the medical technology company’s stock valued at $711,594,000 after buying an additional 28,421 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the subject of several research reports. BTIG Research raised their target price on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. UBS Group upped their price target on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Truist Financial lifted their target price on shares of Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. JMP Securities reiterated a “market perform” rating on shares of Stryker in a research report on Tuesday, January 7th. Finally, Citigroup raised their target price on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $419.37.

Stryker Stock Performance

Shares of SYK opened at $399.01 on Thursday. The company has a market capitalization of $152.11 billion, a price-to-earnings ratio of 51.42, a PEG ratio of 2.78 and a beta of 0.96. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The stock has a 50 day moving average of $376.87 and a 200 day moving average of $364.00. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same quarter in the prior year, the firm earned $3.46 earnings per share. As a group, sell-side analysts forecast that Stryker Co. will post 13.5 earnings per share for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.84%. Stryker’s dividend payout ratio is currently 43.30%.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction dated 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 owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 5.50% of the company’s stock.

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.