Kentucky Retirement Systems Insurance Trust Fund Increases Stock Holdings in Stryker Co. (NYSE:SYK)

Kentucky Retirement Systems Insurance Trust Fund raised its position in Stryker Co. (NYSE:SYK) by 3.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,453 shares of the medical technology company’s stock after buying an additional 302 shares during the period. Kentucky Retirement Systems Insurance Trust Fund’s holdings in Stryker were worth $3,764,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dunhill Financial LLC lifted its holdings in Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 37 shares during the last quarter. Darwin Wealth Management LLC acquired a new position in Stryker during the 3rd quarter valued at about $36,000. Activest Wealth Management bought a new stake in Stryker during the fourth quarter worth approximately $36,000. Crews Bank & Trust acquired a new stake in shares of Stryker in the fourth quarter valued at $39,000. Finally, Hara Capital LLC bought a new position in shares of Stryker during the 3rd quarter valued at about $42,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Truist Financial lifted their price target on Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Citigroup boosted 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. Wells Fargo & Company raised their price target on shares of Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Barclays boosted their target price on Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, JMP Securities reiterated a “market perform” rating on shares of Stryker in a research note on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and a consensus target price of $420.68.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction on Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the transaction, the director now owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.90% of the company’s stock.

Stryker Trading Down 0.9 %

Shares of SYK stock opened at $385.05 on Tuesday. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The company has a market cap of $146.79 billion, a price-to-earnings ratio of 49.62, a PEG ratio of 2.98 and a beta of 0.96. The firm has a fifty day moving average price of $377.31 and a 200-day moving average price of $367.19. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping the consensus estimate 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 period in the prior year, the firm earned $3.46 EPS. As a group, equities analysts predict that Stryker Co. will post 13.49 earnings per share for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio is currently 43.30%.

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.