Teachers Retirement System of The State of Kentucky Cuts Stock Holdings in Stryker Co. (NYSE:SYK)

Teachers Retirement System of The State of Kentucky lowered its stake in shares of Stryker Co. (NYSE:SYKGet Rating) by 4.2% during the first quarter, Holdings Channel reports. The fund owned 24,006 shares of the medical technology company’s stock after selling 1,044 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Stryker were worth $6,418,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of SYK. Claremont Financial Group Inc. acquired a new position in shares of Stryker during the first quarter worth $25,000. Exane Derivatives acquired a new position in shares of Stryker during the first quarter worth $27,000. Princeton Global Asset Management LLC grew its stake in shares of Stryker by 1,212.5% during the first quarter. Princeton Global Asset Management LLC now owns 105 shares of the medical technology company’s stock worth $28,000 after purchasing an additional 97 shares in the last quarter. Dixon Hughes Goodman Wealth Advisors LLC grew its stake in shares of Stryker by 10,700.0% during the first quarter. Dixon Hughes Goodman Wealth Advisors LLC now owns 108 shares of the medical technology company’s stock worth $29,000 after purchasing an additional 107 shares in the last quarter. Finally, Core Alternative Capital grew its stake in shares of Stryker by 720.0% during the first quarter. Core Alternative Capital now owns 123 shares of the medical technology company’s stock worth $33,000 after purchasing an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 76.44% of the company’s stock.

Analyst Ratings Changes

SYK has been the subject of a number of analyst reports. Bank of America downgraded shares of Stryker from a “buy” rating to a “neutral” rating in a research note on Monday, July 11th. Cowen lowered their target price on shares of Stryker from $305.00 to $233.00 and set an “outperform” rating for the company in a research note on Friday, July 22nd. Stifel Nicolaus decreased their price objective on shares of Stryker from $285.00 to $245.00 in a research note on Monday, July 18th. Piper Sandler upped their price objective on shares of Stryker from $250.00 to $260.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Robert W. Baird decreased their price objective on shares of Stryker from $297.00 to $240.00 and set an “outperform” rating for the company in a research note on Wednesday, July 27th. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus target price of $256.29.

Stryker Price Performance

Shares of SYK opened at $221.25 on Friday. The company has a market capitalization of $83.67 billion, a price-to-earnings ratio of 40.75, a price-to-earnings-growth ratio of 2.75 and a beta of 1.03. Stryker Co. has a fifty-two week low of $188.84 and a fifty-two week high of $280.43. The firm has a 50-day simple moving average of $211.40 and a 200-day simple moving average of $229.46. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.15 and a current ratio of 2.00.

Stryker (NYSE:SYKGet Rating) last posted its quarterly earnings results on Tuesday, July 26th. The medical technology company reported $2.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.28 by ($0.03). Stryker had a return on equity of 23.34% and a net margin of 11.79%. During the same quarter in the previous year, the firm earned $2.25 EPS. On average, equities research analysts anticipate that Stryker Co. will post 9.38 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be issued a dividend of $0.695 per share. The ex-dividend date is Thursday, September 29th. This represents a $2.78 annualized dividend and a yield of 1.26%. Stryker’s dividend payout ratio is currently 51.20%.

Stryker Profile

(Get Rating)

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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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