California State Teachers Retirement System Trims Holdings in Stryker Co. (NYSE:SYK)

California State Teachers Retirement System cut its stake in Stryker Co. (NYSE:SYK – Get Rating) by 1.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 577,129 shares of the medical technology company’s stock after selling 6,011 shares during the quarter. California State Teachers Retirement System’s holdings in Stryker were worth $116,892,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Hazlett Burt & Watson Inc. purchased a new position in shares of Stryker in the third quarter valued at $41,000. Old North State Trust LLC bought a new stake in Stryker during the third quarter valued at $46,000. Hallmark Capital Management Inc. bought a new stake in Stryker during the third quarter valued at $48,000. Webster Bank N. A. boosted its stake in Stryker by 123.2% during the third quarter. Webster Bank N. A. now owns 250 shares of the medical technology company’s stock valued at $51,000 after buying an additional 138 shares during the period. Finally, Western Pacific Wealth Management LP boosted its stake in Stryker by 3,862.5% during the third quarter. Western Pacific Wealth Management LP now owns 317 shares of the medical technology company’s stock valued at $64,000 after buying an additional 309 shares during the period. 77.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Stryker

In related news, VP M Kathryn Fink sold 3,536 shares of the business’s stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $260.00, for a total transaction of $919,360.00. Following the transaction, the vice president now owns 9,264 shares in the company, valued at approximately $2,408,640. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Stryker news, VP M Kathryn Fink sold 3,536 shares of the company’s stock in a transaction that occurred on Monday, January 9th. The stock was sold at an average price of $260.00, for a total transaction of $919,360.00. Following the transaction, the vice president now owns 9,264 shares in the company, valued at approximately $2,408,640. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Allan C. Golston sold 5,459 shares of the company’s stock in a transaction that occurred on Tuesday, February 28th. The stock was sold at an average price of $263.27, for a total value of $1,437,190.93. Following the transaction, the director now owns 13,537 shares in the company, valued at approximately $3,563,885.99. The disclosure for this sale can be found here. Insiders have sold a total of 357,410 shares of company stock worth $97,831,003 in the last 90 days. Company insiders own 6.50% of the company’s stock.

Stryker Stock Down 1.0 %

Shares of NYSE:SYK opened at $273.03 on Thursday. Stryker Co. has a 1 year low of $188.84 and a 1 year high of $284.00. The company has a market cap of $103.43 billion, a PE ratio of 44.25, a P/E/G ratio of 2.72 and a beta of 0.93. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.63 and a quick ratio of 1.00. The stock’s 50-day moving average is $262.91 and its 200 day moving average is $237.57.

Stryker (NYSE:SYK – Get Rating) last announced its quarterly earnings results on Tuesday, January 31st. The medical technology company reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.84 by $0.16. Stryker had a return on equity of 22.39% and a net margin of 12.78%. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $4.97 billion. During the same quarter in the previous year, the business earned $2.71 EPS. Stryker’s revenue was up 10.7% compared to the same quarter last year. Sell-side analysts anticipate that Stryker Co. will post 10.02 EPS for the current year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Friday, March 31st will be issued a dividend of $0.75 per share. The ex-dividend date is Thursday, March 30th. This represents a $3.00 dividend on an annualized basis and a yield of 1.10%. Stryker’s dividend payout ratio is presently 48.62%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SYK shares. Robert W. Baird lifted their price objective on Stryker from $240.00 to $287.00 and gave the company an “outperform” rating in a research note on Wednesday, February 1st. Canaccord Genuity Group lifted their price objective on Stryker from $220.00 to $250.00 and gave the company a “hold” rating in a research note on Wednesday, February 1st. KeyCorp began coverage on Stryker in a research note on Wednesday, January 25th. They set a “sector weight” rating for the company. StockNews.com began coverage on Stryker in a research note on Thursday. They set a “buy” rating for the company. Finally, Loop Capital lifted their price target on Stryker from $245.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, February 1st. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and a consensus price target of $272.00.

Stryker Profile

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Stryker Corp. is a medical technology company, which engages in the provision of innovative products and services that help improve patient and healthcare outcomes. It operates under the MedSurg and Neurotechnology, and Orthopaedics and Spine segments. The MedSurg and Neurotechnology segment includes surgical equipment and navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment, intensive care disposable products, clinical communication, workflow solutions, products for the treatment of acute ischemic and hemorrhagic stroke, traditional brain, and open skull based surgical procedures, orthobiologic, and biosurgery.