Teachers Retirement System of The State of Kentucky Takes $6.49 Million Position in Stryker Co. (NYSE:SYK)

Teachers Retirement System of The State of Kentucky bought a new stake in Stryker Co. (NYSE:SYK – Get Rating) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 32,020 shares of the medical technology company’s stock, valued at approximately $6,485,000.

Several other institutional investors and hedge funds also recently made changes to their positions in SYK. Ontario Teachers Pension Plan Board raised its holdings in shares of Stryker by 87,902.2% in the first quarter. Ontario Teachers Pension Plan Board now owns 2,077,732 shares of the medical technology company’s stock valued at $555,482,000 after purchasing an additional 2,075,371 shares during the last quarter. Clearbridge Investments LLC raised its holdings in shares of Stryker by 664.0% in the second quarter. Clearbridge Investments LLC now owns 2,199,253 shares of the medical technology company’s stock valued at $437,497,000 after purchasing an additional 1,911,376 shares during the last quarter. Diamond Hill Capital Management Inc. purchased a new stake in Stryker during the third quarter worth about $241,841,000. CCLA Investment Management purchased a new stake in Stryker during the third quarter worth about $93,811,000. Finally, Vanguard Group Inc. increased its holdings in Stryker by 1.4% during the third quarter. Vanguard Group Inc. now owns 29,795,845 shares of the medical technology company’s stock worth $6,034,850,000 after buying an additional 422,828 shares during the last quarter. Hedge funds and other institutional investors own 77.10% of the company’s stock.

Stryker Stock Down 0.3 %

SYK opened at $274.44 on Friday. The company has a fifty day moving average price of $263.78 and a 200-day moving average price of $238.30. The firm has a market capitalization of $103.97 billion, a P/E ratio of 44.48, a price-to-earnings-growth ratio of 2.83 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. Stryker Co. has a one year low of $188.84 and a one year high of $284.00.

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

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Friday, March 31st will be given a $0.75 dividend. The ex-dividend date is Thursday, March 30th. This represents a $3.00 annualized dividend and a yield of 1.09%. Stryker’s dividend payout ratio (DPR) is presently 48.62%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SYK. Argus raised their price objective on shares of Stryker from $270.00 to $285.00 and gave the stock a “buy” rating in a report on Tuesday, February 21st. Wells Fargo & Company raised their price objective on shares of Stryker from $281.00 to $285.00 and gave the stock an “overweight” rating in a report on Wednesday, February 1st. Citigroup raised their price objective on shares of Stryker from $282.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, February 1st. Barclays raised their price objective on shares of Stryker from $265.00 to $283.00 and gave the stock an “overweight” rating in a report on Thursday, February 2nd. Finally, StockNews.com began coverage on shares of Stryker in a research note on Thursday. They issued a “buy” rating for the company. Seven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and a consensus price target of $270.79.

Insider Buying and Selling

In related news, VP M Kathryn Fink sold 6,571 shares of the company’s stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of $257.69, for a total value of $1,693,280.99. Following the completion of the transaction, the vice president now directly owns 9,264 shares in the company, valued at $2,387,240.16. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider James Andrew Pierce sold 400 shares of the company’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $277.88, for a total value of $111,152.00. Following the completion of the transaction, the insider now directly owns 46,676 shares in the company, valued at $12,970,326.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP M Kathryn Fink sold 6,571 shares of the company’s stock in a transaction on Wednesday, January 11th. The stock was sold at an average price of $257.69, for a total transaction of $1,693,280.99. Following the completion of the transaction, the vice president now owns 9,264 shares of the company’s stock, valued at $2,387,240.16. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 357,410 shares of company stock worth $97,831,003. Corporate insiders own 6.70% of the company’s stock.

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.