California Public Employees Retirement System Sells 12,195 Shares of Stryker Co. (NYSE:SYK)

California Public Employees Retirement System trimmed its holdings in shares of Stryker Co. (NYSE:SYK) by 1.8% in the 4th quarter, Holdings Channel reports. The firm owned 666,703 shares of the medical technology company’s stock after selling 12,195 shares during the quarter. California Public Employees Retirement System’s holdings in Stryker were worth $199,651,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in shares of Stryker by 203.3% during the fourth quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 61 shares during the last quarter. HBC Financial Services PLLC bought a new stake in shares of Stryker during the fourth quarter worth $37,000. Bourgeon Capital Management LLC bought a new stake in shares of Stryker in the fourth quarter valued at about $37,000. Operose Advisors LLC raised its holdings in shares of Stryker by 308.6% in the third quarter. Operose Advisors LLC now owns 143 shares of the medical technology company’s stock valued at $39,000 after acquiring an additional 108 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in shares of Stryker by 97.1% in the fourth quarter. Venturi Wealth Management LLC now owns 136 shares of the medical technology company’s stock valued at $41,000 after acquiring an additional 67 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Performance

NYSE:SYK traded up $0.64 during trading hours on Tuesday, reaching $328.32. The company had a trading volume of 245,774 shares, compared to its average volume of 1,263,145. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $361.41. The firm has a market cap of $124.92 billion, a PE ratio of 39.72, a price-to-earnings-growth ratio of 2.62 and a beta of 0.89. The business’s 50 day moving average price is $349.74 and its 200-day moving average price is $313.59. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.58 and a quick ratio of 0.97.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.19. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The company had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.60 billion. During the same period in the previous year, the company posted $3.00 earnings per share. Stryker’s revenue for the quarter was up 11.8% on a year-over-year basis. Research analysts forecast that Stryker Co. will post 11.86 EPS for the current year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date is Wednesday, March 27th. Stryker’s payout ratio is presently 38.79%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SYK. Royal Bank of Canada lifted their price objective on Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a report on Monday, April 15th. TD Cowen lifted their target price on Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. Wells Fargo & Company lifted their target price on Stryker from $336.00 to $364.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. Finally, Truist Financial lifted their target price on Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a research note on Wednesday, January 31st. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $340.45.

Insider Buying and Selling at Stryker

In other Stryker news, Director Allan C. Golston sold 3,273 shares of the business’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total value of $1,116,093.00. Following the completion of the transaction, the director now directly owns 14,242 shares of the company’s stock, valued at $4,856,522. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Allan C. Golston sold 3,273 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The stock was sold at an average price of $341.00, for a total value of $1,116,093.00. Following the transaction, the director now directly owns 14,242 shares of the company’s stock, valued at $4,856,522. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 212,109 shares of company stock valued at $72,845,768. 5.50% of the stock is owned by company insiders.

Stryker Company Profile

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.