Retirement Systems of Alabama Cuts Stock Holdings in Stryker Co. (NYSE:SYK)

Retirement Systems of Alabama lessened its position in Stryker Co. (NYSE:SYK) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 74,516 shares of the medical technology company’s stock after selling 1,910 shares during the quarter. Retirement Systems of Alabama’s holdings in Stryker were worth $22,315,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in SYK. Magellan Asset Management Ltd grew its holdings in shares of Stryker by 74,911.8% during the third quarter. Magellan Asset Management Ltd now owns 680,357 shares of the medical technology company’s stock worth $185,921,000 after buying an additional 679,450 shares in the last quarter. Barclays PLC grew its stake in Stryker by 103.5% during the 3rd quarter. Barclays PLC now owns 1,084,987 shares of the medical technology company’s stock valued at $296,493,000 after acquiring an additional 551,798 shares in the last quarter. Morgan Stanley raised its holdings in Stryker by 4.4% in the 3rd quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock valued at $1,452,493,000 after acquiring an additional 223,728 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Stryker by 24.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,115,955 shares of the medical technology company’s stock worth $304,957,000 after purchasing an additional 217,672 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in shares of Stryker by 14.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 1,547,683 shares of the medical technology company’s stock worth $422,099,000 after purchasing an additional 194,715 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Stryker

In other Stryker news, Director Allan C. Golston sold 3,273 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the sale, the director now owns 14,242 shares of the company’s stock, valued at $4,856,522. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of Stryker 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 transaction, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at $1,317,414. The transaction 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 business’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total value of $1,116,093.00. Following the completion of the sale, the director now owns 14,242 shares of the company’s stock, valued at approximately $4,856,522. The disclosure for this sale can be found here. Insiders sold 212,109 shares of company stock valued at $72,845,768 over the last three months. 5.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SYK. Truist Financial lifted their price objective on Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a research report on Wednesday, January 31st. Roth Mkm upped their price objective on shares of Stryker from $345.00 to $348.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Wells Fargo & Company raised their price objective on shares of Stryker from $336.00 to $364.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and lifted their price target for the company from $315.00 to $360.00 in a research report on Wednesday, January 31st. Finally, Evercore ISI raised their target price on Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Three investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $340.67.

Stryker Trading Up 1.0 %

Shares of SYK stock opened at $338.97 on Tuesday. The stock has a market capitalization of $128.97 billion, a P/E ratio of 41.09, a price-to-earnings-growth ratio of 2.70 and a beta of 0.89. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $361.41. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.97 and a current ratio of 1.58. The company has a 50 day moving average price of $348.68 and a 200 day moving average price of $316.14.

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

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s payout ratio is 38.79%.

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.