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

Teachers Retirement System of The State of Kentucky lessened its position in shares of Stryker Co. (NYSE:SYK) by 4.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 27,630 shares of the medical technology company’s stock after selling 1,382 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Stryker were worth $9,888,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Assenagon Asset Management S.A. raised its position in Stryker by 1.2% in the fourth quarter. Assenagon Asset Management S.A. now owns 8,820 shares of the medical technology company’s stock valued at $2,641,000 after purchasing an additional 103 shares during the period. DAVENPORT & Co LLC raised its position in Stryker by 3.3% in the fourth quarter. DAVENPORT & Co LLC now owns 13,645 shares of the medical technology company’s stock valued at $4,086,000 after purchasing an additional 431 shares during the period. UMB Bank n.a. raised its position in Stryker by 1.0% in the fourth quarter. UMB Bank n.a. now owns 7,844 shares of the medical technology company’s stock valued at $2,349,000 after purchasing an additional 77 shares during the period. Venturi Wealth Management LLC raised its position in 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 purchasing an additional 67 shares during the period. Finally, Trust Point Inc. purchased a new stake in Stryker in the fourth quarter valued at approximately $569,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Transactions at Stryker

In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the sale, the chief financial officer now owns 2,852 shares of the company’s stock, valued at approximately $949,716. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 5.90% of the company’s stock.

Stryker Stock Down 0.5 %

Shares of NYSE:SYK traded down $1.61 during midday trading on Friday, hitting $331.56. 1,738,648 shares of the company’s stock traded hands, compared to its average volume of 1,432,445. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.99 and a current ratio of 1.68. The company has a market cap of $126.35 billion, a PE ratio of 37.85, a P/E/G ratio of 2.56 and a beta of 0.89. The firm’s fifty day moving average price is $338.87 and its two-hundred day moving average price is $339.79. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter in the previous year, the business posted $2.54 EPS. The business’s quarterly revenue was up 8.5% on a year-over-year basis. On average, equities research analysts anticipate that Stryker Co. will post 11.99 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th were given a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.97%. The ex-dividend date of this dividend was Friday, June 28th. Stryker’s payout ratio is currently 36.53%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Robert W. Baird boosted their target price on Stryker from $367.00 to $378.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a report on Thursday, July 11th. Wells Fargo & Company increased their target price on Stryker from $364.00 to $381.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. Roth Mkm increased their target price on Stryker from $348.00 to $405.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, Barclays raised their price objective on Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a report on Thursday. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $373.11.

Stryker 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.