Public Employees Retirement System of Ohio Decreases Position in Stryker Co. (NYSE:SYK)

Public Employees Retirement System of Ohio decreased its stake in Stryker Co. (NYSE:SYK) by 0.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 163,076 shares of the medical technology company’s stock after selling 1,550 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Stryker were worth $58,913,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Dunhill Financial LLC increased its position in Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 37 shares during the last quarter. Centennial Bank AR boosted its stake in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after purchasing an additional 48 shares during the period. Darwin Wealth Management LLC bought a new position in Stryker during the 3rd quarter valued at about $36,000. HBW Advisory Services LLC purchased a new stake in Stryker in the 3rd quarter worth about $42,000. Finally, Hara Capital LLC bought a new stake in Stryker in the third quarter worth about $42,000. Institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SYK. Canaccord Genuity Group increased their price target on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Piper Sandler reiterated an “overweight” rating and issued a $420.00 target price (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. Barclays raised their target price on shares of Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a research report on Thursday, October 31st. Finally, Evercore ISI increased their price objective on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $398.40.

Insider Buying and Selling

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the sale, the chief executive officer now owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. The trade was a 17.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,781 shares of company stock worth $24,612,275 in the last three months. Corporate insiders own 5.50% of the company’s stock.

Stryker Stock Performance

Shares of SYK opened at $385.02 on Monday. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The firm has a market cap of $146.78 billion, a PE ratio of 41.27, a P/E/G ratio of 2.90 and a beta of 0.94. Stryker Co. has a 12 month low of $285.79 and a 12 month high of $398.20. The stock has a fifty day moving average price of $371.10 and a 200-day moving average price of $353.67.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same period last year, the business posted $2.46 earnings per share. The firm’s revenue was up 11.9% compared to the same quarter last year. Equities research analysts predict that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

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.