Retirement Systems of Alabama Lowers Stock Position in Stryker Co. (NYSE:SYK)

Retirement Systems of Alabama lowered its position in Stryker Co. (NYSE:SYK) by 1.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,282 shares of the medical technology company’s stock after selling 1,145 shares during the period. Retirement Systems of Alabama’s holdings in Stryker were worth $26,745,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Dunhill Financial LLC raised its holdings in shares of Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 37 shares during the last quarter. Darwin Wealth Management LLC purchased a new stake in shares of Stryker in the third quarter valued at about $36,000. Crews Bank & Trust purchased a new stake in shares of Stryker in the fourth quarter valued at about $39,000. Hara Capital LLC purchased a new stake in shares of Stryker in the third quarter valued at about $42,000. Finally, Grove Bank & Trust raised its holdings in shares of Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after purchasing an additional 56 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on SYK. Truist Financial raised their price objective on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Robert W. Baird raised their price objective on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Canaccord Genuity Group raised their price objective on shares of Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Royal Bank of Canada raised their price objective on shares of Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Finally, Stifel Nicolaus raised their price objective on shares of Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $419.37.

Stryker Price Performance

SYK stock opened at $399.01 on Thursday. The firm has a 50 day moving average of $376.87 and a 200-day moving average of $364.00. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The firm has a market capitalization of $152.11 billion, a P/E ratio of 51.42, a price-to-earnings-growth ratio of 2.78 and a beta of 0.96.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period last year, the company earned $3.46 earnings per share. As a group, sell-side analysts predict that Stryker Co. will post 13.5 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.84%. Stryker’s dividend payout ratio is currently 43.30%.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the sale, the director now directly owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 5.50% of the stock is currently owned by 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.