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

Retirement Systems of Alabama grew its stake in Stryker Co. (NYSE:SYK) by 0.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 75,427 shares of the medical technology company’s stock after buying an additional 637 shares during the period. Retirement Systems of Alabama’s holdings in Stryker were worth $27,249,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Parnassus Investments LLC acquired a new position in Stryker in the 3rd quarter worth approximately $762,798,000. International Assets Investment Management LLC increased its stake in shares of Stryker by 66,967.5% in the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock worth $308,433,000 after acquiring an additional 852,496 shares during the period. RTW Investments LP purchased a new position in shares of Stryker during the third quarter worth $143,392,000. American Century Companies Inc. raised its holdings in shares of Stryker by 287.6% during the second quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock worth $172,033,000 after purchasing an additional 375,166 shares during the last quarter. Finally, State Street Corp lifted its position in Stryker by 2.2% during the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after purchasing an additional 316,404 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Stryker

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,685,213.16. The trade was a 42.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

SYK has been the topic of several analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $425.00 price target (up from $400.00) on shares of Stryker in a research report on Wednesday. Canaccord Genuity Group raised their target price on Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Barclays boosted their price target on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. raised their price objective on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Robert W. Baird boosted their target price on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $404.35.

Stryker Stock Down 0.1 %

NYSE SYK opened at $374.75 on Friday. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. Stryker Co. has a 52 week low of $285.79 and a 52 week high of $398.20. The business’s fifty day simple moving average is $373.36 and its 200-day simple moving average is $354.92. The firm has a market cap of $142.86 billion, a PE ratio of 40.17, a P/E/G ratio of 2.83 and a beta of 0.94.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.10. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. During the same period in the previous year, the business posted $2.46 EPS. Stryker’s revenue was up 11.9% on a year-over-year basis. As a group, equities analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.84 dividend. This is a positive change from Stryker’s previous quarterly dividend of $0.80. The ex-dividend date is Tuesday, December 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.90%. Stryker’s payout ratio is presently 34.30%.

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.