Retirement Systems of Alabama raised its stake in shares of Stryker Corp. (NYSE:SYK) by 0.5% during the second quarter, Holdings Channel reports. The institutional investor owned 160,154 shares of the medical technology company’s stock after buying an additional 745 shares during the period. Retirement Systems of Alabama’s holdings in Stryker Corp. were worth $19,191,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in SYK. Carroll Financial Associates Inc. boosted its stake in shares of Stryker Corp. by 78.0% in the second quarter. Carroll Financial Associates Inc. now owns 1,086 shares of the medical technology company’s stock valued at $130,000 after buying an additional 476 shares in the last quarter. CWM LLC acquired a new stake in shares of Stryker Corp. during the second quarter valued at about $150,000. Lau Associates LLC acquired a new stake in shares of Stryker Corp. during the second quarter valued at about $204,000. Brightworth acquired a new stake in shares of Stryker Corp. during the second quarter valued at about $211,000. Finally, Leavell Investment Management Inc. acquired a new stake in shares of Stryker Corp. during the second quarter valued at about $250,000. 75.49% of the stock is owned by institutional investors.
Stryker Corp. (NYSE:SYK) traded down 1.37% on Thursday, hitting $115.70. 662,057 shares of the company were exchanged. Stryker Corp. has a 52-week low of $86.68 and a 52-week high of $123.55. The stock has a market cap of $43.31 billion, a PE ratio of 27.27 and a beta of 0.71. The firm has a 50 day moving average of $114.73 and a 200-day moving average of $113.33.
Stryker Corp. (NYSE:SYK) last released its earnings results on Thursday, July 21st. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.37 by $0.02. Stryker Corp. had a net margin of 15.33% and a return on equity of 23.61%. The firm earned $2.84 billion during the quarter, compared to the consensus estimate of $2.79 billion. On average, equities analysts expect that Stryker Corp. will post $5.76 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be issued a $0.38 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.52 dividend on an annualized basis and a yield of 1.31%. Stryker Corp.’s payout ratio is 35.85%.
Several analysts recently issued reports on the stock. Jefferies Group reaffirmed a “hold” rating and set a $120.00 price objective (up previously from $113.00) on shares of Stryker Corp. in a research note on Monday, July 25th. Credit Suisse Group AG reiterated an “outperform” rating and issued a $124.00 target price (up from $110.00) on shares of Stryker Corp. in a report on Tuesday, July 19th. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $119.00 target price on shares of Stryker Corp. in a report on Friday, July 22nd. Brean Capital reiterated a “buy” rating and issued a $125.00 target price (up from $121.00) on shares of Stryker Corp. in a report on Monday, July 25th. Finally, Canaccord Genuity reiterated a “buy” rating and issued a $130.00 target price on shares of Stryker Corp. in a report on Sunday, July 24th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $114.91.
In other Stryker Corp. news, Director Ronda E. Stryker sold 6,000 shares of Stryker Corp. stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $116.68, for a total transaction of $700,080.00. Following the transaction, the director now directly owns 193,142 shares of the company’s stock, valued at $22,535,808.56. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Ronda E. Stryker sold 18,000 shares of Stryker Corp. stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $117.56, for a total transaction of $2,116,080.00. Following the transaction, the director now directly owns 193,142 shares in the company, valued at $22,705,773.52. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by corporate insiders.
About Stryker Corp.
Stryker Corporation (Stryker) is a medical technology company. The Company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Company’s Orthopaedics segment products consist of implants used in hip and knee joint replacements and trauma and surgeries. The Company’s MedSurg segment products consist of surgical equipment and surgical navigation systems (Instruments); endoscopic and communications systems (Endoscopy); patient handling and emergency medical equipment (Medical), and reprocessed and remanufactured medical devices (Sustainability), as well as other medical device products used in a range of medical specialties.
Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Corp. (NYSE:SYK).
Receive News & Ratings for Stryker Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stryker Corp. and related companies with MarketBeat.com's FREE daily email newsletter.