California State Teachers Retirement System decreased its stake in shares of Stryker Co. (NYSE:SYK) by 1.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 566,685 shares of the medical technology company’s stock after selling 7,962 shares during the period. California State Teachers Retirement System owned about 0.15% of Stryker worth $87,746,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Truewealth LLC bought a new position in Stryker during the fourth quarter valued at approximately $110,000. Sawyer & Company Inc bought a new position in Stryker during the fourth quarter valued at approximately $125,000. Sit Investment Associates Inc. lifted its position in Stryker by 114.3% during the fourth quarter. Sit Investment Associates Inc. now owns 825 shares of the medical technology company’s stock valued at $128,000 after purchasing an additional 440 shares during the period. Virtue Capital Management LLC bought a new position in Stryker during the fourth quarter valued at approximately $133,000. Finally, Oak Point Wealth Management bought a new position in Stryker during the fourth quarter valued at approximately $145,000. Institutional investors own 75.71% of the company’s stock.
Shares of Stryker Co. (NYSE:SYK) opened at $167.89 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.29 and a quick ratio of 1.59. The stock has a market cap of $62,900.00, a price-to-earnings ratio of 34.26, a PEG ratio of 2.39 and a beta of 0.70. Stryker Co. has a 52 week low of $129.29 and a 52 week high of $170.00.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Thursday, March 29th will be paid a $0.47 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.12%. Stryker’s dividend payout ratio (DPR) is presently 38.37%.
SYK has been the topic of a number of research analyst reports. JPMorgan Chase & Co. upgraded shares of Stryker from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 2nd. Zacks Investment Research downgraded shares of Stryker from a “hold” rating to a “sell” rating in a research report on Saturday, January 20th. Robert W. Baird upgraded shares of Stryker from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $161.00 to $173.00 in a research report on Thursday, November 16th. BMO Capital Markets upgraded shares of Stryker to a “market perform” rating and set a $163.00 price objective on the stock in a research report on Tuesday, December 12th. Finally, Cantor Fitzgerald restated a “neutral” rating and set a $163.00 price objective on shares of Stryker in a research report on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $163.85.
In other news, VP William E. Berry, Jr. sold 1,306 shares of the stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $164.42, for a total value of $214,732.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Yin C. Becker sold 23,221 shares of the stock in a transaction on Friday, March 9th. The stock was sold at an average price of $165.96, for a total transaction of $3,853,757.16. Following the completion of the sale, the vice president now directly owns 10,499 shares of the company’s stock, valued at $1,742,414.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,611 shares of company stock valued at $7,178,719. Corporate insiders own 7.40% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: This piece was originally posted by American Banking News and is the property of of American Banking News. If you are viewing this piece on another publication, it was illegally stolen and republished in violation of US and international copyright & trademark legislation. The correct version of this piece can be read at https://www.americanbankingnews.com/2018/03/13/stryker-co-syk-shares-sold-by-california-state-teachers-retirement-system.html.
Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Co. (NYSE:SYK).
Receive News & Ratings for Stryker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stryker and related companies with MarketBeat.com's FREE daily email newsletter.