Teachers Retirement System of The State of Kentucky Sells 1,500 Shares of Stryker Co. (NYSE:SYK)


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Teachers Retirement System of The State of Kentucky cut its stake in Stryker Co. (NYSE:SYK) by 5.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,300 shares of the medical technology company’s stock after selling 1,500 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in Stryker were worth $6,690,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its stake in Stryker by 1.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,889,733 shares of the medical technology company’s stock worth $7,318,132,000 after purchasing an additional 364,668 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Stryker by 1.8% in the 4th quarter. Bank of New York Mellon Corp now owns 7,331,191 shares of the medical technology company’s stock worth $1,796,434,000 after purchasing an additional 129,597 shares in the last quarter. Fundsmith LLP boosted its stake in Stryker by 5.7% in the 4th quarter. Fundsmith LLP now owns 6,634,893 shares of the medical technology company’s stock worth $1,625,814,000 after purchasing an additional 357,755 shares in the last quarter. FMR LLC boosted its stake in Stryker by 246.1% in the 4th quarter. FMR LLC now owns 4,189,778 shares of the medical technology company’s stock worth $1,026,663,000 after purchasing an additional 2,979,131 shares in the last quarter. Finally, Norges Bank purchased a new position in Stryker during the 4th quarter worth approximately $811,698,000. Institutional investors own 71.46% of the company’s stock.

In other news, CFO Glenn S. Boehnlein sold 2,000 shares of the business’s stock in a transaction dated Monday, March 1st. The shares were sold at an average price of $246.01, for a total transaction of $492,020.00. Following the transaction, the chief financial officer now owns 12,321 shares of the company’s stock, valued at approximately $3,031,089.21. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 6.80% of the company’s stock.

Shares of SYK opened at $247.44 on Thursday. The firm’s fifty day moving average is $240.61 and its two-hundred day moving average is $231.99. The company has a quick ratio of 2.15, a current ratio of 2.89 and a debt-to-equity ratio of 0.92. The stock has a market cap of $93.12 billion, a PE ratio of 53.67, a price-to-earnings-growth ratio of 2.79 and a beta of 0.87. Stryker Co. has a 52-week low of $166.51 and a 52-week high of $250.02.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 26th. The medical technology company reported $2.81 earnings per share for the quarter, beating the consensus estimate of $2.55 by $0.26. The firm had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.33 billion. Stryker had a net margin of 12.35% and a return on equity of 20.94%. The company’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.49 EPS. As a group, research analysts anticipate that Stryker Co. will post 7.18 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, April 30th. Stockholders of record on Wednesday, March 31st will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Tuesday, March 30th. This represents a $2.52 annualized dividend and a dividend yield of 1.02%. Stryker’s payout ratio is 30.51%.

A number of research firms have issued reports on SYK. BTIG Research raised their price target on shares of Stryker from $234.00 to $252.00 and gave the stock a “buy” rating in a research report on Thursday, December 31st. Deutsche Bank Aktiengesellschaft raised their price target on shares of Stryker from $228.00 to $251.00 and gave the stock a “buy” rating in a research report on Thursday, January 28th. Morgan Stanley reduced their price target on shares of Stryker from $272.00 to $265.00 and set an “overweight” rating for the company in a research report on Thursday, January 28th. Credit Suisse Group cut their target price on shares of Stryker from $278.00 to $273.00 and set an “outperform” rating for the company in a report on Thursday, January 28th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Stryker from $245.00 to $265.00 and gave the company an “overweight” rating in a report on Tuesday, March 2nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $232.74.

About Stryker

Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical device products that are used in various medical specialties.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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