State of Alaska Department of Revenue Sells 1,725 Shares of Stryker Co. (NYSE:SYK)

State of Alaska Department of Revenue reduced its stake in shares of Stryker Co. (NYSE:SYK) by 4.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 39,118 shares of the medical technology company’s stock after selling 1,725 shares during the period. State of Alaska Department of Revenue’s holdings in Stryker were worth $14,084,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Dunhill Financial LLC increased its position in shares of Stryker by 94.9% during the 3rd 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 bought a new position in Stryker during the third quarter valued at approximately $36,000. Crews Bank & Trust bought a new stake in shares of Stryker in the 4th quarter worth approximately $39,000. Hara Capital LLC purchased a new stake in shares of Stryker in the 3rd quarter valued at $42,000. Finally, Grove Bank & Trust grew its holdings in shares of Stryker by 84.8% during the 3rd 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. Institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on SYK. Canaccord Genuity Group upped their price target on shares of Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. JMP Securities restated a “market perform” rating on shares of Stryker in a research report on Tuesday, January 7th. JPMorgan Chase & Co. boosted their price objective on Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Truist Financial raised their target price on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Finally, UBS Group upped their price target on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $419.37.

Insider Activity

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 transaction of $78,993,998.08. Following the completion of the sale, the director now 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.50% of the company’s stock.

Stryker Stock Up 1.7 %

Shares of Stryker stock opened at $399.01 on Thursday. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The company has a 50-day moving average of $376.87 and a 200 day moving average of $364.00. The firm has a market cap of $152.11 billion, a price-to-earnings ratio of 51.42, a PEG ratio of 2.78 and a beta of 0.96.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter last year, the business earned $3.46 earnings per share. As a group, sell-side analysts anticipate that Stryker Co. will post 13.5 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders 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 dividend yield of 0.84%. Stryker’s dividend payout ratio is currently 43.30%.

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.