Virginia Retirement Systems ET AL lessened its holdings in shares of Stryker Co. (NYSE:SYK) by 7.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 81,700 shares of the medical technology company’s stock after selling 6,700 shares during the quarter. Virginia Retirement Systems ET AL’s holdings in Stryker were worth $21,220,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. RE Advisers Corp acquired a new stake in Stryker during the 2nd quarter worth $34,000. Magellan Asset Management Ltd purchased a new stake in Stryker during the first quarter worth about $35,000. Penserra Capital Management LLC purchased a new stake in Stryker during the second quarter worth about $36,000. Albion Financial Group UT purchased a new stake in Stryker during the second quarter worth about $37,000. Finally, Hanson & Doremus Investment Management increased its stake in Stryker by 25.3% during the second quarter. Hanson & Doremus Investment Management now owns 188 shares of the medical technology company’s stock worth $39,000 after purchasing an additional 38 shares during the period. 72.58% of the stock is currently owned by institutional investors.
NYSE:SYK traded up $4.79 during mid-day trading on Thursday, reaching $261.29. The company’s stock had a trading volume of 11,526 shares, compared to its average volume of 1,153,494. The company’s fifty day simple moving average is $268.65 and its two-hundred day simple moving average is $261.19. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.12 and a quick ratio of 1.32. Stryker Co. has a twelve month low of $196.09 and a twelve month high of $281.16. The stock has a market cap of $98.53 billion, a P/E ratio of 46.98, a P/E/G ratio of 3.08 and a beta of 0.98.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 29th. Shareholders of record on Thursday, September 30th will be issued a dividend of $0.63 per share. The ex-dividend date is Wednesday, September 29th. This represents a $2.52 annualized dividend and a yield of 0.96%. Stryker’s dividend payout ratio is presently 33.92%.
A number of analysts have issued reports on SYK shares. Zacks Investment Research lowered shares of Stryker from a “hold” rating to a “sell” rating and set a $286.00 price target on the stock. in a research note on Tuesday, September 28th. SVB Leerink upped their price target on Stryker from $290.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, July 28th. Needham & Company LLC reaffirmed a “hold” rating on shares of Stryker in a report on Wednesday, July 28th. Truist Securities increased their price objective on Stryker from $250.00 to $275.00 and gave the company a “hold” rating in a report on Wednesday, July 28th. Finally, Citigroup increased their price objective on Stryker from $303.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, July 28th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Stryker presently has a consensus rating of “Buy” and a consensus target price of $287.13.
In related news, VP Robert S. Fletcher sold 1,120 shares of the business’s stock in a transaction that occurred on Thursday, August 5th. The stock was sold at an average price of $261.10, for a total transaction of $292,432.00. Following the completion of the transaction, the vice president now owns 4,533 shares in the company, valued at approximately $1,183,566.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronda E. Stryker sold 150,000 shares of the company’s stock in a transaction on Friday, August 6th. The shares were sold at an average price of $262.26, for a total value of $39,339,000.00. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by insiders.
Stryker Corp. engages in the provision of medical technology products and services. It operates through the following segments: Orthopaedics, MedSurg, and Neurotechnology & Spine. The Orthopaedics segment provides reconstructive and trauma implant systems. The MedSurg segment deals with surgical equipment and navigation systems, endoscopy, patient handling and reprocessed medical devices.
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