Maryland State Retirement & Pension System Boosts Position in Stryker Co. (NYSE:SYK)

Maryland State Retirement & Pension System raised its stake in Stryker Co. (NYSE:SYK) by 1.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 27,656 shares of the medical technology company’s stock after purchasing an additional 294 shares during the period. Maryland State Retirement & Pension System’s holdings in Stryker were worth $8,282,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bremer Bank National Association lifted its position in Stryker by 4.0% in the fourth quarter. Bremer Bank National Association now owns 888 shares of the medical technology company’s stock valued at $266,000 after acquiring an additional 34 shares during the last quarter. Simon Quick Advisors LLC boosted its position in shares of Stryker by 3.0% in the 4th quarter. Simon Quick Advisors LLC now owns 1,158 shares of the medical technology company’s stock valued at $347,000 after purchasing an additional 34 shares during the period. Consolidated Portfolio Review Corp grew its stake in Stryker by 3.6% during the 4th quarter. Consolidated Portfolio Review Corp now owns 983 shares of the medical technology company’s stock worth $294,000 after buying an additional 34 shares during the last quarter. FourThought Financial Partners LLC increased its position in Stryker by 3.3% during the fourth quarter. FourThought Financial Partners LLC now owns 1,076 shares of the medical technology company’s stock worth $322,000 after buying an additional 34 shares during the period. Finally, MBL Wealth LLC lifted its stake in Stryker by 4.6% in the fourth quarter. MBL Wealth LLC now owns 850 shares of the medical technology company’s stock valued at $255,000 after buying an additional 37 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Price Performance

SYK stock traded down $2.95 on Monday, reaching $325.50. 1,717,320 shares of the company’s stock were exchanged, compared to its average volume of 1,332,753. The stock has a fifty day moving average of $346.45 and a 200-day moving average of $318.37. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41. The firm has a market cap of $124.00 billion, a PE ratio of 37.16, a P/E/G ratio of 2.56 and a beta of 0.91. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.14. The company had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. Stryker’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.14 earnings per share. As a group, equities analysts predict that Stryker Co. will post 11.94 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.98%. The ex-dividend date was Wednesday, March 27th. Stryker’s dividend payout ratio (DPR) is 36.53%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on SYK. Piper Sandler raised their target price on shares of Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and upped their target price for the company from $315.00 to $360.00 in a report on Wednesday, January 31st. Truist Financial raised their price target on Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a report on Wednesday, January 31st. Evercore ISI upped their price objective on Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Finally, Royal Bank of Canada lifted their target price on Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $365.94.

Insider Buying and Selling at Stryker

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at $1,317,414. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 5.50% of the stock is owned by corporate insiders.

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.