Stryker Co. (NYSE:SYK) Shares Purchased by California Public Employees Retirement System

California Public Employees Retirement System raised its stake in Stryker Co. (NYSE:SYK - Free Report) by 21.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 805,102 shares of the medical technology company's stock after acquiring an additional 143,237 shares during the period. California Public Employees Retirement System owned approximately 0.21% of Stryker worth $289,877,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new position in Stryker during the 4th quarter valued at approximately $1,710,744,000. Raymond James Financial Inc. bought a new stake in Stryker in the fourth quarter worth $353,394,000. Proficio Capital Partners LLC raised its stake in Stryker by 52,520.8% during the fourth quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company's stock valued at $214,660,000 after purchasing an additional 595,061 shares in the last quarter. RTW Investments LP purchased a new position in shares of Stryker in the 3rd quarter worth $143,392,000. Finally, State Street Corp increased its holdings in shares of Stryker by 2.2% in the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company's stock worth $5,279,788,000 after buying an additional 316,404 shares during the last quarter. Institutional investors own 77.09% of the company's stock.

Insider Activity at Stryker

In other news, Director Allan C. Golston sold 2,458 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the sale, the director now owns 14,895 shares of the company's stock, valued at approximately $5,705,827.65. This represents a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of the company's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the sale, the director now directly owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.50% of the stock is owned by insiders.

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Stryker Price Performance

SYK stock traded down $7.74 during mid-day trading on Thursday, reaching $369.72. The company's stock had a trading volume of 1,634,122 shares, compared to its average volume of 1,298,322. The stock has a market cap of $141.12 billion, a PE ratio of 47.64, a P/E/G ratio of 2.93 and a beta of 0.95. The company's 50 day moving average is $383.16 and its two-hundred day moving average is $374.45. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating analysts' consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same period in the prior year, the company earned $3.46 EPS. Equities research analysts expect that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.91%. Stryker's payout ratio is currently 43.30%.

Analysts Set New Price Targets

Several analysts recently weighed in on SYK shares. Wells Fargo & Company increased their price target on Stryker from $427.00 to $435.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. StockNews.com lowered shares of Stryker from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. 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 research report on Thursday, January 30th. Citigroup reiterated a "buy" rating and set a $450.00 price objective on shares of Stryker in a research note on Wednesday, February 26th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $442.00 price target on shares of Stryker in a report on Friday, March 21st. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $421.90.

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.