State of Tennessee Department of Treasury Trims Position in Stryker Co. (NYSE:SYK)

State of Tennessee Department of Treasury reduced its stake in shares of Stryker Co. (NYSE:SYK - Free Report) by 3.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 117,447 shares of the medical technology company's stock after selling 4,190 shares during the period. State of Tennessee Department of Treasury's holdings in Stryker were worth $42,287,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in SYK. J. W. Coons Advisors LLC lifted its stake in shares of Stryker by 0.7% in the 4th quarter. J. W. Coons Advisors LLC now owns 3,653 shares of the medical technology company's stock valued at $1,315,000 after acquiring an additional 26 shares during the last quarter. Mascoma Wealth Management LLC increased its stake in Stryker by 22.7% in the 4th quarter. Mascoma Wealth Management LLC now owns 146 shares of the medical technology company's stock worth $53,000 after purchasing an additional 27 shares during the period. Opal Wealth Advisors LLC lifted its position in Stryker by 1.6% in the fourth quarter. Opal Wealth Advisors LLC now owns 1,816 shares of the medical technology company's stock valued at $654,000 after purchasing an additional 28 shares during the last quarter. Lindbrook Capital LLC boosted its stake in shares of Stryker by 2.0% during the fourth quarter. Lindbrook Capital LLC now owns 1,407 shares of the medical technology company's stock valued at $507,000 after purchasing an additional 28 shares during the period. Finally, Alhambra Investment Management LLC grew its holdings in shares of Stryker by 1.5% in the fourth quarter. Alhambra Investment Management LLC now owns 1,997 shares of the medical technology company's stock worth $719,000 after purchasing an additional 29 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 201,392 shares of the business's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the transaction, the director now owns 3,642,075 shares in the company, valued at $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Allan C. Golston sold 2,458 shares of the company's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the transaction, the director now directly owns 14,895 shares in the company, valued at approximately $5,705,827.65. The trade was a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company's stock.

Stryker Stock Up 1.1 %

Shares of Stryker stock traded up $3.83 during midday trading on Thursday, hitting $360.94. The company had a trading volume of 1,349,722 shares, compared to its average volume of 1,356,479. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The stock has a market capitalization of $137.77 billion, a P/E ratio of 46.51, a P/E/G ratio of 2.93 and a beta of 0.93. The company has a 50 day moving average of $368.21 and a 200 day moving average of $373.06.

Stryker (NYSE:SYK - Get Free Report) last released its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping 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 previous year, the company earned $3.46 EPS. On average, equities analysts predict that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.84 per share. The ex-dividend date is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.93%. Stryker's dividend payout ratio is currently 43.30%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SYK. JPMorgan Chase & Co. increased their price target on shares of Stryker from $420.00 to $445.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Argus set a $450.00 target price on shares of Stryker in a report on Monday, February 3rd. Needham & Company LLC restated a "buy" rating and set a $442.00 price target on shares of Stryker in a report on Friday, March 21st. Barclays upped their price target on Stryker from $418.00 to $443.00 and gave the company an "overweight" rating in a research report on Monday, February 10th. Finally, Wells Fargo & Company lifted their price objective on Stryker from $427.00 to $435.00 and gave the stock an "overweight" rating in a research report on Wednesday, January 29th. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $423.53.

Stryker Company Profile

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.