Teachers Retirement System of The State of Kentucky Has $9.22 Million Stock Position in Stryker Co. (NYSE:SYK)

Teachers Retirement System of The State of Kentucky decreased its stake in shares of Stryker Co. (NYSE:SYK - Free Report) by 5.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 25,510 shares of the medical technology company's stock after selling 1,335 shares during the period. Teachers Retirement System of The State of Kentucky's holdings in Stryker were worth $9,216,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Dunhill Financial LLC increased its holdings in shares of Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company's stock valued at $27,000 after buying an additional 37 shares in the last quarter. Centennial Bank AR raised its position in shares of Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company's stock worth $32,000 after purchasing an additional 48 shares during the period. Darwin Wealth Management LLC purchased a new stake in shares of Stryker during the third quarter valued at $36,000. HBW Advisory Services LLC acquired a new position in shares of Stryker in the 3rd quarter valued at $42,000. Finally, Hara Capital LLC purchased a new position in Stryker in the 3rd quarter worth about $42,000. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Performance

Shares of NYSE:SYK traded down $0.31 during trading on Friday, reaching $374.75. The stock had a trading volume of 755,824 shares, compared to its average volume of 1,257,977. Stryker Co. has a 52 week low of $285.79 and a 52 week high of $398.20. The stock has a fifty day simple moving average of $372.88 and a two-hundred day simple moving average of $354.65. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $142.86 billion, a price-to-earnings ratio of 40.19, a P/E/G ratio of 2.84 and a beta of 0.94.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company had revenue of $5.49 billion during the quarter, compared to analysts' expectations of $5.37 billion. During the same period in the prior year, the company earned $2.46 earnings per share. The business's quarterly revenue was up 11.9% compared to the same quarter last year. As a group, analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be paid a $0.84 dividend. This is an increase from Stryker's previous quarterly dividend of $0.80. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.90%. Stryker's dividend payout ratio (DPR) is presently 34.30%.

Analysts Set New Price Targets

SYK has been the subject of a number of recent analyst reports. BTIG Research raised their price objective on shares of Stryker from $383.00 to $394.00 and gave the stock a "buy" rating in a research note on Wednesday, October 30th. Evercore ISI raised their target price on Stryker from $380.00 to $384.00 and gave the stock an "outperform" rating in a research report on Wednesday, October 30th. Truist Financial upped their price target on Stryker from $370.00 to $380.00 and gave the company a "hold" rating in a research report on Wednesday, October 30th. Morgan Stanley upgraded Stryker from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. Finally, Barclays lifted their target price on Stryker from $402.00 to $418.00 and gave the company an "overweight" rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $404.35.

Insider Buying and Selling

In related news, VP M Kathryn Fink sold 7,347 shares of the firm's stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the transaction, the vice president now directly owns 10,042 shares of the company's stock, valued at $3,685,213.16. This trade represents a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kevin Lobo sold 57,313 shares of the business's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by 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.