State of Alaska Department of Revenue Grows Stock Position in Stryker Corporation (NYSE:SYK)

State of Alaska Department of Revenue grew its position in Stryker Corporation (NYSE:SYK) by 2.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 40,243 shares of the medical technology company’s stock after acquiring an additional 1,125 shares during the quarter. State of Alaska Department of Revenue’s holdings in Stryker were worth $14,980,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. J. W. Coons Advisors LLC lifted its holdings 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 purchasing an additional 26 shares during the last quarter. Mascoma Wealth Management LLC lifted its holdings in shares of Stryker by 22.7% in the 4th quarter. Mascoma Wealth Management LLC now owns 146 shares of the medical technology company’s stock valued at $53,000 after purchasing an additional 27 shares during the last quarter. Lindbrook Capital LLC lifted its holdings in shares of Stryker by 2.0% in the 4th 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 last quarter. Capital & Planning LLC lifted its holdings in shares of Stryker by 3.6% in the 4th quarter. Capital & Planning LLC now owns 841 shares of the medical technology company’s stock valued at $304,000 after purchasing an additional 29 shares during the last quarter. Finally, JFS Wealth Advisors LLC lifted its holdings in shares of Stryker by 4.4% in the 4th quarter. JFS Wealth Advisors LLC now owns 687 shares of the medical technology company’s stock valued at $247,000 after purchasing an additional 29 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the transaction, the director now directly owns 3,417,326 shares of the company’s stock, valued at approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.20% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on SYK. Sanford C. Bernstein set a $450.00 price target on Stryker in a research report on Monday, May 5th. Evercore ISI dropped their target price on Stryker from $400.00 to $390.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Roth Mkm boosted their target price on Stryker from $405.00 to $456.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Needham & Company LLC reiterated a “buy” rating and set a $442.00 target price on shares of Stryker in a research report on Friday, March 21st. Finally, Truist Financial boosted their target price on Stryker from $390.00 to $400.00 and gave the stock a “hold” rating in a research report on Monday, May 5th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $427.30.

Stryker Price Performance

Shares of NYSE:SYK opened at $373.36 on Wednesday. Stryker Corporation has a one year low of $314.93 and a one year high of $406.19. The stock has a market cap of $142.51 billion, a PE ratio of 50.45, a price-to-earnings-growth ratio of 2.84 and a beta of 0.91. The business’s fifty day moving average price is $373.73 and its two-hundred day moving average price is $375.54. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.00 and a current ratio of 1.64.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.73 by $0.11. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. During the same quarter in the prior year, the company posted $2.50 EPS. The business’s revenue for the quarter was up 11.9% compared to the same quarter last year. On average, analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Monday, June 30th. Stryker’s dividend payout ratio (DPR) is currently 45.41%.

Stryker 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.