New Mexico Educational Retirement Board Sells 300 Shares of Stryker Corporation (NYSE:SYK)

New Mexico Educational Retirement Board cut its holdings in Stryker Corporation (NYSE:SYK) by 1.8% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,009 shares of the medical technology company’s stock after selling 300 shares during the quarter. New Mexico Educational Retirement Board’s holdings in Stryker were worth $5,959,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Elefante Mark B acquired a new stake in Stryker in the fourth quarter valued at approximately $337,000. Mogy Joel R Investment Counsel Inc. lifted its stake in Stryker by 3.4% in the first quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company’s stock valued at $36,561,000 after acquiring an additional 3,218 shares during the last quarter. Ferguson Wellman Capital Management Inc. lifted its stake in Stryker by 1.9% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company’s stock valued at $65,096,000 after acquiring an additional 3,341 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new stake in Stryker in the first quarter valued at approximately $1,840,000. Finally, Fred Alger Management LLC lifted its stake in Stryker by 415.8% in the fourth quarter. Fred Alger Management LLC now owns 24,011 shares of the medical technology company’s stock valued at $8,664,000 after acquiring an additional 19,356 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Trading Down 0.7%

Shares of Stryker stock opened at $389.65 on Wednesday. The firm has a market capitalization of $148.73 billion, a PE ratio of 52.66, a price-to-earnings-growth ratio of 2.96 and a beta of 0.91. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00. The company’s fifty day moving average price is $383.81 and its two-hundred day moving average price is $376.67. Stryker Corporation has a 52-week low of $314.93 and a 52-week high of $406.19.

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

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. Stryker’s dividend payout ratio is presently 45.41%.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the transaction, the director owned 3,417,326 shares in the company, valued at $1,288,195,208.96. This represents a 5.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 5.20% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on SYK shares. Evercore ISI lifted their target price on shares of Stryker from $390.00 to $415.00 and gave the company an “outperform” rating in a research note on Tuesday. Needham & Company LLC restated a “buy” rating and issued a $442.00 price objective on shares of Stryker in a research note on Friday, March 21st. Citigroup restated a “buy” rating and issued a $455.00 price objective (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Wall Street Zen cut shares of Stryker from a “buy” rating to a “hold” rating in a research note on Friday, June 27th. Finally, JMP Securities restated a “market perform” rating on shares of Stryker in a research note on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $428.55.

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.