State of Tennessee Department of Treasury Sells 4,190 Shares of Stryker Co. (NYSE:SYK)

State of Tennessee Department of Treasury trimmed its position in shares of Stryker Co. (NYSE:SYK) by 3.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 117,447 shares of the medical technology company’s stock after selling 4,190 shares during the quarter. State of Tennessee Department of Treasury’s holdings in Stryker were worth $42,287,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SYK. Norges Bank purchased a new position in Stryker during the 4th quarter valued at $1,710,744,000. Raymond James Financial Inc. bought a new position in Stryker in the 4th quarter worth about $353,394,000. FMR LLC increased its position in shares of Stryker by 10.0% during the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company’s stock worth $2,892,946,000 after acquiring an additional 727,850 shares during the period. Proficio Capital Partners LLC raised its stake in shares of 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 acquiring an additional 595,061 shares in the last quarter. Finally, APG Asset Management N.V. boosted its holdings in shares of Stryker by 1,695.0% in the fourth quarter. APG Asset Management N.V. now owns 370,226 shares of the medical technology company’s stock valued at $128,730,000 after purchasing an additional 349,601 shares during the period. Institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the sale, the director now directly owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction dated 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 owns 14,895 shares of the company’s stock, valued at $5,705,827.65. The trade was a 14.16 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. The Goldman Sachs Group set a $422.00 price objective on Stryker in a report on Tuesday, March 4th. Argus set a $450.00 target price on shares of Stryker in a research report on Monday, February 3rd. Canaccord Genuity Group upped their price target on shares of Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Finally, Royal Bank of Canada boosted their price objective on shares of Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $423.53.

Stryker Trading Down 1.9 %

Stryker stock opened at $339.96 on Tuesday. 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 cap of $129.76 billion, a PE ratio of 43.81, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93. The stock has a 50-day moving average of $370.04 and a two-hundred day moving average of $373.23. Stryker Co. has a one year low of $314.93 and a one year high of $406.19.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period last year, the company posted $3.46 earnings per share. On average, research analysts anticipate that Stryker Co. 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 Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s payout ratio is 43.30%.

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.