Stryker Co. (NYSE:SYK) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue lessened its position in shares of Stryker Co. (NYSE:SYK) by 2.4% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 39,863 shares of the medical technology company’s stock after selling 965 shares during the quarter. State of Alaska Department of Revenue’s holdings in Stryker were worth $14,265,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Burkett Financial Services LLC acquired a new position in shares of Stryker during the 4th quarter worth $25,000. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in shares of Stryker by 203.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after buying an additional 61 shares during the last quarter. Rogco LP acquired a new position in Stryker in the 4th quarter valued at about $30,000. DSM Capital Partners LLC acquired a new position in Stryker in the 4th quarter valued at about $34,000. Finally, HBC Financial Services PLLC acquired a new position in Stryker in the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analyst Ratings Changes

SYK has been the subject of several analyst reports. Evercore ISI cut their target price on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a research note on Tuesday. The Goldman Sachs Group initiated coverage on shares of Stryker in a research note on Thursday, May 30th. They issued a “neutral” rating and a $372.00 target price for the company. Citigroup boosted their target price on shares of Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. BTIG Research boosted their target price on shares of Stryker from $366.00 to $369.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, Robert W. Baird lifted their price target on Stryker from $367.00 to $378.00 and gave the company an “outperform” rating in a report on Wednesday, May 1st. Five investment 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, Stryker presently has a consensus rating of “Moderate Buy” and a consensus price target of $370.32.

Stryker Stock Down 0.7 %

Shares of NYSE:SYK opened at $332.07 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.71. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $361.41. The stock has a market capitalization of $126.50 billion, a P/E ratio of 37.91, a PEG ratio of 2.63 and a beta of 0.89. The stock has a 50-day simple moving average of $337.55 and a 200-day simple moving average of $334.50.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same quarter in the previous year, the business earned $2.14 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities analysts forecast that Stryker Co. will post 11.95 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Friday, June 28th. Stryker’s dividend payout ratio is presently 36.53%.

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.