Kentucky Retirement Systems Has $8.69 Million Stock Holdings in Stryker Co. (NYSE:SYK)

Kentucky Retirement Systems reduced its stake in Stryker Co. (NYSE:SYK) by 0.5% during the 2nd quarter, Holdings Channel.com reports. The firm owned 25,549 shares of the medical technology company’s stock after selling 131 shares during the period. Kentucky Retirement Systems’ holdings in Stryker were worth $8,693,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the stock. Global Assets Advisory LLC acquired a new stake in Stryker during the first quarter worth approximately $341,049,000. JPMorgan Chase & Co. lifted its holdings in Stryker by 10.4% during the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock worth $3,096,078,000 after purchasing an additional 813,311 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Stryker by 5.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after purchasing an additional 642,178 shares during the period. 1832 Asset Management L.P. grew its holdings in Stryker by 146.9% in the 1st quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock valued at $314,449,000 after buying an additional 522,817 shares in the last quarter. Finally, American Century Companies Inc. increased its position in Stryker by 287.6% during the 2nd quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock worth $172,033,000 after buying an additional 375,166 shares during the period. 77.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

SYK has been the topic of several research reports. Royal Bank of Canada restated an “outperform” rating and issued a $386.00 price target on shares of Stryker in a research note on Wednesday, July 31st. StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a research report on Monday. Truist Financial dropped their price target on shares of Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Evercore ISI reduced their price target on Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a research report on Tuesday, July 2nd. Finally, Needham & Company LLC lifted their price objective on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a report on Thursday, August 1st. 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, Stryker presently has a consensus rating of “Moderate Buy” and a consensus target price of $378.58.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the transaction, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. The disclosure for this sale can be found here. Insiders sold a total of 220,068 shares of company stock valued at $71,811,372 in the last three months. Insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Shares of Stryker stock opened at $361.29 on Thursday. The company’s 50 day moving average price is $344.08 and its two-hundred day moving average price is $342.74. The firm has a market capitalization of $137.68 billion, a P/E ratio of 41.24, a P/E/G ratio of 2.87 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $374.63.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same period last year, the firm posted $2.54 earnings per share. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, equities analysts forecast that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.89%. Stryker’s dividend payout ratio is 36.53%.

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.