Treasurer of the State of North Carolina Boosts Stock Position in Stryker Co. (NYSE:SYK)

Treasurer of the State of North Carolina boosted its holdings in shares of Stryker Co. (NYSE:SYKFree Report) by 1.4% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 162,673 shares of the medical technology company’s stock after purchasing an additional 2,180 shares during the quarter. Treasurer of the State of North Carolina’s holdings in Stryker were worth $48,714,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Norges Bank acquired a new position in shares of Stryker in the 4th quarter worth approximately $1,260,562,000. Magellan Asset Management Ltd grew its position in shares of Stryker by 74,911.8% in the 3rd quarter. Magellan Asset Management Ltd now owns 680,357 shares of the medical technology company’s stock worth $185,921,000 after acquiring an additional 679,450 shares in the last quarter. Barclays PLC grew its position in shares of Stryker by 103.5% in the 3rd quarter. Barclays PLC now owns 1,084,987 shares of the medical technology company’s stock worth $296,493,000 after acquiring an additional 551,798 shares in the last quarter. Morgan Stanley grew its position in shares of Stryker by 4.4% in the 3rd quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock worth $1,452,493,000 after acquiring an additional 223,728 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Stryker by 24.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,115,955 shares of the medical technology company’s stock worth $304,957,000 after acquiring an additional 217,672 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Stock Up 0.5 %

Shares of SYK stock traded up $1.83 on Wednesday, reaching $341.14. 1,866,731 shares of the company’s stock traded hands, compared to its average volume of 1,341,763. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $361.41. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.71. The company has a market capitalization of $129.96 billion, a P/E ratio of 39.16, a price-to-earnings-growth ratio of 2.64 and a beta of 0.91. The business’s 50 day moving average price is $339.12 and its two-hundred day moving average price is $325.44.

Stryker (NYSE:SYKGet Free Report) last issued its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter in the previous year, the company posted $2.14 earnings per share. Stryker’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, equities analysts forecast that Stryker Co. will post 11.95 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a dividend of $0.80 per share. The ex-dividend date is Friday, June 28th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.94%. Stryker’s dividend payout ratio is 36.53%.

Insider Activity

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the transaction, the chief accounting officer now owns 3,675 shares in the company, valued at $1,317,414. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.50% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on SYK. TD Cowen boosted their price objective on Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a research report on Thursday, April 11th. Barclays lifted their target price on Stryker from $372.00 to $376.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Citigroup lifted their target price on Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Royal Bank of Canada lifted their target price on Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Finally, Roth Mkm lifted their target price on Stryker from $348.00 to $405.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Three equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $370.50.

Get Our Latest Report on SYK

Stryker Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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