Employees Retirement System of Texas raised its holdings in shares of Stryker Co. (NYSE:SYK) by 275.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 60,000 shares of the medical technology company’s stock after purchasing an additional 44,000 shares during the quarter. Employees Retirement System of Texas’ holdings in Stryker were worth $9,290,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of SYK. Koch Industries Inc. lifted its position in shares of Stryker by 34,120.3% in the 2nd quarter. Koch Industries Inc. now owns 1,260,675 shares of the medical technology company’s stock valued at $1,252,000 after acquiring an additional 1,256,991 shares in the last quarter. APG Asset Management N.V. lifted its position in shares of Stryker by 117.1% in the 3rd quarter. APG Asset Management N.V. now owns 583,736 shares of the medical technology company’s stock valued at $82,902,000 after acquiring an additional 314,800 shares in the last quarter. Pictet Asset Management Ltd. lifted its position in shares of Stryker by 25.4% in the 3rd quarter. Pictet Asset Management Ltd. now owns 1,286,239 shares of the medical technology company’s stock valued at $182,672,000 after acquiring an additional 260,502 shares in the last quarter. Jensen Investment Management Inc. lifted its position in shares of Stryker by 11.3% in the 3rd quarter. Jensen Investment Management Inc. now owns 2,472,476 shares of the medical technology company’s stock valued at $351,141,000 after acquiring an additional 251,685 shares in the last quarter. Finally, Ardevora Asset Management LLP purchased a new stake in shares of Stryker in the 3rd quarter valued at approximately $34,568,000. Institutional investors and hedge funds own 74.49% of the company’s stock.
SYK has been the subject of several research analyst reports. Wells Fargo & Co upped their price target on shares of Stryker from $160.00 to $166.00 in a research report on Friday, October 27th. SunTrust Banks restated a “buy” rating and issued a $161.00 price target on shares of Stryker in a research report on Friday, November 17th. Cowen set a $166.00 price target on shares of Stryker and gave the company a “buy” rating in a research report on Sunday, October 29th. ValuEngine upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, November 14th. Finally, Canaccord Genuity upped their price target on shares of Stryker from $155.00 to $162.00 and gave the company a “buy” rating in a research report on Friday, October 27th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have assigned a buy rating to the company. Stryker has an average rating of “Hold” and an average target price of $162.50.
Shares of Stryker Co. (SYK) opened at $157.88 on Thursday. The stock has a market cap of $59,470.67, a P/E ratio of 24.46, a price-to-earnings-growth ratio of 2.28 and a beta of 0.70. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.29 and a quick ratio of 1.59. Stryker Co. has a 12-month low of $126.84 and a 12-month high of $170.00.
Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $1.96 earnings per share for the quarter, beating analysts’ consensus estimates of $1.95 by $0.01. The business had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.42 billion. Stryker had a net margin of 8.20% and a return on equity of 24.56%. Stryker’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.78 EPS. equities analysts expect that Stryker Co. will post 7.12 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Thursday, March 29th will be issued a dividend of $0.47 per share. The ex-dividend date is Wednesday, March 28th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.19%. Stryker’s dividend payout ratio is currently 70.15%.
In other news, insider Graham A. Mclean sold 2,984 shares of the firm’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $160.53, for a total transaction of $479,021.52. Following the transaction, the insider now owns 9,100 shares in the company, valued at approximately $1,460,823. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Howard E. Cox, Jr. sold 7,400 shares of the firm’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $164.09, for a total transaction of $1,214,266.00. The disclosure for this sale can be found here. Insiders have sold a total of 16,840 shares of company stock worth $2,749,989 in the last 90 days. 7.40% of the stock is owned by insiders.
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Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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