Maryland State Retirement & Pension System Has $8.28 Million Stock Holdings in Stryker Co. (NYSE:SYK)

Maryland State Retirement & Pension System increased its holdings in shares of Stryker Co. (NYSE:SYK) by 1.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 27,656 shares of the medical technology company’s stock after purchasing an additional 294 shares during the period. Maryland State Retirement & Pension System’s holdings in Stryker were worth $8,282,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in Stryker by 0.5% during the third quarter. Vanguard Group Inc. now owns 30,665,520 shares of the medical technology company’s stock valued at $8,379,967,000 after acquiring an additional 143,631 shares during the period. FMR LLC increased its stake in Stryker by 2.5% during the third quarter. FMR LLC now owns 5,972,582 shares of the medical technology company’s stock valued at $1,632,127,000 after acquiring an additional 144,208 shares during the period. Morgan Stanley increased its stake in Stryker by 4.4% during the third quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock valued at $1,452,493,000 after acquiring an additional 223,728 shares during the period. Fisher Asset Management LLC increased its stake in Stryker by 2.6% during the fourth quarter. Fisher Asset Management LLC now owns 4,042,317 shares of the medical technology company’s stock valued at $1,210,512,000 after acquiring an additional 103,326 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Stryker by 3.9% in the 3rd quarter. Northern Trust Corp now owns 3,505,595 shares of the medical technology company’s stock valued at $957,974,000 after purchasing an additional 131,590 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on SYK. Robert W. Baird upped their price objective on Stryker from $367.00 to $378.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Truist Financial upped their price objective on Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a research note on Wednesday, January 31st. Roth Mkm upped their price objective on Stryker from $348.00 to $405.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Citigroup upped their price objective on Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Finally, StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Four research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $365.94.

Stryker Trading Down 0.9 %

NYSE:SYK traded down $2.95 during trading hours on Monday, hitting $325.50. 1,717,320 shares of the stock were exchanged, compared to its average volume of 1,332,753. The company’s 50 day moving average is $346.45 and its two-hundred day moving average is $318.37. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $124.00 billion, a P/E ratio of 37.16, a price-to-earnings-growth ratio of 2.56 and a beta of 0.91.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. The firm had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.14 EPS. On average, sell-side analysts anticipate that Stryker Co. will post 11.94 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.98%. The ex-dividend date was Wednesday, March 27th. Stryker’s dividend payout ratio (DPR) is currently 36.53%.

Insider Activity

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction on 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 of the company’s stock, valued at approximately $1,317,414. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.50% of the stock is currently owned by company insiders.

Stryker Company 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.