Teacher Retirement System of Texas Trims Stock Position in Stryker Corporation $SYK

Teacher Retirement System of Texas lowered its position in shares of Stryker Corporation (NYSE:SYK) by 4.1% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 173,901 shares of the medical technology company’s stock after selling 7,345 shares during the period. Teacher Retirement System of Texas’ holdings in Stryker were worth $64,286,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Mid American Wealth Advisory Group Inc. purchased a new stake in Stryker in the second quarter valued at approximately $26,000. Clayton Financial Group LLC purchased a new stake in Stryker in the 3rd quarter valued at $26,000. Elevation Point Wealth Partners LLC acquired a new stake in Stryker during the 2nd quarter worth $28,000. Sachetta LLC grew its position in Stryker by 58.7% during the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock worth $29,000 after purchasing an additional 27 shares during the last quarter. Finally, Kilter Group LLC acquired a new position in Stryker in the second quarter valued at $29,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Stryker

In related news, CAO William E. Berry, Jr. sold 1,953 shares of Stryker stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $365.49, for a total transaction of $713,801.97. Following the completion of the transaction, the chief accounting officer directly owned 2,833 shares in the company, valued at $1,035,433.17. The trade was a 40.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Preston Wendell Wells sold 165 shares of the stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $365.88, for a total value of $60,370.20. Following the sale, the chief financial officer owned 6,694 shares in the company, valued at approximately $2,449,200.72. This trade represents a 2.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 522,118 shares of company stock valued at $185,381,932 in the last ninety days. Corporate insiders own 5.90% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on SYK. UBS Group set a $408.00 price target on Stryker in a report on Monday, October 13th. Weiss Ratings reissued a “hold (c+)” rating on shares of Stryker in a report on Monday, December 22nd. Sanford C. Bernstein lifted their price objective on shares of Stryker from $450.00 to $465.00 and gave the company an “outperform” rating in a research report on Friday, January 9th. Barclays boosted their price objective on shares of Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Finally, Citigroup reduced their target price on shares of Stryker from $455.00 to $420.00 and set a “buy” rating for the company in a research note on Thursday, December 11th. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $430.00.

Stryker Price Performance

Shares of NYSE:SYK opened at $358.68 on Friday. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. The firm has a market capitalization of $137.17 billion, a price-to-earnings ratio of 47.13, a price-to-earnings-growth ratio of 2.33 and a beta of 0.89. The business’s 50 day simple moving average is $359.92 and its 200-day simple moving average is $373.19. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.85 and a quick ratio of 1.13.

Stryker (NYSE:SYK) last posted its earnings results on Friday, October 31st. The medical technology company reported $3.19 EPS for the quarter, topping analysts’ consensus estimates of $3.13 by $0.06. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $6.04 billion. Stryker had a return on equity of 24.07% and a net margin of 12.07%.Stryker’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.87 earnings per share. As a group, equities analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be given a $0.88 dividend. This is a boost from Stryker’s previous quarterly dividend of $0.84. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, December 31st. Stryker’s dividend payout ratio (DPR) is currently 46.25%.

Stryker Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.