Retirement Systems of Alabama raised its stake in Stryker Corp. (NYSE:SYK) by 47.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 235,926 shares of the medical technology company’s stock after buying an additional 75,772 shares during the period. Retirement Systems of Alabama owned about 0.06% of Stryker Corp. worth $27,464,000 as of its most recent SEC filing.
Several other large investors have also bought and sold shares of the company. First Republic Investment Management Inc. increased its stake in Stryker Corp. by 35.2% in the first quarter. First Republic Investment Management Inc. now owns 46,302 shares of the medical technology company’s stock valued at $4,968,000 after buying an additional 12,067 shares during the last quarter. First Financial Bank N.A. Trust Division boosted its position in Stryker Corp. by 2.5% in the second quarter. First Financial Bank N.A. Trust Division now owns 41,904 shares of the medical technology company’s stock valued at $5,021,000 after buying an additional 1,031 shares during the period. Baxter Bros Inc. purchased a new position in Stryker Corp. during the second quarter valued at $705,000. Capital Investment Services of America Inc. boosted its position in Stryker Corp. by 1.0% in the second quarter. Capital Investment Services of America Inc. now owns 98,875 shares of the medical technology company’s stock valued at $11,848,000 after buying an additional 1,020 shares during the period. Finally, Raymond James Trust N.A. boosted its position in Stryker Corp. by 5.4% in the second quarter. Raymond James Trust N.A. now owns 17,919 shares of the medical technology company’s stock valued at $2,147,000 after buying an additional 919 shares during the period. 74.90% of the stock is owned by institutional investors.
Shares of Stryker Corp. (NYSE:SYK) traded up 0.21% during trading on Monday, hitting $113.08. 662,485 shares of the stock were exchanged. Stryker Corp. has a 52-week low of $86.68 and a 52-week high of $123.55. The firm has a 50 day moving average of $113.60 and a 200-day moving average of $115.00. The stock has a market cap of $42.34 billion, a PE ratio of 25.74 and a beta of 0.86.
Stryker Corp. (NYSE:SYK) last posted its quarterly earnings data on Thursday, October 27th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.37 by $0.02. The company had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.81 billion. Stryker Corp. had a net margin of 15.24% and a return on equity of 23.61%. The firm’s revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.25 earnings per share. Equities research analysts anticipate that Stryker Corp. will post $5.78 earnings per share for the current fiscal year.
Several research analysts recently weighed in on SYK shares. SunTrust Banks Inc. started coverage on shares of Stryker Corp. in a report on Thursday, October 13th. They set a “buy” rating and a $140.00 price target on the stock. Zacks Investment Research cut shares of Stryker Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, September 27th. Needham & Company LLC restated a “hold” rating on shares of Stryker Corp. in a report on Sunday, November 13th. BMO Capital Markets upgraded shares of Stryker Corp. from an “underperform” rating to a “market perform” rating and set a $125.00 price target on the stock in a report on Tuesday, November 1st. They noted that the move was a valuation call. Finally, Canaccord Genuity set a $127.00 price target on shares of Stryker Corp. and gave the stock a “buy” rating in a report on Sunday, October 30th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company. Stryker Corp. has a consensus rating of “Buy” and a consensus target price of $122.38.
In related news, VP Yin C. Becker sold 1,111 shares of the firm’s stock in a transaction that occurred on Thursday, October 6th. The shares were sold at an average price of $117.00, for a total value of $129,987.00. Following the transaction, the vice president now owns 16,939 shares of the company’s stock, valued at $1,981,863. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Yin C. Becker sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 12th. The stock was sold at an average price of $114.03, for a total transaction of $1,368,360.00. Following the completion of the transaction, the vice president now directly owns 28,939 shares in the company, valued at approximately $3,299,914.17. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by corporate insiders.
About Stryker Corp.
Stryker Corporation (Stryker) is a medical technology company. The Company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Company’s Orthopaedics segment products consist of implants used in hip and knee joint replacements and trauma and surgeries. The Company’s MedSurg segment products consist of surgical equipment and surgical navigation systems (Instruments); endoscopic and communications systems (Endoscopy); patient handling and emergency medical equipment (Medical), and reprocessed and remanufactured medical devices (Sustainability), as well as other medical device products used in a range of medical specialties.