State of New Jersey Common Pension Fund D Has $44.34 Million Position in Stryker Corporation $SYK

State of New Jersey Common Pension Fund D lifted its holdings in Stryker Corporation (NYSE:SYK) by 4.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 119,935 shares of the medical technology company’s stock after acquiring an additional 4,595 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Stryker were worth $44,336,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in SYK. Princeton Global Asset Management LLC lifted its stake in Stryker by 16.9% in the second quarter. Princeton Global Asset Management LLC now owns 180 shares of the medical technology company’s stock valued at $71,000 after buying an additional 26 shares during the period. Kovack Advisors Inc. increased its stake in Stryker by 3.6% in the second quarter. Kovack Advisors Inc. now owns 771 shares of the medical technology company’s stock valued at $305,000 after purchasing an additional 27 shares in the last quarter. Armstrong Advisory Group Inc. raised its holdings in shares of Stryker by 12.3% during the third quarter. Armstrong Advisory Group Inc. now owns 247 shares of the medical technology company’s stock valued at $91,000 after purchasing an additional 27 shares during the period. Venturi Wealth Management LLC boosted its position in shares of Stryker by 1.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,904 shares of the medical technology company’s stock worth $704,000 after purchasing an additional 27 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC grew its stake in shares of Stryker by 3.9% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 745 shares of the medical technology company’s stock valued at $275,000 after buying an additional 28 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Needham & Company LLC increased their price target on Stryker from $448.00 to $454.00 and gave the stock a “buy” rating in a report on Friday, January 30th. TD Cowen cut Stryker from a “buy” rating to a “hold” rating and set a $387.00 target price on the stock. in a report on Monday, January 26th. Piper Sandler restated an “overweight” rating on shares of Stryker in a research note on Tuesday, January 27th. Truist Financial decreased their target price on shares of Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a research report on Thursday, December 18th. Finally, BTIG Research lifted their price target on Stryker from $410.00 to $412.00 and gave the company a “buy” rating in a research note on Friday, January 30th. Twelve analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Stryker has an average rating of “Moderate Buy” and a consensus price target of $426.94.

Stryker Stock Up 0.0%

SYK opened at $366.02 on Friday. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $404.87. The firm has a market capitalization of $140.07 billion, a P/E ratio of 43.57, a PEG ratio of 2.14 and a beta of 0.87. The company’s 50-day moving average is $358.00 and its 200 day moving average is $369.35. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.40 by $0.07. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The business had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $7.12 billion. During the same period in the prior year, the firm posted $4.01 EPS. The firm’s quarterly revenue was up 11.4% compared to the same quarter last year. Research analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be given a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.52 annualized dividend and a yield of 1.0%. Stryker’s payout ratio is currently 41.90%.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of the firm’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the sale, the director directly owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. This trade represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Preston Wendell Wells sold 165 shares of Stryker stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $365.88, for a total transaction of $60,370.20. Following the completion of the transaction, the chief financial officer owned 6,694 shares of the company’s stock, valued at $2,449,200.72. This represents a 2.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 5.90% of the stock is owned by corporate insiders.

Stryker Company 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.