Stryker Corporation $SYK Shares Acquired by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System lifted its stake in shares of Stryker Corporation (NYSE:SYK) by 15.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,396 shares of the medical technology company’s stock after acquiring an additional 2,835 shares during the period. Maryland State Retirement & Pension System’s holdings in Stryker were worth $5,892,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. State Street Corp raised its stake in Stryker by 1.2% in the 2nd quarter. State Street Corp now owns 15,532,565 shares of the medical technology company’s stock valued at $4,903,772,000 after purchasing an additional 183,400 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Stryker by 0.6% during the 2nd quarter. Wellington Management Group LLP now owns 8,167,185 shares of the medical technology company’s stock worth $2,571,357,000 after purchasing an additional 45,478 shares during the last quarter. Bank of America Corp DE acquired a new stake in shares of Stryker during the 2nd quarter worth about $1,404,284,000. Royal Bank of Canada boosted its stake in shares of Stryker by 6.5% during the 1st quarter. Royal Bank of Canada now owns 3,273,232 shares of the medical technology company’s stock worth $1,075,552,000 after purchasing an additional 199,863 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Stryker by 21.8% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,689,376 shares of the medical technology company’s stock worth $846,723,000 after buying an additional 481,175 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Trading Down 2.1%

Shares of SYK opened at $312.17 on Friday. The stock’s fifty day simple moving average is $292.28 and its 200 day simple moving average is $322.83. Stryker Corporation has a twelve month low of $267.00 and a twelve month high of $389.33. The company has a current ratio of 2.18, a quick ratio of 1.30 and a debt-to-equity ratio of 0.60. The firm has a market capitalization of $118.84 billion, a P/E ratio of 33.24, a price-to-earnings-growth ratio of 2.19 and a beta of 0.78.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, October 29th. The medical technology company reported $3.52 EPS for the quarter, missing the consensus estimate of $3.55 by ($0.03). The firm had revenue of $6.52 billion for the quarter, compared to analyst estimates of $6.62 billion. Stryker had a return on equity of 23.74% and a net margin of 13.78%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.19 earnings per share. On average, equities research analysts forecast that Stryker Corporation will post 14.85 earnings per share for the current year.

Insider Activity at Stryker

In other news, insider Dylan Crotty sold 441 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $328.61, for a total value of $144,917.01. Following the completion of the sale, the insider owned 6,102 shares of the company’s stock, valued at $2,005,178.22. This represents a 6.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 550,000 shares of the company’s stock in a transaction on Friday, November 6th. The stock was sold at an average price of $325.32, for a total transaction of $178,926,000.00. Following the sale, the director directly owned 1,701,375 shares of the company’s stock, valued at approximately $553,491,315. This trade represents a 24.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 901,267 shares of company stock worth $297,123,701. Company insiders own 4.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on SYK shares. JPMorgan Chase & Co. reduced their price objective on shares of Stryker from $350.00 to $340.00 and set an “overweight” rating on the stock in a research note on Friday, October 30th. BTIG Research decreased their target price on shares of Stryker from $316.00 to $304.00 and set a “buy” rating on the stock in a research report on Friday, October 30th. Rothschild & Co Redburn lowered their target price on shares of Stryker from $360.00 to $336.00 in a research note on Monday, November 2nd. Sanford C. Bernstein reiterated a “market perform” rating on shares of Stryker in a report on Wednesday, October 7th. Finally, Citigroup reissued a “market outperform” rating on shares of Stryker in a research note on Friday, October 30th. Twenty-one research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $342.19.

Stryker Profile

Stryker is a medical technology company that develops and sells products and services for healthcare providers. Its offerings include orthopedic implants and surgical equipment, neurotechnology and spine products, and medical and surgical equipment used in hospitals and other care settings. The company’s products also include patient-handling and emergency medical equipment, as well as instruments and technologies that support surgical procedures. Stryker serves healthcare customers in the United States and internationally.