State of Alaska Department of Revenue Sells 965 Shares of Stryker Co. (NYSE:SYK)

State of Alaska Department of Revenue decreased its stake in shares of Stryker Co. (NYSE:SYK) by 2.4% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 39,863 shares of the medical technology company’s stock after selling 965 shares during the quarter. State of Alaska Department of Revenue’s holdings in Stryker were worth $14,265,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of SYK. Burkett Financial Services LLC purchased a new stake in shares of Stryker in the fourth quarter valued at $25,000. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in Stryker by 203.3% in the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after buying an additional 61 shares during the period. Rogco LP purchased a new position in Stryker in the 4th quarter worth about $30,000. DSM Capital Partners LLC purchased a new position in Stryker in the 4th quarter worth about $34,000. Finally, HBC Financial Services PLLC purchased a new position in Stryker in the 4th quarter worth about $37,000. Institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

Shares of NYSE SYK opened at $332.07 on Thursday. The firm has a market cap of $126.50 billion, a PE ratio of 37.91, a PEG ratio of 2.63 and a beta of 0.89. The firm has a fifty day moving average of $337.55 and a 200 day moving average of $334.50. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.71. Stryker Co. has a one year low of $249.98 and a one year high of $361.41.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. The company had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.14 EPS. As a group, research analysts predict that Stryker Co. will post 11.95 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.96%. The ex-dividend date of this dividend is Friday, June 28th. Stryker’s payout ratio is presently 36.53%.

Wall Street Analyst Weigh In

SYK has been the topic of a number of research reports. Piper Sandler raised their target price on shares of Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Robert W. Baird lifted their target price on shares of Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 1st. StockNews.com cut shares of Stryker from a “buy” rating to a “hold” rating in a research note on Wednesday. BTIG Research lifted their price objective on shares of Stryker from $366.00 to $369.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Finally, Needham & Company LLC upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $392.00 price objective for the company in a research note on Wednesday, May 22nd. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and an average target price of $370.32.

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.