Maryland State Retirement & Pension System Acquires 316 Shares of Stryker Co. (NYSE:SYK)

Maryland State Retirement & Pension System raised its holdings in Stryker Co. (NYSE:SYK) by 1.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 28,208 shares of the medical technology company’s stock after purchasing an additional 316 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Stryker were worth $9,598,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of SYK. Burkett Financial Services LLC acquired a new position in Stryker during the 4th quarter worth about $25,000. Rogco LP acquired a new position in shares of Stryker during the fourth quarter worth approximately $30,000. DSM Capital Partners LLC bought a new stake in shares of Stryker during the fourth quarter valued at approximately $34,000. Central Pacific Bank Trust Division acquired a new stake in shares of Stryker in the first quarter valued at approximately $39,000. Finally, Private Wealth Management Group LLC bought a new position in Stryker in the 4th quarter worth approximately $40,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Up 0.7 %

NYSE SYK traded up $2.49 during trading hours on Friday, reaching $360.42. 1,307,583 shares of the company’s stock were exchanged, compared to its average volume of 1,303,354. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. The company has a market capitalization of $137.30 billion, a price-to-earnings ratio of 41.14, a price-to-earnings-growth ratio of 2.74 and a beta of 0.89. The company’s 50-day moving average is $336.78 and its two-hundred day moving average is $341.43. 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 data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.02. The company had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.54 earnings per share. On average, analysts forecast that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a dividend of $0.80 per share. The ex-dividend date is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.89%. Stryker’s payout ratio is presently 36.53%.

Insider Activity at Stryker

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the transaction, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the sale, the chief financial officer now owns 2,852 shares in the company, valued at $949,716. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Viju Menon sold 600 shares of the business’s stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now owns 9,069 shares in the company, valued at $3,219,495. The disclosure for this sale can be found here. In the last quarter, insiders have sold 210,600 shares of company stock valued at $68,330,400. 5.90% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have commented on the company. Royal Bank of Canada reiterated an “outperform” rating and issued a $386.00 price objective on shares of Stryker in a research report on Wednesday, July 31st. BTIG Research boosted their price objective on Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a report on Wednesday. Needham & Company LLC raised their target price on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. Finally, Stifel Nicolaus cut their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $373.84.

About Stryker

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.