State of Alaska Department of Revenue Sells 1,858 Shares of Stryker Corporation $SYK

State of Alaska Department of Revenue cut its stake in Stryker Corporation (NYSE:SYK) by 4.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,785 shares of the medical technology company’s stock after selling 1,858 shares during the quarter. State of Alaska Department of Revenue’s holdings in Stryker were worth $13,598,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Mid American Wealth Advisory Group Inc. acquired a new stake in shares of Stryker in the 2nd quarter valued at $26,000. Clayton Financial Group LLC bought a new stake in shares of Stryker in the third quarter valued at $26,000. Elevation Point Wealth Partners LLC bought a new stake in Stryker in the 2nd quarter valued at about $28,000. Sachetta LLC lifted its stake in Stryker by 58.7% in the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock worth $29,000 after purchasing an additional 27 shares in the last quarter. Finally, Kilter Group LLC purchased a new position in shares of Stryker during the second quarter worth about $29,000. Institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on SYK. Rothschild Redb upgraded shares of Stryker to a “hold” rating in a research report on Thursday, September 18th. Sanford C. Bernstein reissued an “outperform” rating and set a $465.00 price target on shares of Stryker in a research note on Friday. BTIG Research reaffirmed a “buy” rating and set a $410.00 target price on shares of Stryker in a report on Friday, November 14th. Wells Fargo & Company upped their price target on shares of Stryker from $452.00 to $456.00 and gave the company an “overweight” rating in a research report on Friday, November 14th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Stryker in a report on Monday, December 22nd. Fourteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $430.00.

Stryker Trading Down 0.2%

Shares of NYSE SYK opened at $367.13 on Friday. The stock has a market cap of $140.40 billion, a P/E ratio of 48.24, a price-to-earnings-growth ratio of 2.36 and a beta of 0.89. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.85 and a quick ratio of 1.13. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19. The firm has a 50-day moving average of $359.67 and a 200 day moving average of $375.24.

Stryker (NYSE:SYK) last released its earnings results on Friday, October 31st. The medical technology company reported $3.19 EPS for the quarter, topping the consensus estimate of $3.13 by $0.06. Stryker had a return on equity of 24.07% and a net margin of 12.07%.The business had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $6.04 billion. During the same period in the previous year, the company posted $2.87 earnings per share. The company’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, sell-side analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. This is a boost from Stryker’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Wednesday, December 31st. Stryker’s payout ratio is 46.25%.

Insider Buying and Selling at Stryker

In related news, CAO William E. Berry, Jr. sold 1,953 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $365.49, for a total value of $713,801.97. Following the sale, the chief accounting officer owned 2,833 shares in the company, valued at approximately $1,035,433.17. This trade represents a 40.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Preston Wendell Wells sold 165 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $365.88, for a total value of $60,370.20. Following the completion of the transaction, the chief financial officer directly owned 6,694 shares in the company, valued at $2,449,200.72. The trade was a 2.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 522,118 shares of company stock worth $185,381,932. Company insiders own 5.90% of the company’s stock.

About Stryker

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.