State of New Jersey Common Pension Fund D Acquires 4,595 Shares of Stryker Corporation $SYK

State of New Jersey Common Pension Fund D increased its stake in Stryker Corporation (NYSE:SYK) by 4.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 119,935 shares of the medical technology company’s stock after purchasing 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 SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new stake in shares of Stryker during the 2nd quarter worth $1,882,173,000. Alliancebernstein L.P. boosted its holdings in shares of Stryker by 307.6% in the 2nd quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock worth $2,214,146,000 after purchasing an additional 4,223,366 shares in the last quarter. Corient Private Wealth LLC increased its position in shares of Stryker by 104.4% during the 2nd quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock valued at $887,525,000 after purchasing an additional 1,146,998 shares during the last quarter. ABN AMRO Bank N.V. purchased a new position in shares of Stryker during the 2nd quarter valued at about $191,047,000. Finally, Vanguard Group Inc. lifted its position in Stryker by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock worth $13,253,831,000 after buying an additional 440,607 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Truist Financial decreased their price target on shares of Stryker from $400.00 to $392.00 and set a “hold” rating on the stock in a research note on Thursday, December 18th. Wells Fargo & Company upped their price objective on shares of Stryker from $452.00 to $456.00 and gave the company an “overweight” rating in a research note on Friday, November 14th. Wall Street Zen cut shares of Stryker from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Evercore set a $390.00 price objective on Stryker in a research note on Monday, January 5th. Finally, Sanford C. Bernstein increased their target price on Stryker from $450.00 to $465.00 and gave the company an “outperform” rating in a report on Friday, January 9th. Twelve equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $426.94.

Stryker Stock Up 0.0%

NYSE SYK opened at $366.02 on Friday. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $404.87. The stock has a market capitalization of $140.07 billion, a PE ratio of 43.57, a PEG ratio of 2.14 and a beta of 0.87. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21. The business’s 50-day moving average is $358.00 and its 200 day moving average is $369.35.

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

Stryker Dividend Announcement

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

Insider Activity at Stryker

In other news, CFO Preston Wendell Wells sold 165 shares of the firm’s stock in a transaction that occurred on 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 owned 6,694 shares in the company, valued at $2,449,200.72. This trade represents a 2.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 250,000 shares of Stryker stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total value of $90,730,000.00. Following the sale, the director owned 2,457,331 shares in the company, valued at $891,814,566.52. This represents a 9.23% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 5.90% of the company’s stock.

Stryker 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.