New York State Teachers Retirement System reduced its holdings in shares of Stryker Corporation (NYSE:SYK) by 0.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 494,947 shares of the medical technology company’s stock after selling 3,589 shares during the quarter. New York State Teachers Retirement System owned about 0.13% of Stryker Corporation worth $70,292,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Acrospire Investment Management LLC purchased a new stake in Stryker Corporation in the 2nd quarter worth approximately $111,000. Motco lifted its stake in Stryker Corporation by 50.7% in the 2nd quarter. Motco now owns 826 shares of the medical technology company’s stock worth $115,000 after purchasing an additional 278 shares in the last quarter. Bollard Group LLC lifted its stake in Stryker Corporation by 0.4% in the 2nd quarter. Bollard Group LLC now owns 832 shares of the medical technology company’s stock worth $115,000 after purchasing an additional 3 shares in the last quarter. Bruderman Asset Management LLC purchased a new stake in Stryker Corporation in the 2nd quarter worth approximately $150,000. Finally, James Investment Research Inc. purchased a new stake in Stryker Corporation in the 2nd quarter worth approximately $155,000. Institutional investors own 74.15% of the company’s stock.
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Stryker Corporation (SYK) opened at $155.75 on Tuesday. The firm has a market cap of $57,812.22, a P/E ratio of 24.48, a price-to-earnings-growth ratio of 2.43 and a beta of 0.79. Stryker Corporation has a 12-month low of $106.48 and a 12-month high of $160.62. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.37 and a quick ratio of 1.61.
Stryker Corporation (NYSE:SYK) last posted its quarterly earnings results on Thursday, October 26th. The medical technology company reported $1.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.50 by $0.02. Stryker Corporation had a net margin of 14.67% and a return on equity of 24.11%. The business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.97 billion. During the same period in the prior year, the business posted $1.39 earnings per share. The company’s revenue was up 6.1% on a year-over-year basis. sell-side analysts anticipate that Stryker Corporation will post 6.47 EPS for the current year.
In other news, insider Lonny J. Carpenter sold 5,000 shares of the business’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $155.34, for a total value of $776,700.00. Following the transaction, the insider now owns 83,207 shares of the company’s stock, valued at $12,925,375.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 7.40% of the stock is currently owned by insiders.
SYK has been the topic of several research reports. Cowen and Company set a $166.00 price objective on shares of Stryker Corporation and gave the company a “buy” rating in a research report on Sunday, October 29th. Needham & Company LLC restated a “hold” rating on shares of Stryker Corporation in a research report on Friday, November 3rd. Oppenheimer Holdings, Inc. set a $156.00 target price on shares of Stryker Corporation and gave the company a “hold” rating in a report on Monday, October 30th. ValuEngine raised shares of Stryker Corporation from a “hold” rating to a “buy” rating in a report on Tuesday. Finally, Zacks Investment Research raised shares of Stryker Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the stock. Stryker Corporation currently has an average rating of “Hold” and a consensus target price of $151.52.
About Stryker Corporation
Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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