Teacher Retirement System of Texas lowered its stake in shares of Stryker Corp. (NYSE:SYK) by 51.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 29,797 shares of the medical technology company’s stock after selling 31,202 shares during the period. Teacher Retirement System of Texas’ holdings in Stryker Corp. were worth $3,571,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SYK. Wellington Management Group LLP boosted its stake in shares of Stryker Corp. by 10.0% in the first quarter. Wellington Management Group LLP now owns 5,509,234 shares of the medical technology company’s stock valued at $591,086,000 after buying an additional 499,015 shares during the period. BlackRock Fund Advisors boosted its stake in shares of Stryker Corp. by 5.6% in the first quarter. BlackRock Fund Advisors now owns 5,228,868 shares of the medical technology company’s stock valued at $561,005,000 after buying an additional 279,074 shares during the period. Fundsmith LLP boosted its stake in shares of Stryker Corp. by 12.7% in the first quarter. Fundsmith LLP now owns 3,605,529 shares of the medical technology company’s stock valued at $386,837,000 after buying an additional 407,066 shares during the period. BlackRock Group LTD boosted its stake in shares of Stryker Corp. by 2.0% in the first quarter. BlackRock Group LTD now owns 3,038,769 shares of the medical technology company’s stock valued at $326,029,000 after buying an additional 59,805 shares during the period. Finally, Lazard Asset Management LLC bought a new stake in shares of Stryker Corp. during the first quarter valued at about $272,490,000. 75.48% of the stock is currently owned by institutional investors and hedge funds.

Stryker Corp. (NYSE:SYK) traded up 0.31% during midday trading on Tuesday, reaching $114.77. The company had a trading volume of 442,773 shares. The firm’s 50 day moving average is $114.41 and its 200 day moving average is $112.71. Stryker Corp. has a 1-year low of $86.68 and a 1-year high of $123.55. The stock has a market capitalization of $42.96 billion, a PE ratio of 27.06 and a beta of 0.71.

Stryker Corp. (NYSE:SYK) last released its quarterly earnings data on Thursday, July 21st. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.02. Stryker Corp. had a net margin of 15.33% and a return on equity of 23.61%. The company earned $2.84 billion during the quarter, compared to the consensus estimate of $2.79 billion. On average, equities analysts anticipate that Stryker Corp. will post $5.76 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be paid a dividend of $0.38 per share. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.52 annualized dividend and a dividend yield of 1.33%. Stryker Corp.’s dividend payout ratio (DPR) is 35.85%.

SYK has been the topic of several recent research reports. Guggenheim initiated coverage on Stryker Corp. in a research report on Wednesday, June 8th. They set a “buy” rating and a $134.00 target price on the stock. Brean Capital reaffirmed a “buy” rating and set a $125.00 target price (up previously from $121.00) on shares of Stryker Corp. in a research report on Monday, July 25th. Zacks Investment Research raised Stryker Corp. from a “hold” rating to a “buy” rating and set a $130.00 target price on the stock in a research report on Tuesday, June 21st. Needham & Company LLC reaffirmed a “hold” rating on shares of Stryker Corp. in a research report on Sunday, July 24th. Finally, Jefferies Group reissued a “hold” rating and issued a $120.00 price objective (up previously from $113.00) on shares of Stryker Corp. in a research report on Monday, July 25th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. Stryker Corp. has an average rating of “Hold” and a consensus price target of $114.91.

In other news, Director Ronda E. Stryker sold 6,000 shares of the stock in a transaction dated Tuesday, July 12th. The shares were sold at an average price of $122.75, for a total transaction of $736,500.00. Following the completion of the sale, the director now owns 193,142 shares in the company, valued at $23,708,180.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ronda E. Stryker sold 12,000 shares of the stock in a transaction dated Thursday, June 23rd. The stock was sold at an average price of $117.25, for a total transaction of $1,407,000.00. Following the sale, the director now owns 193,142 shares of the company’s stock, valued at approximately $22,645,899.50. The disclosure for this sale can be found here. Insiders own 7.80% of the company’s stock.

Stryker Corp. Company Profile

Stryker Corporation (Stryker) is a medical technology company. The Company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Company’s Orthopaedics segment products consist of implants used in hip and knee joint replacements and trauma and surgeries. The Company’s MedSurg segment products consist of surgical equipment and surgical navigation systems (Instruments); endoscopic and communications systems (Endoscopy); patient handling and emergency medical equipment (Medical), and reprocessed and remanufactured medical devices (Sustainability), as well as other medical device products used in a range of medical specialties.

5 Day Chart for NYSE:SYK

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