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Public Sector Pension Investment Board Trims Stake in Stryker Corporation $SYK
The Public Sector Pension Investment Board significantly reduced its stake in Stryker Corporation (NYSE:SYK) by 86.9% in the third quarter, selling 199,930 shares and retaining 30,210 shares valued at approximately $11.17 million. Despite this, Stryker reported strong quarterly earnings, beating EPS estimates and seeing an 11.4% year-over-year revenue increase, with a consensus analyst rating of “Moderate Buy” and a $426.94 price target. Insiders, including Director Ronda E. Stryker and CFO Preston Wendell Wells, also sold shares, though institutional investors still own 77.09% of the company’s stock.