Illinois Municipal Retirement Fund Has $13.51 Million Stock Holdings in Stryker Corporation $SYK

Illinois Municipal Retirement Fund increased its stake in Stryker Corporation (NYSE:SYK) by 42.8% during the third quarter, HoldingsChannel reports. The firm owned 36,554 shares of the medical technology company’s stock after acquiring an additional 10,959 shares during the period. Illinois Municipal Retirement Fund’s holdings in Stryker were worth $13,513,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Stryker in the 2nd quarter valued at approximately $26,000. Clayton Financial Group LLC acquired a new stake in Stryker during the third quarter valued at $26,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Stryker in the 2nd quarter valued at approximately $28,000. Kilter Group LLC bought a new stake in Stryker in the second quarter worth approximately $29,000. Finally, Howard Hughes Medical Institute bought a new stake in Stryker in the second quarter worth $29,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the transaction, the director owned 2,457,331 shares in the company, valued at $891,814,566.52. This trade represents a 9.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Preston Wendell Wells sold 165 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were 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 of the company’s stock, valued at approximately $2,449,200.72. This represents a 2.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Evercore set a $390.00 price target on Stryker in a report on Monday, January 5th. Wall Street Zen lowered Stryker from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Piper Sandler restated an “overweight” rating on shares of Stryker in a research report on Tuesday, January 27th. The Goldman Sachs Group set a $399.00 price target on shares of Stryker in a research report on Friday, January 9th. Finally, TD Cowen cut Stryker from a “buy” rating to a “hold” rating and set a $387.00 target price on the stock. in a report on Monday, January 26th. Twelve investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $426.94.

Stryker Stock Performance

Shares of SYK stock opened at $365.88 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21. Stryker Corporation has a one year low of $329.16 and a one year high of $404.87. The stock has a 50-day moving average of $357.96 and a 200-day moving average of $369.81. The stock has a market cap of $139.92 billion, a PE ratio of 43.56, a price-to-earnings-growth ratio of 2.13 and a beta of 0.87.

Stryker (NYSE:SYK) last posted its earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, topping the consensus estimate of $4.40 by $0.07. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The firm had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.12 billion. During the same period in the previous year, the company posted $4.01 earnings per share. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. As a group, sell-side analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be paid 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 payout ratio is presently 41.90%.

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.