Louisiana State Employees Retirement System Purchases Shares of 17,600 Stryker Corporation $SYK

Key Points

• Louisiana State Employees Retirement System opened a new position in Stryker during the first quarter, buying 17,600 shares valued at about $5.78 million.
• Institutional interest remains high, with 77.09% of Stryker’s stock owned by institutions and hedge funds, even as several insiders have recently sold shares, including a large sale by Director Ronda E. Stryker.
• Stryker reported Q1 earnings and revenue below analyst expectations, while the company also declared a quarterly dividend of $0.88 per share and holds a consensus analyst rating of Moderate Buy.

Louisiana State Employees Retirement System acquired a new position in shares of Stryker Corporation (NYSE:SYK - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 17,600 shares of the medical technology company's stock, valued at approximately $5,783,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Brighton Jones LLC increased its stake in Stryker by 15.4% in the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock worth $1,643,000 after purchasing an additional 609 shares in the last quarter. Schnieders Capital Management LLC. purchased a new position in shares of Stryker in the second quarter worth approximately $205,000. Marshall Wace LLP raised its holdings in shares of Stryker by 107.9% during the second quarter. Marshall Wace LLP now owns 5,700 shares of the medical technology company's stock valued at $2,255,000 after acquiring an additional 77,831 shares during the period. Nebula Research & Development LLC purchased a new stake in shares of Stryker in the 2nd quarter valued at approximately $219,000. Finally, HUB Investment Partners LLC purchased a new position in Stryker during the 2nd quarter worth approximately $253,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, VP M Kathryn Fink sold 3,500 shares of the firm's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $283.45, for a total value of $992,075.00. Following the transaction, the vice president owned 177 shares in the company, valued at $50,170.65. This trade represents a 95.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronda E. Stryker sold 310,000 shares of the firm's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $312.23, for a total value of $96,791,300.00. Following the completion of the transaction, the director owned 1,924,880 shares in the company, valued at $601,005,282.40. This represents a 13.87% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 323,264 shares of company stock worth $100,659,489. Corporate insiders own 4.60% of the company's stock.

Wall Street Analysts Forecast Growth

SYK has been the subject of several recent analyst reports. Truist Financial reaffirmed a "hold" rating and issued a $330.00 target price (down from $380.00) on shares of Stryker in a research report on Monday, May 4th. Leerink Partners decreased their price objective on Stryker from $410.00 to $407.00 and set an "outperform" rating for the company in a research report on Friday, June 5th. Wall Street Zen downgraded shares of Stryker from a "buy" rating to a "hold" rating in a research report on Saturday, May 16th. Citigroup dropped their target price on Stryker from $420.00 to $385.00 and set a "buy" rating on the stock in a research report on Tuesday, April 7th. Finally, William Blair reaffirmed an "outperform" rating on shares of Stryker in a research note on Thursday, March 5th. Sixteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Stryker has an average rating of "Moderate Buy" and a consensus target price of $395.33.

Stryker Stock Performance

Shares of SYK opened at $332.31 on Friday. The company has a market capitalization of $127.39 billion, a PE ratio of 38.46, a price-to-earnings-growth ratio of 2.03 and a beta of 0.78. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.11 and a quick ratio of 1.25. Stryker Corporation has a one year low of $281.00 and a one year high of $404.87. The company's fifty day moving average price is $311.10 and its 200 day moving average price is $339.93.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The medical technology company reported $2.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.98 by ($0.38). The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.34 billion. Stryker had a net margin of 13.20% and a return on equity of 23.42%. The firm's revenue was up 2.6% on a year-over-year basis. During the same quarter last year, the company earned $2.84 earnings per share. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. As a group, analysts expect that Stryker Corporation will post 14.98 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.88 per share. The ex-dividend date is Tuesday, June 30th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.1%. Stryker's payout ratio is currently 40.74%.

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.

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