Stryker Corporation $SYK Shares Sold by Illinois Municipal Retirement Fund

Key Points

• Illinois Municipal Retirement Fund cut its Stryker stake by 17.4% in the first quarter, selling 6,804 shares and leaving it with 32,353 shares worth about $10.6 million.
• Despite some recent selling by investors and insiders, Wall Street remains broadly positive on Stryker, with 16 Buy ratings, one Strong Buy, and a consensus price target of $392.52.
• Stryker recently missed earnings and revenue expectations for the quarter, though it still posted 2.6% revenue growth year over year and maintained its dividend at $0.88 per share quarterly.

Illinois Municipal Retirement Fund decreased its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 17.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,353 shares of the medical technology company's stock after selling 6,804 shares during the quarter. Illinois Municipal Retirement Fund's holdings in Stryker were worth $10,631,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in SYK. Journey Advisory Group LLC lifted its position in Stryker by 13.9% in the first quarter. Journey Advisory Group LLC now owns 4,424 shares of the medical technology company's stock valued at $1,454,000 after buying an additional 541 shares during the last quarter. Peninsula Asset Management Inc. raised its stake in shares of Stryker by 15.8% in the 1st quarter. Peninsula Asset Management Inc. now owns 20,817 shares of the medical technology company's stock valued at $6,840,000 after acquiring an additional 2,839 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Stryker by 7.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 23,958 shares of the medical technology company's stock worth $7,872,000 after acquiring an additional 1,626 shares during the last quarter. MASTERINVEST Kapitalanlage GmbH lifted its holdings in shares of Stryker by 0.7% in the 1st quarter. MASTERINVEST Kapitalanlage GmbH now owns 7,287 shares of the medical technology company's stock worth $2,394,000 after acquiring an additional 53 shares during the last quarter. Finally, Signet Financial Management LLC increased its holdings in Stryker by 5.4% in the 1st quarter. Signet Financial Management LLC now owns 687 shares of the medical technology company's stock valued at $226,000 after purchasing an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. BTIG Research set a $371.00 price target on Stryker in a research note on Monday. Robert W. Baird set a $385.00 price objective on Stryker in a report on Friday, May 1st. Truist Financial reissued a "hold" rating and set a $330.00 target price (down from $380.00) on shares of Stryker in a research note on Monday, May 4th. Evercore set a $350.00 target price on Stryker in a research report on Monday, July 6th. Finally, Argus set a $370.00 price target on shares of Stryker in a research note on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $392.52.

Stryker Stock Performance

NYSE:SYK opened at $330.64 on Friday. The firm has a market capitalization of $126.76 billion, a PE ratio of 38.27, a price-to-earnings-growth ratio of 2.03 and a beta of 0.77. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.11 and a quick ratio of 1.25. The business's fifty day moving average price is $312.00 and its 200 day moving average price is $336.94. Stryker Corporation has a 12 month low of $281.00 and a 12 month high of $404.87.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The medical technology company reported $2.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.98 by ($0.38). Stryker had a return on equity of 23.42% and a net margin of 13.20%.The business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.34 billion. During the same period in the prior year, the company posted $2.84 earnings per share. The company's revenue was up 2.6% compared to the same quarter last year. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. On average, sell-side analysts anticipate that Stryker Corporation will post 14.98 earnings per share for the current fiscal year.

Stryker Dividend Announcement

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

Insider Transactions at Stryker

In related news, VP Robert S. Fletcher sold 4,544 shares of Stryker stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $306.87, for a total transaction of $1,394,417.28. Following the sale, the vice president directly owned 10,582 shares in the company, valued at $3,247,298.34. This trade represents a 30.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ronda E. Stryker sold 310,000 shares of the company's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $312.23, for a total transaction of $96,791,300.00. Following the completion of the transaction, the director owned 1,924,880 shares of the company's stock, valued at $601,005,282.40. This represents a 13.87% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 323,264 shares of company stock worth $100,659,489. 4.60% of the stock is currently owned by insiders.

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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