Illinois Municipal Retirement Fund Trims Stock Position in Stryker Corporation $SYK

Illinois Municipal Retirement Fund trimmed its holdings in Stryker Corporation (NYSE:SYK) by 21.3% in the 2nd quarter, HoldingsChannel reports. The fund owned 25,595 shares of the medical technology company’s stock after selling 6,939 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Stryker were worth $10,126,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Stryker during the 2nd quarter worth $26,000. Sachetta LLC raised its holdings in Stryker by 58.7% in the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after buying an additional 27 shares during the period. Ridgewood Investments LLC lifted its position in Stryker by 48.4% in the second quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock valued at $36,000 after buying an additional 30 shares during the last quarter. Ransom Advisory Ltd purchased a new position in Stryker during the first quarter worth about $37,000. Finally, Solstein Capital LLC purchased a new position in Stryker during the second quarter worth about $43,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Rothschild Redb raised shares of Stryker to a “hold” rating in a research note on Thursday, September 18th. Truist Financial reissued a “hold” rating and issued a $392.00 target price (down previously from $407.00) on shares of Stryker in a research report on Monday, November 3rd. Barclays raised their price target on Stryker from $443.00 to $453.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Wells Fargo & Company lifted their price objective on Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Finally, UBS Group set a $408.00 target price on Stryker in a research note on Monday, October 13th. Thirteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $433.37.

Stryker Trading Down 0.3%

NYSE SYK opened at $355.03 on Tuesday. The firm’s fifty day moving average price is $373.91 and its 200 day moving average price is $381.34. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. The company has a market capitalization of $135.77 billion, a price-to-earnings ratio of 47.02, a price-to-earnings-growth ratio of 2.66 and a beta of 0.94.

Stryker (NYSE:SYK) last released its quarterly earnings data on Thursday, October 30th. The medical technology company reported $3.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.13 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The company had revenue of $6.06 billion during the quarter, compared to the consensus estimate of $6.04 billion. During the same quarter in the prior year, the firm posted $2.87 earnings per share. Stryker’s revenue for the quarter was up 10.2% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. On average, sell-side analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Stryker news, insider Viju Menon sold 500 shares of Stryker stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $390.61, for a total transaction of $195,305.00. Following the transaction, the insider owned 12,511 shares of the company’s stock, valued at $4,886,921.71. The trade was a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 276,173 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $353.28, for a total value of $97,566,397.44. Following the completion of the sale, the director owned 2,702,108 shares of the company’s stock, valued at approximately $954,600,714.24. This represents a 9.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 520,500 shares of company stock worth $184,803,065 in the last 90 days. 5.90% of the stock is currently owned by company insiders.

Stryker Profile

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.