Stryker Corporation $SYK Stock Holdings Decreased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System decreased its position in Stryker Corporation (NYSE:SYK) by 2.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 18,100 shares of the medical technology company’s stock after selling 400 shares during the period. Louisiana State Employees Retirement System’s holdings in Stryker were worth $7,161,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the business. Sax Wealth Advisors LLC lifted its holdings in shares of Stryker by 329.6% in the second quarter. Sax Wealth Advisors LLC now owns 2,638 shares of the medical technology company’s stock valued at $1,044,000 after purchasing an additional 2,024 shares in the last quarter. BankPlus Trust Department raised its position in Stryker by 425.7% during the second quarter. BankPlus Trust Department now owns 389 shares of the medical technology company’s stock valued at $154,000 after buying an additional 315 shares during the period. Canopy Partners LLC raised its position in Stryker by 26.0% during the second quarter. Canopy Partners LLC now owns 1,811 shares of the medical technology company’s stock valued at $716,000 after buying an additional 374 shares during the period. Shell Asset Management Co. raised its position in Stryker by 54.7% during the second quarter. Shell Asset Management Co. now owns 16,515 shares of the medical technology company’s stock valued at $6,534,000 after buying an additional 5,838 shares during the period. Finally, Sachetta LLC grew its stake in Stryker by 58.7% during the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

SYK has been the topic of several research analyst reports. Truist Financial set a $415.00 target price on Stryker and gave the company a “hold” rating in a research note on Monday, August 4th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Stryker in a research report on Saturday, September 27th. Rothschild & Co Redburn started coverage on shares of Stryker in a research report on Thursday, September 18th. They issued a “neutral” rating and a $420.00 target price for the company. Evercore ISI dropped their price target on shares of Stryker from $418.00 to $410.00 and set an “outperform” rating on the stock in a research note on Tuesday. Finally, Wells Fargo & Company boosted their target price on Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a research note on Friday, August 1st. Fifteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and a consensus price target of $430.10.

Stryker Stock Performance

Shares of SYK opened at $369.14 on Wednesday. The firm has a market cap of $141.12 billion, a price-to-earnings ratio of 48.89, a price-to-earnings-growth ratio of 2.64 and a beta of 0.94. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. The company’s fifty day moving average is $381.50 and its 200-day moving average is $378.86. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.07 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The firm had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $5.92 billion. During the same period in the prior year, the company posted $2.81 earnings per share. Stryker’s revenue for the quarter was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Equities analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 44.50%.

Insider Activity at Stryker

In related news, insider Viju Menon sold 500 shares of the company’s stock in a transaction on Monday, August 25th. The shares were sold at an average price of $390.61, for a total transaction of $195,305.00. Following the completion of the sale, the insider directly owned 12,511 shares of the company’s stock, valued at approximately $4,886,921.71. This represents a 3.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the transaction, the director directly owned 3,222,108 shares of the company’s stock, valued at approximately $1,212,962,556.60. This represents a 5.84% decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.20% of the company’s stock.

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.