Stryker Corporation $SYK Stock: Illinois Municipal Retirement Fund Reduces Stake

Illinois Municipal Retirement Fund decreased its holdings in shares of Stryker Corporation (NYSE:SYK) by 29.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,855 shares of the medical technology company’s stock after selling 10,348 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Stryker were worth $6,845,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of SYK. International Assets Investment Management LLC increased its stake in Stryker by 1,432.8% in the third quarter. International Assets Investment Management LLC now owns 25,000 shares of the medical technology company’s stock valued at $6,885,000 after acquiring an additional 23,369 shares during the last quarter. Amundi lifted its stake in Stryker by 18.3% during the second quarter. Amundi now owns 1,246,353 shares of the medical technology company’s stock worth $392,402,000 after purchasing an additional 192,447 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Stryker by 8.2% during the second quarter. The Manufacturers Life Insurance Company now owns 859,544 shares of the medical technology company’s stock worth $270,642,000 after purchasing an additional 65,333 shares during the last quarter. Veritas Asset Management LLP bought a new stake in Stryker during the second quarter worth about $168,057,000. Finally, Bank of America Corp DE purchased a new position in shares of Stryker in the 2nd quarter worth about $1,404,284,000. 77.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SYK shares. Canaccord Genuity Group downgraded Stryker from a “buy” rating to a “hold” rating and dropped their target price for the stock from $385.00 to $300.00 in a research report on Friday, October 30th. Wolfe Research lowered Stryker from an “outperform” rating to a “peer perform” rating in a research note on Thursday, August 13th. Citizens Jmp reduced their price target on shares of Stryker from $400.00 to $390.00 and set a “market outperform” rating on the stock in a research report on Friday, October 30th. TD Cowen decreased their price target on shares of Stryker from $298.00 to $290.00 and set a “hold” rating on the stock in a research note on Friday, October 30th. Finally, Deutsche Bank lowered their price objective on shares of Stryker from $315.00 to $275.00 and set a “hold” rating for the company in a report on Friday, October 30th. Twenty-one research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $342.19.

Stryker Stock Performance

NYSE:SYK opened at $312.17 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.30 and a current ratio of 2.18. Stryker Corporation has a fifty-two week low of $267.00 and a fifty-two week high of $389.33. The firm has a market cap of $118.84 billion, a PE ratio of 33.24, a price-to-earnings-growth ratio of 2.19 and a beta of 0.78. The business has a 50 day moving average price of $292.28 and a 200-day moving average price of $322.83.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, October 29th. The medical technology company reported $3.52 EPS for the quarter, missing the consensus estimate of $3.55 by ($0.03). Stryker had a return on equity of 23.74% and a net margin of 13.78%. The firm had revenue of $6.52 billion during the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the previous year, the firm earned $3.19 earnings per share. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. Equities research analysts predict that Stryker Corporation will post 14.85 earnings per share for the current year.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 550,000 shares of the stock in a transaction dated Friday, November 6th. The shares were sold at an average price of $325.32, for a total transaction of $178,926,000.00. Following the completion of the sale, the director directly owned 1,701,375 shares in the company, valued at approximately $553,491,315. This represents a 24.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Dylan Crotty sold 441 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $328.61, for a total value of $144,917.01. Following the completion of the sale, the insider directly owned 6,102 shares in the company, valued at $2,005,178.22. The trade was a 6.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 901,267 shares of company stock worth $297,123,701. 4.60% of the stock is currently owned by company insiders.

Stryker Profile

Stryker is a medical technology company that develops and sells products and services for healthcare providers. Its offerings include orthopedic implants and surgical equipment, neurotechnology and spine products, and medical and surgical equipment used in hospitals and other care settings. The company’s products also include patient-handling and emergency medical equipment, as well as instruments and technologies that support surgical procedures. Stryker serves healthcare customers in the United States and internationally.