Public Employees Retirement System of Ohio Invests $41.64 Million in Stryker Corporation $SYK

Public Employees Retirement System of Ohio purchased a new position in Stryker Corporation (NYSE:SYK) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 132,253 shares of the medical technology company’s stock, valued at approximately $41,639,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SYK. Gables Capital Management Inc. bought a new stake in shares of Stryker in the 2nd quarter valued at approximately $25,000. Kilter Group LLC bought a new position in Stryker during the second quarter worth $25,000. Godfrey Financial Associates Inc. bought a new position in Stryker during the fourth quarter worth $26,000. Sankala Group LLC acquired a new position in Stryker in the fourth quarter worth $26,000. Finally, United Financial Planning Group LLC bought a new stake in Stryker during the third quarter valued at $27,000. 77.09% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on SYK. Leerink Partners reduced their price target on shares of Stryker from $410.00 to $407.00 and set an “outperform” rating on the stock in a research report on Friday, June 5th. Needham & Company LLC lowered their price objective on shares of Stryker from $454.00 to $418.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Piper Sandler dropped their price objective on shares of Stryker from $420.00 to $390.00 and set an “overweight” rating on the stock in a research note on Friday, July 31st. Raymond James Financial set a $370.00 target price on shares of Stryker in a report on Friday, July 31st. Finally, Wolfe Research downgraded Stryker from an “outperform” rating to a “peer perform” rating in a research note on Thursday, August 13th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and an average price target of $386.28.

Insider Transactions at Stryker

In other Stryker news, insider Dylan Bram Crotty sold 441 shares of Stryker stock in a transaction on Friday, August 21st. The stock was sold at an average price of $328.61, for a total transaction of $144,917.01. Following the sale, the insider owned 6,102 shares of the company’s stock, valued at $2,005,178.22. The trade was a 6.74% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Debra King sold 826 shares of the business’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $336.30, for a total value of $277,783.80. Following the transaction, the insider owned 6,210 shares of the company’s stock, valued at $2,088,423. This trade represents a 11.74% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 351,267 shares of company stock worth $118,197,701. Company insiders own 4.60% of the company’s stock.

Stryker Stock Down 2.3%

Stryker stock opened at $322.20 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.33 and a current ratio of 2.16. Stryker Corporation has a one year low of $281.00 and a one year high of $396.86. The company has a 50-day simple moving average of $328.64 and a 200-day simple moving average of $331.47. The firm has a market capitalization of $123.58 billion, a P/E ratio of 33.39, a P/E/G ratio of 2.10 and a beta of 0.76.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, July 30th. The medical technology company reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.49 by $0.20. The firm had revenue of $6.59 billion for the quarter, compared to the consensus estimate of $6.58 billion. Stryker had a net margin of 14.43% and a return on equity of 23.63%. Stryker’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the firm posted $3.13 EPS. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. As a group, equities analysts expect that Stryker Corporation will post 15.02 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Wednesday, September 30th. Stryker’s payout ratio is 36.48%.

About Stryker

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.