Stryker Co. (NYSE:SYK) Stock Position Lifted by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund grew its holdings in Stryker Co. (NYSE:SYK) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 40,077 shares of the medical technology company’s stock after purchasing an additional 749 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Stryker were worth $12,001,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the business. Farmers & Merchants Trust Co of Chambersburg PA raised its stake in Stryker by 203.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 61 shares during the last quarter. HBC Financial Services PLLC bought a new position in shares of Stryker in the 4th quarter valued at about $37,000. Bourgeon Capital Management LLC acquired a new stake in shares of Stryker in the 4th quarter valued at approximately $37,000. Operose Advisors LLC raised its holdings in Stryker by 308.6% during the 3rd quarter. Operose Advisors LLC now owns 143 shares of the medical technology company’s stock worth $39,000 after buying an additional 108 shares during the period. Finally, Venturi Wealth Management LLC raised its holdings in Stryker by 97.1% during the 4th quarter. Venturi Wealth Management LLC now owns 136 shares of the medical technology company’s stock worth $41,000 after buying an additional 67 shares during the period. 77.09% of the stock is owned by institutional investors.

Stryker Stock Performance

Shares of SYK stock traded up $5.70 on Tuesday, hitting $333.38. 540,030 shares of the stock were exchanged, compared to its average volume of 1,267,954. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $126.84 billion, a PE ratio of 39.72, a P/E/G ratio of 2.62 and a beta of 0.89. Stryker Co. has a one year low of $249.98 and a one year high of $361.41. The firm’s 50 day moving average is $349.74 and its two-hundred day moving average is $313.59.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share for the quarter, topping the consensus estimate of $3.27 by $0.19. The company had revenue of $5.82 billion during the quarter, compared to the consensus estimate of $5.60 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The firm’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.00 EPS. Sell-side analysts expect that Stryker Co. will post 11.86 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.96%. The ex-dividend date is Wednesday, March 27th. Stryker’s payout ratio is presently 38.79%.

Insider Buying and Selling at Stryker

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at $1,317,414. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the sale, the director now owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The disclosure for this sale can be found here. Insiders sold 212,109 shares of company stock valued at $72,845,768 in the last quarter. 5.50% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

SYK has been the subject of several analyst reports. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and raised their target price for the company from $315.00 to $360.00 in a research note on Wednesday, January 31st. Citigroup boosted their target price on shares of Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a research report on Wednesday, April 3rd. Wells Fargo & Company boosted their price target on Stryker from $336.00 to $364.00 and gave the company an “overweight” rating in a research note on Wednesday, January 31st. TD Cowen boosted their price target on Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Finally, Canaccord Genuity Group raised Stryker from a “hold” rating to a “buy” rating and set a $360.00 target price for the company in a research note on Wednesday, January 31st. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $340.45.

About Stryker

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.