Illinois Municipal Retirement Fund Buys 6,159 Shares of Stryker Co. (NYSE:SYK)

Illinois Municipal Retirement Fund increased its stake in shares of Stryker Co. (NYSE:SYK) by 22.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,934 shares of the medical technology company’s stock after acquiring an additional 6,159 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Stryker were worth $12,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently made changes to their positions in SYK. Assenagon Asset Management S.A. grew its position in shares of Stryker by 15.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 10,304 shares of the medical technology company’s stock worth $3,722,000 after buying an additional 1,392 shares during the last quarter. Arkadios Wealth Advisors grew its position in shares of Stryker by 23.0% in the 3rd quarter. Arkadios Wealth Advisors now owns 732 shares of the medical technology company’s stock worth $265,000 after buying an additional 137 shares during the last quarter. J.W. Cole Advisors Inc. grew its position in shares of Stryker by 23.4% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 3,932 shares of the medical technology company’s stock worth $1,420,000 after buying an additional 746 shares during the last quarter. Autumn Glory Partners LLC grew its position in shares of Stryker by 139.8% in the 3rd quarter. Autumn Glory Partners LLC now owns 2,038 shares of the medical technology company’s stock worth $737,000 after buying an additional 1,188 shares during the last quarter. Finally, Old Port Advisors grew its position in shares of Stryker by 5.2% in the 3rd quarter. Old Port Advisors now owns 934 shares of the medical technology company’s stock worth $337,000 after buying an additional 46 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction on Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the sale, the director now owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the sale, the director now directly owns 14,895 shares of the company’s stock, valued at $5,705,827.65. The trade was a 14.16 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by corporate insiders.

Stryker Stock Up 0.7 %

SYK stock opened at $390.57 on Wednesday. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19. The business has a fifty day moving average price of $378.78 and a 200-day moving average price of $370.22. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The stock has a market capitalization of $149.03 billion, a P/E ratio of 50.33, a P/E/G ratio of 2.93 and a beta of 0.96.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same period in the previous year, the company earned $3.46 earnings per share. Equities analysts forecast that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio is currently 43.30%.

Analysts Set New Price Targets

SYK has been the topic of a number of recent analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $442.00 price objective on shares of Stryker in a research report on Wednesday, January 29th. Canaccord Genuity Group raised their target price on Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Robert W. Baird raised their target price on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Wells Fargo & Company raised their target price on Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Truist Financial raised their target price on Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $422.15.

Stryker Company 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.