Kentucky Retirement Systems Lowers Stock Holdings in Stryker Corporation $SYK

by · The Cerbat Gem

Kentucky Retirement Systems lowered its stake in Stryker Corporation (NYSE:SYK – Free Report) by 6.2% during the second quarter, HoldingsChannel reports. The firm owned 23,195 shares of the medical technology company’s stock after selling 1,520 shares during the quarter. Kentucky Retirement Systems’ holdings in Stryker were worth $9,177,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently modified their holdings of SYK. Mid American Wealth Advisory Group Inc. acquired a new position in Stryker in the 2nd quarter valued at $26,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Stryker in the second quarter valued at about $28,000. Sachetta LLC raised its holdings in Stryker by 58.7% during the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock worth $29,000 after purchasing an additional 27 shares in the last quarter. Kilter Group LLC acquired a new stake in Stryker in the second quarter valued at about $29,000. Finally, Howard Hughes Medical Institute acquired a new stake in Stryker in the second quarter valued at about $29,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Ronda E. Stryker sold 276,173 shares of the business’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $353.28, for a total value of $97,566,397.44. Following the completion of the transaction, the director directly owned 2,702,108 shares of the company’s stock, valued at $954,600,714.24. The trade was a 9.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO William E. Berry, Jr. sold 1,953 shares of the stock in a transaction on Friday, November 14th. The shares were sold at an average price of $365.49, for a total value of $713,801.97. Following the sale, the chief accounting officer directly owned 2,833 shares in the company, valued at approximately $1,035,433.17. The trade was a 40.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 522,118 shares of company stock worth $185,381,932 in the last ninety days. Insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on SYK shares. Wall Street Zen downgraded Stryker from a “buy” rating to a “hold” rating in a research note on Saturday. Wells Fargo & Company increased their price objective on Stryker from $452.00 to $456.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. Rothschild & Co Redburn assumed coverage on shares of Stryker in a research report on Thursday, September 18th. They set a “neutral” rating and a $420.00 target price on the stock. UBS Group set a $408.00 price target on shares of Stryker in a research note on Monday, October 13th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $448.00 price objective on shares of Stryker in a research note on Friday, November 14th. Twelve investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $431.83.

Read Our Latest Analysis on Stryker

Stryker Stock Up 0.3%

Stryker stock opened at $353.99 on Friday. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The firm has a market capitalization of $135.37 billion, a price-to-earnings ratio of 46.52, a price-to-earnings-growth ratio of 2.51 and a beta of 0.89. The stock’s fifty day moving average is $366.81 and its two-hundred day moving average is $378.46. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.13 and a current ratio of 1.85.

Stryker (NYSE:SYK – Get Free Report) last released its quarterly earnings data on Thursday, October 30th. The medical technology company reported $3.19 EPS for the quarter, topping the consensus estimate of $3.13 by $0.06. Stryker had a net margin of 12.07% and a return on equity of 24.07%. The business had revenue of $6.06 billion for the quarter, compared to analyst estimates of $6.04 billion. During the same period in the previous year, the firm earned $2.87 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. Analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be given a $0.88 dividend. This is a boost from Stryker’s previous quarterly dividend of $0.84. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Wednesday, December 31st. Stryker’s dividend payout ratio (DPR) is currently 44.15%.

Stryker Profile

(Free Report)

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.

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