Stryker Corporation $SYK Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System trimmed its stake in Stryker Corporation (NYSE:SYK) by 40.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 731,453 shares of the medical technology company’s stock after selling 489,932 shares during the quarter. California Public Employees Retirement System owned approximately 0.19% of Stryker worth $289,385,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in Stryker by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock valued at $13,253,831,000 after purchasing an additional 440,607 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Stryker by 9.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company’s stock valued at $4,515,847,000 after buying an additional 1,021,496 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Stryker by 1.1% during the second quarter. Geode Capital Management LLC now owns 7,393,611 shares of the medical technology company’s stock valued at $2,910,445,000 after buying an additional 79,654 shares during the period. Norges Bank acquired a new stake in Stryker during the second quarter worth approximately $1,882,173,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Stryker by 4.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,086,960 shares of the medical technology company’s stock worth $776,871,000 after acquiring an additional 83,954 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SYK. BTIG Research reissued a “buy” rating and set a $410.00 price target on shares of Stryker in a research note on Friday, November 14th. UBS Group set a $408.00 target price on Stryker in a research note on Monday, October 13th. Rothschild & Co Redburn initiated coverage on Stryker in a research report on Thursday, September 18th. They set a “neutral” rating and a $420.00 target price on the stock. Truist Financial lifted their price target on Stryker from $392.00 to $400.00 and gave the company a “hold” rating in a report on Friday, November 14th. Finally, Redburn Partners set a $420.00 price objective on shares of Stryker in a report on Thursday, September 18th. Twelve research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $433.78.

Stryker Stock Performance

Stryker stock opened at $363.82 on Friday. The company has a market cap of $139.13 billion, a price-to-earnings ratio of 47.81, a price-to-earnings-growth ratio of 2.58 and a beta of 0.89. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.85 and a quick ratio of 1.13. The stock’s 50-day moving average is $368.34 and its 200-day moving average is $379.39.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, October 30th. The medical technology company reported $3.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.13 by $0.06. Stryker had a return on equity of 24.07% and a net margin of 12.07%.The business had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $6.04 billion. During the same quarter in the previous year, the business earned $2.87 EPS. The company’s revenue for the quarter was up 10.2% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. Equities analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 276,173 shares of the 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 sale, the director directly owned 2,702,108 shares in the company, valued at approximately $954,600,714.24. This represents a 9.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO William E. Berry, Jr. sold 1,953 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $365.49, for a total value of $713,801.97. Following the completion of the transaction, the chief accounting officer directly owned 2,833 shares in the company, valued at $1,035,433.17. This trade represents a 40.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 522,118 shares of company stock valued at $185,381,932. Company insiders own 5.90% of the company’s stock.

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.