Arcadia Investment Management Corp MI Cuts Stock Holdings in Stryker Corporation (NYSE:SYK)

Arcadia Investment Management Corp MI trimmed its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 4.0% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 67,096 shares of the medical technology company's stock after selling 2,763 shares during the period. Stryker makes up approximately 4.5% of Arcadia Investment Management Corp MI's holdings, making the stock its 3rd largest position. Arcadia Investment Management Corp MI's holdings in Stryker were worth $24,976,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Mascoma Wealth Management LLC boosted its stake in Stryker by 22.7% during the 4th quarter. Mascoma Wealth Management LLC now owns 146 shares of the medical technology company's stock valued at $53,000 after purchasing an additional 27 shares during the last quarter. Continuum Advisory LLC boosted its stake in Stryker by 5.8% during the 1st quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company's stock valued at $198,000 after purchasing an additional 29 shares during the last quarter. Oakworth Capital Inc. boosted its stake in Stryker by 0.5% during the 1st quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company's stock valued at $2,283,000 after purchasing an additional 29 shares during the last quarter. Ironwood Investment Counsel LLC boosted its stake in Stryker by 0.9% during the 4th quarter. Ironwood Investment Counsel LLC now owns 3,323 shares of the medical technology company's stock valued at $1,196,000 after purchasing an additional 30 shares during the last quarter. Finally, ICW Investment Advisors LLC boosted its stake in Stryker by 0.6% during the 4th quarter. ICW Investment Advisors LLC now owns 4,846 shares of the medical technology company's stock valued at $1,745,000 after purchasing an additional 30 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the completion of the transaction, the director owned 3,417,326 shares in the company, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 5.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a research note on Monday, May 5th. Truist Financial upped their price objective on Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a research report on Monday, May 5th. Roth Mkm upped their price objective on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Finally, Needham & Company LLC reissued a "buy" rating and set a $442.00 price objective on shares of Stryker in a research report on Friday, March 21st. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to data from MarketBeat.com, Stryker has a consensus rating of "Moderate Buy" and a consensus target price of $428.55.

Stryker Price Performance

SYK traded up $2.62 during trading on Thursday, hitting $394.67. 1,167,734 shares of the company traded hands, compared to its average volume of 1,352,604. The company has a market cap of $150.64 billion, a PE ratio of 53.33, a P/E/G ratio of 2.96 and a beta of 0.91. The stock's 50-day simple moving average is $384.57 and its two-hundred day simple moving average is $376.97. Stryker Corporation has a 1 year low of $314.93 and a 1 year high of $406.19. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69.

Stryker (NYSE:SYK - Get Free Report) last announced its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.73 by $0.11. The firm had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.68 billion. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The business's revenue was up 11.9% compared to the same quarter last year. During the same period in the prior year, the company earned $2.50 EPS. As a group, sell-side analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a $0.84 dividend. The ex-dividend date is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.85%. Stryker's dividend payout ratio is presently 45.41%.

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.