Arcadia Investment Management Corp MI Sells 2,763 Shares of Stryker Corporation (NYSE:SYK)

Arcadia Investment Management Corp MI decreased its stake in Stryker Corporation (NYSE:SYK - Free Report) by 4.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 67,096 shares of the medical technology company's stock after selling 2,763 shares during the period. Stryker makes up 4.5% of Arcadia Investment Management Corp MI's portfolio, making the stock its 3rd largest holding. Arcadia Investment Management Corp MI's holdings in Stryker were worth $24,976,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of SYK. Vanguard Group Inc. boosted its stake in Stryker by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company's stock worth $11,773,213,000 after buying an additional 252,188 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Stryker by 0.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,109,722 shares of the medical technology company's stock worth $4,000,056,000 after buying an additional 54,693 shares in the last quarter. FMR LLC boosted its stake in Stryker by 10.0% during the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock worth $2,892,946,000 after buying an additional 727,850 shares in the last quarter. Geode Capital Management LLC boosted its stake in Stryker by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company's stock worth $2,539,033,000 after buying an additional 168,436 shares in the last quarter. Finally, Norges Bank acquired a new stake in Stryker during the fourth quarter worth $1,710,744,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on SYK. Citigroup reissued a "buy" rating and set a $455.00 price objective (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Evercore ISI increased their price objective on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a report on Tuesday. Needham & Company LLC restated a "buy" rating and issued a $442.00 price target on shares of Stryker in a research note on Friday, March 21st. Truist Financial lifted their target price on Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a report on Monday, May 5th. Finally, Sanford C. Bernstein set a $450.00 price target on Stryker in a research report on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $428.55.

Stryker Price Performance

NYSE:SYK traded up $2.55 during trading hours on Wednesday, hitting $392.05. 871,885 shares of the stock were exchanged, compared to its average volume of 1,348,615. The company has a market cap of $149.64 billion, a P/E ratio of 52.98, a P/E/G ratio of 2.96 and a beta of 0.91. The firm's fifty day moving average price is $383.81 and its 200 day moving average price is $376.67. Stryker Corporation has a 52-week low of $314.93 and a 52-week 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 analysts' consensus estimates of $2.73 by $0.11. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. During the same quarter in the previous year, the company earned $2.50 earnings per share. The firm's quarterly revenue was up 11.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a dividend of $0.84 per share. The ex-dividend date is Monday, June 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. Stryker's dividend payout ratio (DPR) is 45.41%.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the transaction, the director directly owned 3,417,326 shares of the company's stock, valued at approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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.