Arrow Financial Corp Lowers Stock Position in Stryker Corporation (NYSE:SYK)

Arrow Financial Corp trimmed its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 32.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,063 shares of the medical technology company's stock after selling 4,425 shares during the quarter. Arrow Financial Corp's holdings in Stryker were worth $3,374,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently modified their holdings of the business. Brighton Jones LLC grew its holdings in shares of Stryker by 15.4% during the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock worth $1,643,000 after buying an additional 609 shares in the last quarter. Proficio Capital Partners LLC raised its holdings in Stryker by 46.2% in the 4th quarter. Proficio Capital Partners LLC now owns 1,656 shares of the medical technology company's stock valued at $596,000 after acquiring an additional 523 shares in the last quarter. TD Private Client Wealth LLC raised its holdings in shares of Stryker by 4.4% during the 4th quarter. TD Private Client Wealth LLC now owns 5,157 shares of the medical technology company's stock worth $1,857,000 after buying an additional 217 shares in the last quarter. Plancorp LLC raised its holdings in shares of Stryker by 27.9% during the 4th quarter. Plancorp LLC now owns 941 shares of the medical technology company's stock worth $339,000 after buying an additional 205 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in Stryker during the 4th quarter worth $660,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

SYK has been the topic of a number of recent analyst reports. Roth Mkm boosted their price objective on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Sanford C. Bernstein set a $450.00 price objective on Stryker in a report on Monday, May 5th. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Citigroup reaffirmed a "buy" rating and set a $455.00 price objective (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Finally, Wall Street Zen raised Stryker from a "hold" rating to a "buy" rating in a research report on Friday. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, Stryker has an average rating of "Moderate Buy" and an average target price of $428.55.

Stryker Trading Down 0.5%

Shares of SYK stock traded down $1.82 on Monday, reaching $387.58. 791,681 shares of the stock were exchanged, compared to its average volume of 1,349,256. The stock has a market cap of $147.94 billion, a P/E ratio of 52.38, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. The firm has a 50 day moving average of $385.67 and a two-hundred day moving average of $378.19. Stryker Corporation has a 1-year low of $314.93 and a 1-year high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, beating analysts' consensus estimates of $2.73 by $0.11. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The business's revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter last year, the business earned $2.50 earnings per share. On average, research analysts anticipate that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.87%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's payout ratio is 45.41%.

Insider Activity

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the firm's 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 transaction, the director directly owned 3,417,326 shares of the company's stock, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate 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.