Monarch Capital Management Inc. Sells 1,093 Shares of Stryker Co. (NYSE:SYK)

Monarch Capital Management Inc. trimmed its position in Stryker Co. (NYSE:SYK - Free Report) by 6.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 14,896 shares of the medical technology company's stock after selling 1,093 shares during the quarter. Stryker makes up 1.5% of Monarch Capital Management Inc.'s holdings, making the stock its 24th largest position. Monarch Capital Management Inc.'s holdings in Stryker were worth $5,558,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the company. Elefante Mark B acquired a new stake in Stryker during the fourth quarter worth approximately $337,000. Harbor Capital Advisors Inc. acquired a new stake in Stryker during the first quarter worth approximately $1,840,000. Metis Global Partners LLC lifted its position in Stryker by 10.2% during the fourth quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company's stock worth $6,064,000 after acquiring an additional 1,561 shares during the last quarter. Fred Alger Management LLC lifted its position in Stryker by 415.8% during the fourth quarter. Fred Alger Management LLC now owns 24,011 shares of the medical technology company's stock worth $8,664,000 after acquiring an additional 19,356 shares during the last quarter. Finally, US Bancorp DE lifted its position in Stryker by 0.5% during the fourth quarter. US Bancorp DE now owns 182,825 shares of the medical technology company's stock worth $65,829,000 after acquiring an additional 976 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Stryker Price Performance

Shares of NYSE SYK traded down $0.65 during midday trading on Thursday, reaching $380.43. 877,833 shares of the company were exchanged, compared to its average volume of 1,330,802. The stock's 50-day moving average price is $371.93 and its 200-day moving average price is $375.92. The stock has a market cap of $145.21 billion, a P/E ratio of 49.02, a PEG ratio of 2.93 and a beta of 0.91. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.11. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. During the same quarter in the prior year, the business earned $2.50 earnings per share. The business's quarterly revenue was up 11.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued 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 0.88%. Stryker's dividend payout ratio is currently 45.41%.

Analyst Ratings Changes

Several brokerages have issued reports on SYK. Sanford C. Bernstein set a $450.00 price objective on shares of Stryker in a research report on Monday, May 5th. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Evercore ISI lowered their target price on shares of Stryker from $400.00 to $390.00 and set an "outperform" rating on the stock in a report on Friday, May 2nd. Truist Financial raised their target price on shares of Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a report on Monday, May 5th. Finally, Citigroup reaffirmed a "buy" rating and set a $455.00 target price (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $427.30.

Insider Activity

In other news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the completion of the sale, the director now directly owns 3,417,326 shares of the company's stock, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 5.90% of the company's stock.

About Stryker

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.