Rehmann Capital Advisory Group Has $22.49 Million Stake in Stryker Corporation (NYSE:SYK)

Rehmann Capital Advisory Group lowered its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 3.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 60,415 shares of the medical technology company's stock after selling 2,369 shares during the quarter. Stryker comprises approximately 1.4% of Rehmann Capital Advisory Group's investment portfolio, making the stock its 15th biggest position. Rehmann Capital Advisory Group's holdings in Stryker were worth $22,490,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Mascoma Wealth Management LLC lifted its stake in shares of Stryker by 22.7% in the 4th quarter. Mascoma Wealth Management LLC now owns 146 shares of the medical technology company's stock valued at $53,000 after acquiring an additional 27 shares during the last quarter. Continuum Advisory LLC lifted its stake in shares of Stryker by 5.8% in the 1st quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company's stock valued at $198,000 after acquiring an additional 29 shares during the last quarter. Oakworth Capital Inc. lifted its stake in shares of Stryker by 0.5% in the 1st quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company's stock valued at $2,283,000 after acquiring an additional 29 shares during the last quarter. Ironwood Investment Counsel LLC lifted its stake in shares of Stryker by 0.9% in 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 acquiring an additional 30 shares during the last quarter. Finally, ICW Investment Advisors LLC lifted its stake in shares of Stryker by 0.6% in 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 acquiring an additional 30 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Trading Down 0.7%

Shares of Stryker stock opened at $389.65 on Wednesday. The firm has a market cap of $148.73 billion, a price-to-earnings ratio of 52.66, a PEG ratio of 2.96 and a beta of 0.91. The business has a 50-day moving average price of $383.81 and a 200-day moving average price of $376.67. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. Stryker Corporation has a twelve month low of $314.93 and a twelve month high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results 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. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter last year, the firm earned $2.50 EPS. The firm's revenue for the quarter was up 11.9% compared to the same quarter last year. Equities research analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's payout ratio is currently 45.41%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on SYK shares. Wall Street Zen lowered Stryker from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Roth Mkm lifted their price objective on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Truist Financial lifted their price objective on Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research report on Monday, May 5th. JMP Securities reissued a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Finally, BTIG Research set a $403.00 price objective on Stryker and gave the stock a "buy" rating in a research report on Monday, April 14th. Five research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $428.55.

Insider Transactions at Stryker

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 completion of the sale, the director 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 5.20% of the stock is currently owned by insiders.

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.

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