Rehmann Capital Advisory Group Sells 2,369 Shares of Stryker Corporation (NYSE:SYK)

Rehmann Capital Advisory Group reduced its stake in Stryker Corporation (NYSE:SYK - Free Report) by 3.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 portfolio, making the stock its 15th biggest holding. Rehmann Capital Advisory Group's holdings in Stryker were worth $22,490,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC raised its holdings in shares of Stryker by 15.4% in the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock worth $1,643,000 after purchasing an additional 609 shares during the period. Assetmark Inc. increased its position in Stryker by 28.1% during the 4th quarter. Assetmark Inc. now owns 1,298 shares of the medical technology company's stock worth $467,000 after purchasing an additional 285 shares in the last quarter. Proficio Capital Partners LLC increased its position in Stryker by 46.2% during the 4th quarter. Proficio Capital Partners LLC now owns 1,656 shares of the medical technology company's stock worth $596,000 after purchasing an additional 523 shares in the last quarter. NBT Bank N A NY increased its position in Stryker by 20.1% during the 4th quarter. NBT Bank N A NY now owns 4,240 shares of the medical technology company's stock worth $1,527,000 after purchasing an additional 709 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its position in Stryker by 5.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 51,886 shares of the medical technology company's stock worth $18,682,000 after purchasing an additional 2,883 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Trading Down 1.4%

SYK traded down $5.53 during trading on Friday, reaching $389.24. The company had a trading volume of 825,133 shares, compared to its average volume of 1,352,494. The firm's 50-day simple moving average is $384.79 and its 200 day simple moving average is $377.10. The company has a market cap of $148.57 billion, a price-to-earnings ratio of 52.60, a PEG ratio of 2.98 and a beta of 0.91. Stryker Corporation has a 12-month low of $314.93 and a 12-month high of $406.19. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.00 and a current ratio of 1.64.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping analysts' consensus estimates 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 return on equity of 23.74% and a net margin of 12.31%. Stryker's revenue was up 11.9% on a year-over-year basis. During the same quarter last year, the business posted $2.50 EPS. Equities research analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

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

Insider Activity

In other news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction dated 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 sale, the director directly owned 3,417,326 shares in the company, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 5.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. Evercore ISI increased their target price on shares of Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research report on Tuesday. Truist Financial raised their price objective on Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research note on Monday, May 5th. Roth Mkm raised their price objective on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Wall Street Zen cut Stryker from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Finally, Citigroup restated 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. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Stryker has an average rating of "Moderate Buy" and an average price target of $428.55.

Stryker 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.