Rehmann Capital Advisory Group Decreases Position in Stryker Co. (NYSE:SYK)

Rehmann Capital Advisory Group trimmed its position in shares of Stryker Co. (NYSE:SYK - Free Report) by 4.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 62,784 shares of the medical technology company's stock after selling 2,635 shares during the quarter. Stryker makes up 1.4% of Rehmann Capital Advisory Group's holdings, making the stock its 14th biggest holding. Rehmann Capital Advisory Group's holdings in Stryker were worth $22,606,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in SYK. Kohmann Bosshard Financial Services LLC bought a new stake in Stryker in the fourth quarter valued at approximately $25,000. Rakuten Securities Inc. raised its position in shares of Stryker by 618.2% in the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock worth $28,000 after acquiring an additional 68 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Stryker during the 4th quarter valued at about $30,000. BankPlus Trust Department acquired a new stake in Stryker during the fourth quarter worth approximately $33,000. Finally, Activest Wealth Management bought a new stake in Stryker in the fourth quarter worth approximately $36,000. 77.09% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Canaccord Genuity Group increased their target price on shares of Stryker from $420.00 to $435.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Argus set a $450.00 price objective on Stryker in a research note on Monday, February 3rd. Evercore ISI cut their target price on Stryker from $400.00 to $390.00 and set an "outperform" rating on the stock in a research report on Friday. The Goldman Sachs Group set a $422.00 price objective on Stryker in a research note on Tuesday, March 4th. Finally, Truist Financial increased their target price on shares of Stryker from $409.00 to $413.00 and gave the company a "hold" rating in a report on Thursday, January 30th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $426.53.

Stryker Stock Performance

Shares of NYSE:SYK traded up $4.61 during trading on Friday, hitting $378.60. 3,709,100 shares of the company were exchanged, compared to its average volume of 1,356,830. The company has a market cap of $144.51 billion, a PE ratio of 48.79, a P/E/G ratio of 2.93 and a beta of 0.93. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The stock has a 50 day moving average of $366.38 and a 200 day moving average of $373.73.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results 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 return on equity of 23.58% and a net margin of 13.25%. The firm had revenue of $5.87 billion for the quarter, compared to analysts' expectations of $5.68 billion. During the same period in the prior year, the business posted $2.50 earnings per share. The company's revenue was up 11.9% on a year-over-year basis. As a group, equities research analysts predict that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were issued a $0.84 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.89%. Stryker's payout ratio is currently 45.41%.

Insider Activity

In related news, Director Allan C. Golston sold 2,458 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the transaction, the director now owns 14,895 shares of the company's stock, valued at $5,705,827.65. This represents a 14.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate 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.