Arcadia Investment Management Corp MI Cuts Holdings in Stryker Co. (NYSE:SYK)

Arcadia Investment Management Corp MI lowered its stake in Stryker Co. (NYSE:SYK) by 0.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,964 shares of the medical technology company’s stock after selling 357 shares during the period. Stryker accounts for approximately 4.2% of Arcadia Investment Management Corp MI’s holdings, making the stock its 4th biggest holding. Arcadia Investment Management Corp MI’s holdings in Stryker were worth $25,275,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Janney Capital Management LLC bought a new stake in Stryker in the third quarter valued at $285,000. Private Wealth Partners LLC boosted its holdings in Stryker by 2.4% in the third quarter. Private Wealth Partners LLC now owns 32,740 shares of the medical technology company’s stock valued at $11,827,000 after acquiring an additional 754 shares in the last quarter. Optas LLC boosted its holdings in shares of Stryker by 6.1% during the 3rd quarter. Optas LLC now owns 747 shares of the medical technology company’s stock valued at $270,000 after buying an additional 43 shares in the last quarter. Princeton Global Asset Management LLC boosted its holdings in shares of Stryker by 207.2% during the 3rd quarter. Princeton Global Asset Management LLC now owns 298 shares of the medical technology company’s stock valued at $108,000 after buying an additional 201 shares in the last quarter. Finally, Argonautica Private Wealth Management Inc. boosted its holdings in shares of Stryker by 1.7% during the 3rd quarter. Argonautica Private Wealth Management Inc. now owns 7,580 shares of the medical technology company’s stock valued at $2,738,000 after buying an additional 126 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the sale, the director now owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the sale, the director now owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,685,213.16. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 200,068 shares of company stock valued at $65,151,372. 5.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. UBS Group boosted their target price on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday. Stifel Nicolaus dropped their target price on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Piper Sandler restated an “overweight” rating and set a $420.00 target price (up previously from $380.00) on shares of Stryker in a report on Wednesday. Canaccord Genuity Group boosted their target price on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Truist Financial boosted their target price on shares of Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a report on Wednesday. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $393.65.

Stryker Price Performance

Shares of NYSE:SYK opened at $367.15 on Friday. Stryker Co. has a fifty-two week low of $266.93 and a fifty-two week high of $374.63. The business has a 50-day simple moving average of $360.18 and a two-hundred day simple moving average of $344.31. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.95 and a current ratio of 1.91. The firm has a market cap of $139.96 billion, a price-to-earnings ratio of 39.35, a price-to-earnings-growth ratio of 2.69 and a beta of 0.91.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the previous year, the firm earned $2.46 EPS. Stryker’s revenue was up 11.9% on a year-over-year basis. On average, analysts expect that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Monday, September 30th. Stryker’s dividend payout ratio (DPR) is 34.30%.

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.