Stryker Co. (NYSE:SYK) Position Decreased by Arcadia Investment Management Corp MI

Arcadia Investment Management Corp MI cut its stake in shares of Stryker Co. (NYSE:SYK) by 0.1% during the second quarter, Holdings Channel.com reports. The institutional investor owned 70,321 shares of the medical technology company’s stock after selling 40 shares during the quarter. Stryker accounts for about 4.1% of Arcadia Investment Management Corp MI’s investment portfolio, making the stock its 6th biggest holding. Arcadia Investment Management Corp MI’s holdings in Stryker were worth $23,927,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Atlantic Edge Private Wealth Management LLC purchased a new stake in Stryker in the fourth quarter valued at $1,561,000. Koshinski Asset Management Inc. purchased a new stake in Stryker in the first quarter valued at $795,000. Envestnet Portfolio Solutions Inc. boosted its holdings in Stryker by 43.1% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock valued at $6,617,000 after purchasing an additional 5,565 shares during the last quarter. Norden Group LLC purchased a new stake in Stryker in the first quarter valued at $4,027,000. Finally, International Assets Investment Management LLC purchased a new stake in Stryker in the first quarter valued at $21,970,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Price Performance

NYSE SYK traded up $0.43 during trading hours on Friday, hitting $358.43. 109,406 shares of the company’s stock traded hands, compared to its average volume of 1,290,428. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $364.36. The company has a market capitalization of $136.59 billion, a PE ratio of 40.87, a PEG ratio of 2.78 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. The firm’s 50-day moving average is $338.69 and its 200-day moving average is $341.91.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same quarter in the prior year, the company earned $2.54 EPS. Stryker’s revenue was up 8.5% compared to the same quarter last year. Equities analysts forecast that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.89%. Stryker’s dividend payout ratio is presently 36.53%.

Analyst Ratings Changes

SYK has been the subject of a number of analyst reports. Evercore ISI decreased their price objective on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. Stifel Nicolaus decreased their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research report on Wednesday, July 31st. Royal Bank of Canada reiterated an “outperform” rating and issued a $386.00 price objective on shares of Stryker in a research report on Wednesday, July 31st. Finally, UBS Group upped their price objective on shares of Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Stryker has a consensus rating of “Moderate Buy” and an average target price of $377.11.

Insider Activity at Stryker

In related news, insider Viju Menon sold 600 shares of the company’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Viju Menon sold 600 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the sale, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. The disclosure for this sale can be found here. In the last quarter, insiders sold 210,600 shares of company stock valued at $68,330,400. Corporate insiders own 5.90% of the company’s stock.

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.