Cadinha & Co. LLC Sells 335 Shares of Stryker Co. (NYSE:SYK)

Cadinha & Co. LLC trimmed its stake in shares of Stryker Co. (NYSE:SYK) by 27.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 871 shares of the medical technology company’s stock after selling 335 shares during the quarter. Cadinha & Co. LLC’s holdings in Stryker were worth $324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of SYK. Kohmann Bosshard Financial Services LLC bought a new position in shares of Stryker during the fourth quarter valued at about $25,000. Capital A Wealth Management LLC bought a new stake in shares of Stryker in the 4th quarter worth approximately $26,000. Rakuten Securities Inc. grew 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 buying an additional 68 shares during the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Stryker in the 4th quarter worth approximately $30,000. Finally, BankPlus Trust Department bought a new stake in shares of Stryker in the 4th quarter worth approximately $33,000. 77.09% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the transaction, the director now directly owns 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 5.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SYK shares. JMP Securities restated a “market perform” rating on shares of Stryker in a research note on Monday, May 5th. Wall Street Zen cut Stryker from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Argus set a $450.00 target price on Stryker in a research note on Monday, February 3rd. The Goldman Sachs Group set a $422.00 target price on Stryker in a research note on Tuesday, March 4th. Finally, Truist Financial raised their price objective on Stryker from $390.00 to $400.00 and gave the company a “hold” rating in a research report on Monday, May 5th. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $427.30.

Stryker Price Performance

Shares of NYSE SYK opened at $382.12 on Friday. The stock’s 50-day moving average is $368.57 and its two-hundred day moving average is $376.25. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19. The company has a market cap of $145.85 billion, a price-to-earnings ratio of 49.24, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93.

Stryker (NYSE:SYK) last released its quarterly earnings data 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. The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $5.68 billion. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The business’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.50 EPS. Analysts forecast that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.88%. Stryker’s dividend payout ratio is currently 45.41%.

Stryker Company 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.