Red Cedar Investment Management LLC Sells 2,379 Shares of Stryker Corporation $SYK

Red Cedar Investment Management LLC trimmed its position in Stryker Corporation (NYSE:SYK) by 34.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 4,563 shares of the medical technology company’s stock after selling 2,379 shares during the period. Red Cedar Investment Management LLC’s holdings in Stryker were worth $1,604,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of SYK. Brighton Jones LLC increased its holdings in shares of Stryker by 15.4% in the fourth 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. Schnieders Capital Management LLC. purchased a new position in Stryker during the second quarter worth about $205,000. Marshall Wace LLP increased its stake in Stryker by 107.9% in the 2nd quarter. Marshall Wace LLP now owns 5,700 shares of the medical technology company’s stock worth $2,255,000 after acquiring an additional 77,831 shares during the last quarter. Nebula Research & Development LLC purchased a new stake in shares of Stryker in the 2nd quarter valued at about $219,000. Finally, HUB Investment Partners LLC purchased a new stake in shares of Stryker in the 2nd quarter valued at about $253,000. 77.09% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Stryker news, VP Robert S. Fletcher sold 4,544 shares of the firm’s stock in a transaction on Thursday, May 28th. The stock was sold at an average price of $306.87, for a total transaction of $1,394,417.28. Following the completion of the transaction, the vice president owned 10,582 shares of the company’s stock, valued at approximately $3,247,298.34. This trade represents a 30.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, VP M Kathryn Fink sold 5,220 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $283.85, for a total transaction of $1,481,697.00. Following the sale, the vice president owned 13,137 shares in the company, valued at approximately $3,728,937.45. This trade represents a 28.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 323,264 shares of company stock worth $100,659,489. 4.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the company. JPMorgan Chase & Co. cut their price objective on Stryker from $445.00 to $400.00 and set an “overweight” rating for the company in a report on Friday, May 1st. Wells Fargo & Company lowered their target price on shares of Stryker from $456.00 to $418.00 and set an “overweight” rating on the stock in a research note on Friday, May 1st. Needham & Company LLC dropped their target price on shares of Stryker from $454.00 to $418.00 and set a “buy” rating for the company in a research report on Friday, May 1st. Citigroup cut their price target on shares of Stryker from $420.00 to $385.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. Finally, UBS Group lowered their price objective on shares of Stryker from $400.00 to $380.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 17th. Sixteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $395.33.

Stryker Price Performance

Shares of Stryker stock opened at $314.41 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.11 and a quick ratio of 1.25. Stryker Corporation has a one year low of $281.00 and a one year high of $404.87. The business’s 50 day simple moving average is $317.55 and its two-hundred day simple moving average is $345.01. The stock has a market capitalization of $120.53 billion, a P/E ratio of 36.39, a price-to-earnings-growth ratio of 1.90 and a beta of 0.78.

Stryker (NYSE:SYK) last posted its earnings results on Thursday, April 30th. The medical technology company reported $2.60 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.38). Stryker had a return on equity of 23.42% and a net margin of 13.20%.The firm had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $6.34 billion. During the same quarter last year, the company posted $2.84 EPS. The firm’s revenue was up 2.6% on a year-over-year basis. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. Analysts forecast that Stryker Corporation will post 14.98 EPS for the current year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be issued a $0.88 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $3.52 dividend on an annualized basis and a yield of 1.1%. Stryker’s dividend payout ratio is 40.74%.

About Stryker

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.