Stryker Co. (NYSE:SYK) Shares Sold by Argus Investors Counsel Inc.

Argus Investors Counsel Inc. trimmed its holdings in Stryker Co. (NYSE:SYKFree Report) by 12.8% during the first quarter, HoldingsChannel.com reports. The fund owned 7,044 shares of the medical technology company’s stock after selling 1,035 shares during the period. Stryker makes up approximately 1.5% of Argus Investors Counsel Inc.’s holdings, making the stock its 16th largest holding. Argus Investors Counsel Inc.’s holdings in Stryker were worth $2,521,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SYK. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of Stryker by 6.0% in the 3rd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 757 shares of the medical technology company’s stock valued at $207,000 after acquiring an additional 43 shares during the period. Main Street Financial Solutions LLC acquired a new position in shares of Stryker in the 3rd quarter valued at $201,000. Private Advisor Group LLC increased its holdings in shares of Stryker by 1.7% in the 3rd quarter. Private Advisor Group LLC now owns 13,434 shares of the medical technology company’s stock valued at $3,670,000 after acquiring an additional 229 shares during the period. SageView Advisory Group LLC increased its holdings in shares of Stryker by 4.1% in the 3rd quarter. SageView Advisory Group LLC now owns 1,390 shares of the medical technology company’s stock valued at $380,000 after acquiring an additional 55 shares during the period. Finally, MGO One Seven LLC increased its holdings in shares of Stryker by 29.8% in the 3rd quarter. MGO One Seven LLC now owns 2,915 shares of the medical technology company’s stock valued at $796,000 after acquiring an additional 669 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SYK has been the topic of several recent research reports. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and boosted their price objective for the company from $315.00 to $360.00 in a research note on Wednesday, January 31st. Robert W. Baird boosted their price objective on shares of Stryker from $367.00 to $378.00 and gave the company an “outperform” rating in a research note on Wednesday, May 1st. Piper Sandler boosted their price objective on shares of Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. TD Cowen boosted their price objective on shares of Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a research note on Thursday, April 11th. Finally, Wells Fargo & Company boosted their price objective on shares of Stryker from $364.00 to $381.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $367.32.

View Our Latest Report on SYK

Stryker Price Performance

Shares of Stryker stock traded down $5.30 on Thursday, hitting $330.12. The company’s stock had a trading volume of 941,684 shares, compared to its average volume of 1,332,319. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $361.41. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56. The firm has a fifty day moving average price of $340.18 and a 200-day moving average price of $323.43. The company has a market capitalization of $125.76 billion, a P/E ratio of 37.68, a price-to-earnings-growth ratio of 2.60 and a beta of 0.91.

Stryker (NYSE:SYKGet Free Report) last released its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, topping the consensus estimate of $2.36 by $0.14. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The business had revenue of $5.24 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same period in the previous year, the firm earned $2.14 EPS. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, equities research analysts expect that Stryker Co. will post 11.95 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be given a $0.80 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.20 annualized dividend and a dividend yield of 0.97%. Stryker’s dividend payout ratio is presently 36.53%.

Insider Buying and Selling

In related news, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the sale, the chief accounting officer now directly owns 3,675 shares in the company, valued at approximately $1,317,414. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 5.90% of the company’s stock.

Stryker Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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