Argus Investors Counsel Inc. Trims Holdings in Stryker Co. (NYSE:SYK)

Argus Investors Counsel Inc. lessened its stake in shares of Stryker Co. (NYSE:SYK) by 8.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,272 shares of the medical technology company’s stock after selling 469 shares during the period. Stryker accounts for approximately 1.3% of Argus Investors Counsel Inc.’s portfolio, making the stock its 27th biggest position. Argus Investors Counsel Inc.’s holdings in Stryker were worth $1,898,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of SYK. Alhambra Investment Management LLC increased its holdings in shares of Stryker by 1.5% during the 4th quarter. Alhambra Investment Management LLC now owns 1,997 shares of the medical technology company’s stock worth $719,000 after buying an additional 29 shares during the last quarter. Capital & Planning LLC increased its stake in Stryker by 3.6% during the fourth quarter. Capital & Planning LLC now owns 841 shares of the medical technology company’s stock worth $304,000 after acquiring an additional 29 shares during the last quarter. Concord Wealth Partners raised its position in Stryker by 2.2% in the fourth quarter. Concord Wealth Partners now owns 1,396 shares of the medical technology company’s stock valued at $503,000 after purchasing an additional 30 shares during the period. Avestar Capital LLC grew its holdings in shares of Stryker by 1.1% during the 3rd quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company’s stock worth $1,065,000 after purchasing an additional 31 shares during the period. Finally, Union Savings Bank increased its position in shares of Stryker by 1.0% during the 4th quarter. Union Savings Bank now owns 3,162 shares of the medical technology company’s stock worth $1,138,000 after purchasing an additional 31 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $420.00 target price (up previously from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Needham & Company LLC restated a “buy” rating and set a $442.00 price target on shares of Stryker in a research note on Wednesday, January 29th. Morgan Stanley upgraded Stryker from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $370.00 to $445.00 in a report on Monday, December 2nd. BTIG Research increased their price objective on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Royal Bank of Canada upped their price target on Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $419.37.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the sale, the director now directly owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 5.50% of the stock is currently owned by corporate insiders.

Stryker Price Performance

Shares of NYSE:SYK opened at $399.01 on Thursday. The company has a 50-day simple moving average of $377.08 and a 200-day simple moving average of $364.24. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The stock has a market capitalization of $152.11 billion, a price-to-earnings ratio of 51.42, a PEG ratio of 2.78 and a beta of 0.96. Stryker Co. has a one year low of $314.93 and a one year high of $406.19.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter in the previous year, the firm earned $3.46 earnings per share. On average, analysts predict that Stryker Co. will post 13.5 EPS for the current year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.84%. Stryker’s dividend payout ratio (DPR) is 43.30%.

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.