Argus Investors Counsel Inc. Sells 749 Shares of Stryker Corporation $SYK

Key Points

• Argus Investors Counsel Inc. decreased its holdings in Stryker Corporation by 17.1%, now owning 3,641 shares worth approximately $1.44 million after selling 749 shares in the second quarter.
• Analysts have a consensus rating of "Moderate Buy" for Stryker, with a current target price averaging $430.33 as several firms have recently updated their price objectives.
• Stryker announced a quarterly dividend of $0.84 per share, with a payment date set for October 31st, representing an annualized yield of 0.9%.

Argus Investors Counsel Inc. lessened its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 17.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,641 shares of the medical technology company's stock after selling 749 shares during the period. Argus Investors Counsel Inc.'s holdings in Stryker were worth $1,441,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC grew its stake in shares of Stryker by 15.4% in the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock valued at $1,643,000 after buying an additional 609 shares during the period. Centaurus Financial Inc. boosted its holdings in Stryker by 16.8% during the fourth quarter. Centaurus Financial Inc. now owns 1,246 shares of the medical technology company's stock worth $449,000 after buying an additional 179 shares in the last quarter. Moody National Bank Trust Division acquired a new stake in shares of Stryker in the first quarter valued at approximately $212,000. BTC Capital Management Inc. lifted its stake in shares of Stryker by 6.7% during the first quarter. BTC Capital Management Inc. now owns 2,741 shares of the medical technology company's stock valued at $1,020,000 after buying an additional 171 shares during the period. Finally, Beese Fulmer Investment Management Inc. raised its stake in Stryker by 0.6% during the first quarter. Beese Fulmer Investment Management Inc. now owns 42,663 shares of the medical technology company's stock worth $15,881,000 after purchasing an additional 246 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SYK. Rothschild Redb raised shares of Stryker to a "hold" rating in a research note on Thursday, September 18th. Wells Fargo & Company raised their price objective on shares of Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Needham & Company LLC boosted their price objective on shares of Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research report on Friday, August 1st. Rothschild & Co Redburn began coverage on shares of Stryker in a research report on Thursday, September 18th. They set a "neutral" rating and a $420.00 target price for the company. Finally, Redburn Partners set a $420.00 target price on Stryker in a report on Thursday, September 18th. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Stryker currently has a consensus rating of "Moderate Buy" and a consensus target price of $430.33.

Stryker Stock Up 0.1%

Stryker stock opened at $368.83 on Friday. The stock's fifty day moving average is $385.71 and its two-hundred day moving average is $379.08. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $406.19. The stock has a market cap of $141.01 billion, a PE ratio of 48.85, a P/E/G ratio of 2.66 and a beta of 0.93.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, topping analysts' consensus estimates of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The business had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same period in the prior year, the firm posted $2.81 EPS. The business's revenue for the quarter was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, sell-side analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker's dividend payout ratio (DPR) is currently 44.50%.

Insider Activity at Stryker

In other news, insider Viju Menon sold 500 shares of the stock in a transaction that occurred on Monday, August 25th. The stock was sold at an average price of $390.61, for a total transaction of $195,305.00. Following the completion of the sale, the insider owned 12,511 shares of the company's stock, valued at approximately $4,886,921.71. This represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total value of $75,290,000.00. Following the completion of the sale, the director owned 3,222,108 shares of the company's stock, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is owned by company insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.