Auto Owners Insurance Co Has $1.56 Million Stake in Stryker Corporation (NYSE:SYK)

Auto Owners Insurance Co trimmed its stake in Stryker Corporation (NYSE:SYK - Free Report) by 49.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,190 shares of the medical technology company's stock after selling 4,103 shares during the period. Auto Owners Insurance Co's holdings in Stryker were worth $1,560,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Capital A Wealth Management LLC bought a new position in Stryker in the 4th quarter valued at about $26,000. Goodman Advisory Group LLC bought a new stake in Stryker in the first quarter worth $32,000. City Holding Co. raised its stake in shares of Stryker by 528.6% during the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after acquiring an additional 74 shares during the last quarter. Smallwood Wealth Investment Management LLC bought a new position in shares of Stryker during the first quarter valued at about $40,000. Finally, Itau Unibanco Holding S.A. bought a new position in shares of Stryker during the fourth quarter valued at about $42,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Up 2.1%

NYSE:SYK opened at $395.63 on Wednesday. The company has a market cap of $151.01 billion, a PE ratio of 53.46, a P/E/G ratio of 2.87 and a beta of 0.91. Stryker Corporation has a twelve month low of $314.93 and a twelve month high of $406.19. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. The company's 50 day moving average is $385.67 and its two-hundred day moving average is $378.19.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, beating the consensus estimate 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 net margin of 12.31% and a return on equity of 23.74%. The business's revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.50 EPS. Analysts anticipate that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.85%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio (DPR) is presently 45.41%.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were 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 owned 3,417,326 shares of the company's stock, valued at approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Truist Financial upped their price objective on shares of Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a report on Monday, May 5th. Citigroup reiterated a "buy" rating and set a $455.00 price target (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Evercore ISI increased their price target on shares of Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a report on Monday, May 5th. Finally, Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $428.55.

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.

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