Argus Investors Counsel Inc. Sells 882 Shares of Stryker Co. (NYSE:SYK)

Argus Investors Counsel Inc. cut its stake in shares of Stryker Co. (NYSE:SYK - Free Report) by 16.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,390 shares of the medical technology company's stock after selling 882 shares during the quarter. Stryker accounts for 1.2% of Argus Investors Counsel Inc.'s portfolio, making the stock its 26th largest holding. Argus Investors Counsel Inc.'s holdings in Stryker were worth $1,634,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Stryker during the 4th quarter worth $25,000. Capital A Wealth Management LLC bought a new stake in shares of Stryker during the 4th quarter worth $26,000. Rakuten Securities Inc. boosted its stake in shares of Stryker by 618.2% during the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock worth $28,000 after acquiring an additional 68 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in shares of Stryker during the 4th quarter worth $30,000. Finally, City Holding Co. boosted its stake in shares of Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after acquiring an additional 74 shares in the last quarter. 77.09% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the sale, the director now owns 3,417,326 shares of the company's stock, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 5.90% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Needham & Company LLC reissued a "buy" rating and set a $442.00 price objective on shares of Stryker in a research note on Friday, March 21st. BTIG Research set a $403.00 target price on Stryker and gave the stock a "buy" rating in a research report on Monday, April 14th. Truist Financial raised their target price on Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research report on Monday, May 5th. Sanford C. Bernstein set a $450.00 target price on Stryker in a research report on Monday, May 5th. Finally, JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Stryker currently has an average rating of "Moderate Buy" and an average price target of $427.30.

Stryker Stock Down 0.9%

SYK traded down $3.48 during trading on Friday, reaching $377.01. 876,021 shares of the stock traded hands, compared to its average volume of 1,330,549. The stock has a market cap of $143.90 billion, a price-to-earnings ratio of 48.58, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The stock's 50-day simple moving average is $372.73 and its two-hundred day simple moving average is $375.83.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.73 by $0.11. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The firm had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.68 billion. During the same quarter last year, the firm earned $2.50 earnings per share. The business's revenue for the quarter was up 11.9% on a year-over-year basis. As a group, equities research analysts expect that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a $0.84 dividend. The ex-dividend date is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.89%. Stryker's dividend payout ratio is currently 45.41%.

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.