Argonautica Private Wealth Management Inc. Raises Position in Stryker Co. (NYSE:SYK)

Argonautica Private Wealth Management Inc. boosted its stake in Stryker Co. (NYSE:SYK) by 1.7% during the third quarter, HoldingsChannel reports. The institutional investor owned 7,580 shares of the medical technology company’s stock after buying an additional 126 shares during the quarter. Argonautica Private Wealth Management Inc.’s holdings in Stryker were worth $2,738,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Stryker by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock valued at $11,258,373,000 after acquiring an additional 309,592 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in Stryker by 10.4% in the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after acquiring an additional 813,311 shares during the last quarter. Clearbridge Investments LLC raised its holdings in Stryker by 2.9% in the 2nd quarter. Clearbridge Investments LLC now owns 2,323,452 shares of the medical technology company’s stock valued at $790,554,000 after acquiring an additional 66,482 shares during the last quarter. TD Asset Management Inc raised its holdings in Stryker by 2.9% in the 1st quarter. TD Asset Management Inc now owns 1,601,380 shares of the medical technology company’s stock valued at $573,086,000 after acquiring an additional 44,765 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Stryker by 4.0% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,209,769 shares of the medical technology company’s stock valued at $411,624,000 after acquiring an additional 46,375 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Price Performance

Stryker stock opened at $367.15 on Friday. The stock has a market cap of $139.96 billion, a P/E ratio of 39.35, a price-to-earnings-growth ratio of 2.69 and a beta of 0.91. The company has a fifty day simple moving average of $360.18 and a 200-day simple moving average of $344.31. Stryker Co. has a 12-month low of $266.93 and a 12-month high of $374.63. The company has a current ratio of 1.91, a quick ratio of 0.95 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the previous year, the company earned $2.46 EPS. The company’s revenue for the quarter was up 11.9% on a year-over-year basis. Equities analysts expect that Stryker Co. will post 12.06 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were paid a dividend of $0.80 per share. The ex-dividend date was Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.87%. Stryker’s dividend payout ratio is currently 34.30%.

Analyst Ratings Changes

A number of research firms have commented on SYK. Needham & Company LLC increased their price objective on shares of Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a report on Wednesday. Royal Bank of Canada increased their price objective on shares of Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. raised their price target on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday. Truist Financial raised their price target on shares of Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, BTIG Research raised their price target on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and a consensus price target of $393.65.

Insider Buying and Selling

In related news, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the sale, the vice president now directly owns 10,042 shares in the company, valued at $3,685,213.16. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now directly owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The trade was a 0.00 % 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, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the completion of the transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,685,213.16. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 200,068 shares of company stock worth $65,151,372 in the last ninety days. 5.90% of the stock is owned by corporate insiders.

About Stryker

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.