Argent Trust Co Increases Stock Holdings in Stryker Co. (NYSE:SYK)

Argent Trust Co lifted its holdings in shares of Stryker Co. (NYSE:SYK) by 11.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,918 shares of the medical technology company’s stock after purchasing an additional 722 shares during the quarter. Argent Trust Co’s holdings in Stryker were worth $2,354,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Koshinski Asset Management Inc. purchased a new position in Stryker in the 1st quarter valued at approximately $795,000. Envestnet Portfolio Solutions Inc. grew its stake in Stryker by 43.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock worth $6,617,000 after purchasing an additional 5,565 shares in the last quarter. Norden Group LLC purchased a new stake in Stryker during the 1st quarter worth about $4,027,000. International Assets Investment Management LLC acquired a new stake in Stryker in the 1st quarter valued at about $21,970,000. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Stryker by 38.5% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock valued at $7,084,000 after buying an additional 5,502 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

SYK has been the topic of a number of recent research reports. StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a research note on Monday. UBS Group raised their price objective on shares of Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. BTIG Research boosted their target price on shares of Stryker from $360.00 to $374.00 and gave the stock a “buy” rating in a research note on Wednesday, August 28th. Truist Financial cut their price target on Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. Finally, Wolfe Research assumed coverage on Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $378.58.

Insiders Place Their Bets

In other news, insider Viju Menon sold 600 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Viju Menon sold 600 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now owns 9,069 shares of the company’s stock, valued at $3,219,495. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the sale, the chief financial officer now owns 2,852 shares in the company, valued at approximately $949,716. The disclosure for this sale can be found here. Insiders have sold 220,068 shares of company stock valued at $71,811,372 in the last ninety days. Insiders own 5.90% of the company’s stock.

Stryker Price Performance

Shares of SYK opened at $361.29 on Thursday. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $374.63. The firm has a 50-day simple moving average of $344.08 and a 200-day simple moving average of $342.74. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. The company has a market capitalization of $137.68 billion, a price-to-earnings ratio of 41.24, a price-to-earnings-growth ratio of 2.87 and a beta of 0.91.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, topping the consensus estimate of $2.79 by $0.02. The business had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The company’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.54 earnings per share. On average, equities research analysts anticipate that Stryker Co. will post 12 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

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.