Argonautica Private Wealth Management Inc. Purchases 126 Shares of Stryker Co. (NYSE:SYK)

Argonautica Private Wealth Management Inc. grew its position in Stryker Co. (NYSE:SYK) by 1.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,580 shares of the medical technology company’s stock after acquiring an additional 126 shares during the quarter. Argonautica Private Wealth Management Inc.’s holdings in Stryker were worth $2,738,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of SYK. Kovack Advisors Inc. purchased a new position in shares of Stryker in the 1st quarter worth $224,000. Norden Group LLC bought a new position in shares of Stryker in the 1st quarter valued at about $280,000. Private Advisor Group LLC lifted its holdings in shares of Stryker by 4.4% in the 1st quarter. Private Advisor Group LLC now owns 15,310 shares of the medical technology company’s stock valued at $5,479,000 after acquiring an additional 652 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of Stryker by 3.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 69,981 shares of the medical technology company’s stock valued at $25,044,000 after acquiring an additional 2,343 shares during the last quarter. Finally, Fidelis Capital Partners LLC lifted its holdings in shares of Stryker by 8.2% in the 1st quarter. Fidelis Capital Partners LLC now owns 2,098 shares of the medical technology company’s stock valued at $751,000 after acquiring an additional 159 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Price Performance

NYSE SYK opened at $367.15 on Friday. The firm’s fifty day simple moving average is $360.18 and its two-hundred day simple moving average is $344.31. 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 Co. has a 12-month low of $266.93 and a 12-month high of $374.63. The firm has a market capitalization of $139.96 billion, a P/E ratio of 39.35, a P/E/G ratio of 2.69 and a beta of 0.91.

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

Stryker Announces Dividend

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

Insider Activity at Stryker

In related news, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,715,540. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the company’s 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 sale, the director now directly owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 200,068 shares of company stock valued at $65,151,372 in the last ninety days. Company insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the subject of a number of analyst reports. Canaccord Genuity Group increased their price target on shares of Stryker from $360.00 to $400.00 and gave the company a “buy” rating in a report on Wednesday. Barclays increased their price target on shares of Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a report on Thursday. Piper Sandler reaffirmed an “overweight” rating and issued a $420.00 price target (up previously from $380.00) on shares of Stryker in a report on Wednesday. Robert W. Baird increased their price target on shares of Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Truist Financial raised their price objective on shares of Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a research note on Wednesday. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and an average price target of $393.65.

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.