Argonautica Private Wealth Management Inc. Boosts Position in Stryker Corporation (NYSE:SYK)

Argonautica Private Wealth Management Inc. lifted its holdings in Stryker Corporation (NYSE:SYK) by 2.1% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,968 shares of the medical technology company’s stock after acquiring an additional 163 shares during the period. Stryker accounts for about 1.0% of Argonautica Private Wealth Management Inc.’s portfolio, making the stock its 26th biggest holding. Argonautica Private Wealth Management Inc.’s holdings in Stryker were worth $2,966,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Carnegie Investment Counsel lifted its position in Stryker by 79.1% during the 1st quarter. Carnegie Investment Counsel now owns 204,544 shares of the medical technology company’s stock worth $72,988,000 after acquiring an additional 90,360 shares during the period. Pinnacle Associates Ltd. lifted its stake in Stryker by 0.3% during the first quarter. Pinnacle Associates Ltd. now owns 13,961 shares of the medical technology company’s stock worth $5,197,000 after purchasing an additional 40 shares in the last quarter. AE Wealth Management LLC raised its stake in shares of Stryker by 6.7% in the first quarter. AE Wealth Management LLC now owns 2,317 shares of the medical technology company’s stock valued at $863,000 after acquiring an additional 146 shares in the last quarter. Hendershot Investments Inc. lifted its holdings in Stryker by 5.9% during the 1st quarter. Hendershot Investments Inc. now owns 13,276 shares of the medical technology company’s stock worth $4,942,000 after buying an additional 738 shares during the last quarter. Finally, W.G. Shaheen & Associates DBA Whitney & Co grew its holdings in shares of Stryker by 2.8% during the first quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 30,046 shares of the medical technology company’s stock worth $11,185,000 after purchasing an additional 806 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a research note on Monday, May 5th. Sanford C. Bernstein set a $450.00 target price on shares of Stryker in a research note on Monday, May 5th. Wall Street Zen raised shares of Stryker from a “hold” rating to a “buy” rating in a research report on Friday, July 18th. Roth Mkm increased their price objective on shares of Stryker from $405.00 to $456.00 and gave the company a “buy” rating in a report on Friday, May 2nd. Finally, Evercore ISI increased their target price on shares of Stryker from $390.00 to $415.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $428.55.

Stryker Trading Up 1.4%

Shares of SYK opened at $400.78 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. The business’s 50-day moving average price is $386.10 and its 200-day moving average price is $378.65. The stock has a market cap of $152.97 billion, a PE ratio of 54.16, a P/E/G ratio of 2.93 and a beta of 0.91. Stryker Corporation has a twelve month low of $314.93 and a twelve month high of $406.19.

Stryker (NYSE:SYK) last released its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating analysts’ consensus estimates of $2.73 by $0.11. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The firm had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.68 billion. During the same quarter in the prior year, the firm posted $2.50 earnings per share. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, equities analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

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

Insider Buying and Selling

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 transaction of $75,392,000.00. Following the completion of the sale, the director directly owned 3,417,326 shares in the company, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 5.90% of the company’s stock.

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.