Stryker Co. (NYSE:SYK) Position Raised by American Century Companies Inc.

American Century Companies Inc. raised its stake in Stryker Co. (NYSE:SYK) by 287.6% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 505,608 shares of the medical technology company’s stock after buying an additional 375,166 shares during the quarter. American Century Companies Inc. owned approximately 0.13% of Stryker worth $172,033,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Aspen Investment Management Inc lifted its stake in Stryker by 0.7% in the first quarter. Aspen Investment Management Inc now owns 4,368 shares of the medical technology company’s stock valued at $1,563,000 after buying an additional 31 shares during the last quarter. Harbor Investment Advisory LLC lifted its stake in Stryker by 0.4% in the first quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock valued at $2,499,000 after buying an additional 31 shares during the last quarter. Proficio Capital Partners LLC raised its stake in shares of Stryker by 2.4% during the first quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock valued at $507,000 after purchasing an additional 33 shares in the last quarter. Versant Capital Management Inc raised its stake in shares of Stryker by 4.0% during the second quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock valued at $294,000 after purchasing an additional 33 shares in the last quarter. Finally, Stanley Laman Group Ltd. raised its stake in shares of Stryker by 4.6% during the second quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock valued at $256,000 after purchasing an additional 33 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on SYK. Stifel Nicolaus cut their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Barclays lifted their price objective on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. Piper Sandler restated an “overweight” rating and set a $380.00 price objective on shares of Stryker in a research note on Tuesday. BTIG Research lifted their price objective on shares of Stryker from $360.00 to $374.00 and gave the company a “buy” rating in a research note on Wednesday, August 28th. Finally, UBS Group lifted their target price on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $378.58.

Stryker Stock Up 0.4 %

Stryker stock opened at $367.79 on Friday. The stock has a market capitalization of $140.16 billion, a PE ratio of 41.99, a price-to-earnings-growth ratio of 2.83 and a beta of 0.91. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $368.89. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51. The company has a 50 day moving average of $341.61 and a 200-day moving average of $342.38.

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

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders 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 0.87%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the transaction, the director now owns 3,316,608 shares in the company, valued at $1,072,790,023.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the transaction, the director now owns 3,316,608 shares in the company, valued at $1,072,790,023.68. 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 on 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 transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at approximately $949,716. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 210,600 shares of company stock worth $68,330,400. 5.90% of the stock is owned by 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.