Stryker Co. (NYSE:SYK) Stake Boosted by AMI Investment Management Inc.

AMI Investment Management Inc. increased its position in shares of Stryker Co. (NYSE:SYK) by 17.2% during the third quarter, Holdings Channel reports. The fund owned 9,249 shares of the medical technology company’s stock after acquiring an additional 1,358 shares during the quarter. AMI Investment Management Inc.’s holdings in Stryker were worth $3,341,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Centennial Bank AR lifted its holdings in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in shares of Stryker in the 1st quarter valued at about $39,000. HBW Advisory Services LLC purchased a new stake in shares of Stryker in the third quarter worth approximately $42,000. Accent Capital Management LLC purchased a new position in Stryker during the fourth quarter valued at approximately $60,000. Finally, Sachetta LLC lifted its position in Stryker by 16.3% in the 2nd quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after buying an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

SYK traded down $0.41 on Friday, hitting $351.20. 676,930 shares of the stock traded hands, compared to its average volume of 1,270,464. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $374.63. The firm has a market capitalization of $133.84 billion, a PE ratio of 40.14, a P/E/G ratio of 2.74 and a beta of 0.91. The business has a fifty day moving average price of $349.38 and a two-hundred day moving average price of $343.18. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Stryker’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.54 earnings per share. On average, research analysts predict that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s payout ratio is presently 36.53%.

Insider Activity

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were 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 directly owns 2,852 shares of the company’s stock, valued at $949,716. 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 is available through this link. In other news, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction that occurred 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 sale, the director now owns 3,316,608 shares in the company, valued at $1,072,790,023.68. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the transaction, the chief financial officer now owns 2,852 shares in the company, valued at $949,716. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 220,068 shares of company stock worth $71,811,372. 5.90% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SYK. Stifel Nicolaus dropped their price target 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 increased their price target on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Piper Sandler reaffirmed an “overweight” rating and issued a $380.00 price objective on shares of Stryker in a research note on Tuesday, September 10th. Evercore ISI increased their target price on shares of Stryker from $365.00 to $380.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $379.37.

Stryker 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.