American Century Companies Inc. Buys 100,048 Shares of Stryker Corporation (NYSE:SYK)

American Century Companies Inc. lifted its stake in shares of Stryker Corporation (NYSE:SYK) by 13.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 843,741 shares of the medical technology company’s stock after purchasing an additional 100,048 shares during the quarter. American Century Companies Inc.’s holdings in Stryker were worth $314,083,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in SYK. Capital A Wealth Management LLC bought a new position in Stryker in the 4th quarter valued at about $26,000. Goodman Advisory Group LLC bought a new position in Stryker in the 1st quarter valued at about $32,000. City Holding Co. lifted its position in Stryker by 528.6% in the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock valued at $33,000 after acquiring an additional 74 shares in the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in Stryker in the 1st quarter valued at about $40,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in Stryker in the 4th quarter valued at about $42,000. Institutional investors own 77.09% of the company’s stock.

Insider Activity

In related news, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the transaction, the director owned 3,222,108 shares in the company, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.90% of the stock is owned by corporate insiders.

Stryker Price Performance

Shares of NYSE:SYK opened at $378.54 on Friday. The stock has a market cap of $144.72 billion, a PE ratio of 50.14, a PEG ratio of 2.75 and a beta of 0.91. The company’s fifty day moving average is $386.82 and its 200 day moving average is $379.68. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $406.19. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $3.07 by $0.06. The company had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The firm’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.81 EPS. Research analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a dividend of $0.84 per share. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. Stryker’s payout ratio is currently 44.50%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on SYK shares. Evercore ISI increased their price objective 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. Truist Financial set a $415.00 price objective on shares of Stryker and gave the company a “hold” rating in a research note on Monday, August 4th. Wells Fargo & Company raised their price target on shares of Stryker from $435.00 to $445.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Citigroup restated a “buy” rating and set a $455.00 price target (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a report on Monday, May 5th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $430.10.

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.