American Century Companies Inc. Purchases 42,188 Shares of Stryker Corporation $SYK

American Century Companies Inc. boosted its position in shares of Stryker Corporation (NYSE:SYK) by 4.8% in the third quarter, Holdings Channel.com reports. The institutional investor owned 919,851 shares of the medical technology company’s stock after acquiring an additional 42,188 shares during the period. American Century Companies Inc.’s holdings in Stryker were worth $340,041,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SYK. Kovack Advisors Inc. boosted its position in shares of Stryker by 3.6% during the 2nd quarter. Kovack Advisors Inc. now owns 771 shares of the medical technology company’s stock valued at $305,000 after acquiring an additional 27 shares during the last quarter. Armstrong Advisory Group Inc. raised its stake in Stryker by 12.3% during the third quarter. Armstrong Advisory Group Inc. now owns 247 shares of the medical technology company’s stock valued at $91,000 after purchasing an additional 27 shares in the last quarter. Venturi Wealth Management LLC lifted its position in Stryker by 1.4% during the third quarter. Venturi Wealth Management LLC now owns 1,904 shares of the medical technology company’s stock valued at $704,000 after purchasing an additional 27 shares during the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in shares of Stryker by 3.9% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 745 shares of the medical technology company’s stock worth $275,000 after buying an additional 28 shares in the last quarter. Finally, Wolff Wiese Magana LLC grew its stake in shares of Stryker by 2.3% in the 3rd quarter. Wolff Wiese Magana LLC now owns 1,271 shares of the medical technology company’s stock worth $470,000 after buying an additional 28 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Wall Street Zen raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Saturday, February 21st. Raymond James Financial raised Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price objective for the company in a research note on Tuesday, January 6th. Piper Sandler reiterated an “overweight” rating on shares of Stryker in a report on Tuesday, January 27th. Barclays reissued an “overweight” rating and set a $469.00 target price on shares of Stryker in a research report on Monday, February 2nd. Finally, Sanford C. Bernstein raised their price target on Stryker from $450.00 to $465.00 and gave the stock an “outperform” rating in a research report on Friday, January 9th. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $426.47.

Stryker Stock Performance

SYK stock opened at $387.34 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $404.87. The business has a 50-day moving average price of $363.17 and a 200 day moving average price of $369.21. The company has a market capitalization of $148.23 billion, a P/E ratio of 46.11, a PEG ratio of 2.26 and a beta of 0.87.

Stryker (NYSE:SYK) last posted its earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, beating analysts’ consensus estimates of $4.40 by $0.07. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The business had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $7.12 billion. During the same quarter last year, the firm posted $4.01 EPS. The company’s revenue for the quarter was up 11.4% on a year-over-year basis. As a group, equities research analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $3.52 dividend on an annualized basis and a yield of 0.9%. Stryker’s payout ratio is 41.90%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of the company’s stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the completion of the sale, the director owned 2,457,331 shares in the company, valued at $891,814,566.52. This represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 5.90% of the stock is owned by company insiders.

Stryker Company Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.