Stryker Co. (NYSE:SYK) Shares Bought by AMI Investment Management Inc.

AMI Investment Management Inc. lifted its position in shares of Stryker Co. (NYSE:SYK) by 17.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 9,249 shares of the medical technology company’s stock after buying 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 institutional investors and hedge funds have also made changes to their positions in the business. Centennial Bank AR raised its position in Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after acquiring an additional 48 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in Stryker in the 1st quarter valued at approximately $39,000. HBW Advisory Services LLC acquired a new stake in Stryker during the 3rd quarter valued at $42,000. Accent Capital Management LLC purchased a new position in Stryker during the fourth quarter worth $60,000. Finally, Sachetta LLC raised its holdings in shares of Stryker by 16.3% in the second quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock worth $80,000 after acquiring an additional 34 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Stryker

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker 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 sale, the chief financial officer now owns 2,852 shares of the company’s stock, valued at $949,716. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,685,213.16. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at approximately $949,716. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 220,068 shares of company stock worth $71,811,372. Company insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

SYK has been the subject of a number of recent research reports. Royal Bank of Canada reiterated an “outperform” rating and set a $386.00 price objective on shares of Stryker in a research report on Wednesday, July 31st. BTIG Research boosted their price objective on shares of Stryker from $360.00 to $374.00 and gave the company a “buy” rating in a research report on Wednesday, August 28th. UBS Group raised their target price on shares of Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Stifel Nicolaus cut their price target on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, Truist Financial decreased their price objective on Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $379.37.

Stryker Stock Down 0.1 %

Shares of SYK stock traded down $0.41 on Friday, hitting $351.20. The stock had a trading volume of 676,930 shares, compared to its average volume of 1,270,464. The stock’s 50 day moving average is $349.38 and its 200-day moving average is $343.18. The firm has a market capitalization of $133.84 billion, a price-to-earnings ratio of 40.14, a P/E/G ratio of 2.74 and a beta of 0.91. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $374.63. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68.

Stryker (NYSE:SYK) last announced its 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. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The company had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same period last year, the firm earned $2.54 earnings per share. The company’s revenue was up 8.5% on a year-over-year basis. As a group, research analysts expect that Stryker Co. will post 12 earnings per share for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.80 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.91%. Stryker’s payout ratio is currently 36.53%.

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.