American International Group Inc. Buys 1,882 Shares of Stryker Co. (NYSE:SYK)

American International Group Inc. grew its stake in Stryker Co. (NYSE:SYK) by 1.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,784 shares of the medical technology company’s stock after acquiring an additional 1,882 shares during the period. American International Group Inc.’s holdings in Stryker were worth $30,780,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tocqueville Asset Management L.P. increased its position in Stryker by 3.4% during the 3rd quarter. Tocqueville Asset Management L.P. now owns 2,101 shares of the medical technology company’s stock valued at $574,000 after purchasing an additional 70 shares during the period. Fiera Capital Corp raised its stake in Stryker by 2.6% in the third quarter. Fiera Capital Corp now owns 10,624 shares of the medical technology company’s stock worth $2,903,000 after buying an additional 271 shares in the last quarter. Atomi Financial Group Inc. purchased a new stake in Stryker during the third quarter worth $215,000. Truepoint Inc. bought a new stake in Stryker during the 3rd quarter valued at $285,000. Finally, Bank Julius Baer & Co. Ltd Zurich increased its holdings in shares of Stryker by 25.8% in the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 6,220 shares of the medical technology company’s stock valued at $1,700,000 after acquiring an additional 1,277 shares during the period. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of NYSE:SYK traded up $1.96 during midday trading on Friday, reaching $344.98. The company’s stock had a trading volume of 746,530 shares, compared to its average volume of 1,214,165. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56. The stock has a fifty day moving average of $336.88 and a 200 day moving average of $330.15. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41. The firm has a market capitalization of $131.42 billion, a PE ratio of 39.38, a P/E/G ratio of 2.72 and a beta of 0.92.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.14. The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the firm earned $2.14 EPS. On average, equities analysts expect that Stryker Co. will post 11.95 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a $0.80 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.20 annualized dividend and a yield of 0.93%. Stryker’s dividend payout ratio is presently 36.53%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. UBS Group raised their price objective on Stryker from $339.00 to $351.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. TD Cowen lifted their price objective on shares of Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. BTIG Research increased their target price on shares of Stryker from $366.00 to $369.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Piper Sandler lifted their price target on shares of Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Finally, Barclays upped their price target on Stryker from $372.00 to $376.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $370.58.

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.