Stryker Corporation $SYK Stock Position Lifted by American Century Companies Inc.

Key Points

• American Century Companies Inc. increased its stake in Stryker Corporation by 13.5%, owning 843,741 shares valued at approximately $314 million by the end of the first quarter.
• Stryker recently declared a quarterly dividend of $0.84 per share, with an annualized yield of 0.9%, set to be paid on October 31st to shareholders of record.
• Shares opened at $378.54 and Stryker reported quarterly earnings of $3.13 EPS, exceeding analyst estimates and reflecting a revenue increase of 11.1% from the previous year.

American Century Companies Inc. boosted its position in Stryker Corporation (NYSE:SYK - Free Report) by 13.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund 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. owned about 0.22% of Stryker worth $314,083,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its stake in shares of Stryker by 43,226.8% during the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock valued at $772,390,000 after acquiring an additional 2,070,133 shares during the last quarter. Nuveen LLC acquired a new position in shares of Stryker during the 1st quarter valued at about $558,075,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Stryker during the 4th quarter valued at about $154,140,000. Northern Trust Corp increased its stake in shares of Stryker by 13.2% during the 4th quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company's stock valued at $1,298,426,000 after acquiring an additional 420,153 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Stryker by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company's stock valued at $12,306,572,000 after acquiring an additional 361,136 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total value of $75,290,000.00. Following the sale, the director directly owned 3,222,108 shares of the company's stock, valued at $1,212,962,556.60. This trade represents 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 at this link. 5.90% of the stock is owned by corporate insiders.

Stryker Stock Up 2.2%

Shares of SYK traded up $8.3540 during trading on Tuesday, reaching $389.9640. The company's stock had a trading volume of 1,691,409 shares, compared to its average volume of 1,438,666. The company has a fifty day moving average of $386.77 and a two-hundred day moving average of $379.38. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19. The company has a market cap of $149.09 billion, a price-to-earnings ratio of 51.65, a P/E/G ratio of 2.78 and a beta of 0.91. 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 - Get Free Report) last issued its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same period last year, the company earned $2.81 earnings per share. The firm's revenue for the quarter was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, sell-side analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be given a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.36 annualized dividend and a yield of 0.9%. Stryker's dividend payout ratio (DPR) is currently 44.50%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Needham & Company LLC boosted their target price on Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Wells Fargo & Company boosted their target price on Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. BTIG Research reiterated a "buy" rating on shares of Stryker in a report on Monday, July 14th. Finally, Sanford C. Bernstein set a $450.00 target price on Stryker in a report on Monday, May 5th. Fifteen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.