American National Bank & Trust Boosts Stock Position in Stryker Co. (NYSE:SYK)

American National Bank & Trust increased its position in Stryker Co. (NYSE:SYK - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,311 shares of the medical technology company's stock after buying an additional 1,183 shares during the quarter. Stryker comprises approximately 1.5% of American National Bank & Trust's holdings, making the stock its 19th largest position. American National Bank & Trust's holdings in Stryker were worth $13,517,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Norges Bank purchased a new stake in shares of Stryker during the fourth quarter valued at $1,710,744,000. GAMMA Investing LLC increased its position in Stryker by 43,226.8% in the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock worth $772,390,000 after purchasing an additional 2,070,133 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Stryker in the 4th quarter worth about $353,394,000. FMR LLC increased its position in Stryker by 10.0% in the 4th quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock worth $2,892,946,000 after purchasing an additional 727,850 shares during the last quarter. Finally, Proficio Capital Partners LLC increased its position in Stryker by 52,520.8% in the 4th quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company's stock worth $214,660,000 after purchasing an additional 595,061 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on SYK. Truist Financial upped their target price on Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research report on Monday, May 5th. Wall Street Zen lowered Stryker from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Barclays boosted their price target on Stryker from $418.00 to $443.00 and gave the company an "overweight" rating in a research note on Monday, February 10th. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Finally, Sanford C. Bernstein set a $450.00 price objective on Stryker in a research report on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Stryker has a consensus rating of "Moderate Buy" and an average price target of $427.30.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the transaction, the director now owns 3,417,326 shares in the company, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 5.90% of the company's stock.

Stryker Stock Performance

Shares of SYK traded up $1.04 during mid-day trading on Thursday, reaching $383.59. The company's stock had a trading volume of 371,658 shares, compared to its average volume of 1,329,773. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19. The stock has a market cap of $146.41 billion, a P/E ratio of 49.43, a PEG ratio of 2.93 and a beta of 0.93. The business has a 50-day simple moving average of $369.68 and a two-hundred day simple moving average of $376.11. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK - Get Free Report) last announced its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping analysts' consensus estimates of $2.73 by $0.11. The company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The firm's quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.50 earnings per share. As a group, equities research analysts anticipate that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.88%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio is currently 45.41%.

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.