AMF Tjanstepension AB Boosts Position in Stryker Corporation (NYSE:SYK)

Key Points

• AMF Tjanstepension AB increased its holdings in Stryker Corporation by 1,011.1% during the 1st quarter, bringing its total to 46,154 shares valued at approximately $17.2 million.
• Stryker recently posted earnings of $3.13 per share, surpassing analyst expectations, with a quarterly revenue of $6.02 billion, a year-over-year increase of 11.1%.
• The company announced a quarterly dividend of $0.84 to be paid on October 31st, representing an annual yield of 0.9% with a payout ratio of 44.5%.

AMF Tjanstepension AB increased its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 1,011.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,154 shares of the medical technology company's stock after purchasing an additional 42,000 shares during the quarter. AMF Tjanstepension AB's holdings in Stryker were worth $17,186,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Capital A Wealth Management LLC purchased a new stake in Stryker during the fourth quarter worth approximately $26,000. Goodman Advisory Group LLC purchased a new stake in Stryker in the first quarter valued at approximately $32,000. City Holding Co. lifted its stake in Stryker by 528.6% in the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after buying an additional 74 shares during the last quarter. Smallwood Wealth Investment Management LLC purchased a new stake in Stryker in the first quarter valued at approximately $40,000. Finally, Itau Unibanco Holding S.A. purchased a new stake in Stryker in the fourth quarter valued at approximately $42,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Stryker Trading Up 0.3%

Shares of SYK stock opened at $376.21 on Friday. The business's fifty day moving average price is $387.27 and its 200 day moving average price is $380.27. Stryker Corporation has a 1-year low of $320.78 and a 1-year high of $406.19. The firm has a market capitalization of $143.83 billion, a PE ratio of 49.83, a P/E/G ratio of 2.72 and a beta of 0.91. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.07 by $0.06. The company had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%. Stryker's revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.81 earnings per share. As a group, sell-side analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

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

Analyst Ratings Changes

SYK has been the subject of a number of research reports. Evercore ISI boosted their price objective on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Citigroup reiterated a "buy" rating and issued a $455.00 price objective (up previously from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Truist Financial set a $415.00 price objective on Stryker and gave the company a "hold" rating in a research note on Monday. Roth Mkm boosted their price objective on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Finally, JMP Securities reiterated a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Stryker has an average rating of "Moderate Buy" and an average target price of $430.10.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the company's 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 owned 3,222,108 shares of the company's stock, valued at approximately $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.90% of the company's stock.

Stryker Company 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.

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