American International Group Inc. lessened its position in shares of Stryker Co. (NYSE:SYK) by 0.9% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 124,817 shares of the medical technology company’s stock after selling 1,174 shares during the quarter. American International Group Inc.’s holdings in Stryker were worth $24,654,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in shares of Stryker by 4.1% in the 4th quarter. BlackRock Inc. now owns 24,882,912 shares of the medical technology company’s stock valued at $3,900,399,000 after buying an additional 975,678 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in shares of Stryker by 8,029.5% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 6,075,473 shares of the medical technology company’s stock valued at $39,000 after buying an additional 6,000,739 shares during the period. FMR LLC lifted its holdings in shares of Stryker by 6.3% in the 4th quarter. FMR LLC now owns 5,934,622 shares of the medical technology company’s stock valued at $930,251,000 after buying an additional 353,028 shares during the period. Northern Trust Corp lifted its holdings in shares of Stryker by 3.6% in the 4th quarter. Northern Trust Corp now owns 3,857,399 shares of the medical technology company’s stock valued at $604,647,000 after buying an additional 132,857 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Stryker by 6.5% in the 4th quarter. Geode Capital Management LLC now owns 3,665,205 shares of the medical technology company’s stock valued at $573,387,000 after buying an additional 224,785 shares during the period. Institutional investors and hedge funds own 74.71% of the company’s stock.
NYSE SYK opened at $185.67 on Thursday. The stock has a market capitalization of $68.73 billion, a P/E ratio of 25.40, a price-to-earnings-growth ratio of 2.24 and a beta of 0.84. Stryker Co. has a twelve month low of $144.75 and a twelve month high of $199.85. The company has a quick ratio of 1.30, a current ratio of 2.12 and a debt-to-equity ratio of 0.68.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $2.08 annualized dividend and a yield of 1.12%. Stryker’s dividend payout ratio (DPR) is currently 28.45%.
Several equities analysts have recently issued reports on SYK shares. BTIG Research boosted their price objective on Stryker to $211.00 and gave the company a “buy” rating in a report on Monday, March 18th. Piper Jaffray Companies reissued an “overweight” rating and issued a $205.00 price objective on shares of Stryker in a report on Friday, March 1st. Barclays boosted their price objective on Stryker from $203.00 to $211.00 and gave the company an “overweight” rating in a report on Monday, April 15th. SunTrust Banks upped their price target on Stryker to $205.00 and gave the stock a “positive” rating in a report on Monday, February 4th. Finally, JPMorgan Chase & Co. upped their price target on Stryker from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Tuesday, March 19th. Seven equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $196.89.
In other Stryker news, Chairman Kevin Lobo sold 41,750 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $194.11, for a total transaction of $8,104,092.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Katherine Ann Owen sold 29,247 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $185.62, for a total value of $5,428,828.14. Following the sale, the vice president now owns 11,131 shares of the company’s stock, valued at $2,066,136.22. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 111,550 shares of company stock valued at $21,374,171. 7.20% of the stock is owned by company insiders.
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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