American International Group Inc. Trims Stake in Stryker Co. (NYSE:SYK)

American International Group Inc. reduced its position in shares of Stryker Co. (NYSE:SYK – Get Rating) by 0.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,948 shares of the medical technology company’s stock after selling 529 shares during the period. American International Group Inc.’s holdings in Stryker were worth $31,274,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. KRS Capital Management LLC purchased a new position in shares of Stryker during the 4th quarter valued at $74,000. Asset Allocation & Management Company LLC bought a new stake in shares of Stryker during the 4th quarter worth $321,000. True North Advisors LLC bought a new stake in shares of Stryker during the 4th quarter worth $240,000. Hoylecohen LLC lifted its holdings in shares of Stryker by 6.1% during the 4th quarter. Hoylecohen LLC now owns 971 shares of the medical technology company’s stock worth $260,000 after acquiring an additional 56 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Stryker by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 5,227,951 shares of the medical technology company’s stock worth $1,393,901,000 after acquiring an additional 107,400 shares during the last quarter. Hedge funds and other institutional investors own 74.52% of the company’s stock.

A number of analysts have recently issued reports on the stock. Bank of America assumed coverage on shares of Stryker in a report on Tuesday, March 1st. They set a “buy” rating for the company. StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research note on Monday, May 2nd. Truist Financial lowered their price target on shares of Stryker from $296.00 to $280.00 in a research note on Monday, May 2nd. BTIG Research boosted their price target on shares of Stryker from $273.00 to $278.00 in a research note on Monday, April 18th. Finally, Piper Sandler lowered their price target on shares of Stryker from $315.00 to $290.00 in a research note on Friday, April 29th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Stryker has a consensus rating of “Buy” and a consensus target price of $290.89.

Shares of NYSE SYK traded down $1.16 during midday trading on Monday, hitting $231.09. 3,869 shares of the company traded hands, compared to its average volume of 1,530,698. Stryker Co. has a 12-month low of $224.02 and a 12-month high of $281.16. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.18 and a current ratio of 1.98. The stock has a 50-day moving average price of $254.41 and a 200 day moving average price of $256.86. The firm has a market cap of $87.39 billion, a P/E ratio of 44.15, a P/E/G ratio of 2.61 and a beta of 0.99.

Stryker (NYSE:SYK – Get Rating) last announced its quarterly earnings results on Thursday, April 28th. The medical technology company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.93 by $0.04. Stryker had a net margin of 11.56% and a return on equity of 24.09%. The company had revenue of $4.30 billion for the quarter, compared to analysts’ expectations of $4.19 billion. During the same quarter in the previous year, the company earned $1.93 earnings per share. Stryker’s quarterly revenue was up 8.8% on a year-over-year basis. As a group, equities analysts expect that Stryker Co. will post 9.64 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, July 29th. Investors of record on Thursday, June 30th will be given a dividend of $0.695 per share. This represents a $2.78 annualized dividend and a dividend yield of 1.20%. The ex-dividend date of this dividend is Wednesday, June 29th. Stryker’s dividend payout ratio is currently 52.85%.

Stryker Company Profile (Get Rating)

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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.

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