AIA Group Ltd Invests $295,000 in Stryker Co. (NYSE:SYK)

AIA Group Ltd acquired a new stake in shares of Stryker Co. (NYSE:SYK) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 819 shares of the medical technology company’s stock, valued at approximately $295,000.

Other hedge funds have also made changes to their positions in the company. Edgestream Partners L.P. raised its holdings in Stryker by 216.1% in the 3rd quarter. Edgestream Partners L.P. now owns 3,430 shares of the medical technology company’s stock valued at $1,239,000 after acquiring an additional 2,345 shares in the last quarter. Kestra Investment Management LLC bought a new stake in shares of Stryker during the third quarter valued at approximately $346,000. Ascent Group LLC raised its stake in shares of Stryker by 2.0% in the third quarter. Ascent Group LLC now owns 3,867 shares of the medical technology company’s stock valued at $1,397,000 after purchasing an additional 77 shares in the last quarter. Hilltop Holdings Inc. lifted its position in Stryker by 161.2% in the third quarter. Hilltop Holdings Inc. now owns 3,479 shares of the medical technology company’s stock worth $1,257,000 after purchasing an additional 2,147 shares during the period. Finally, Janus Henderson Group PLC lifted its position in Stryker by 1.5% in the third quarter. Janus Henderson Group PLC now owns 1,969,757 shares of the medical technology company’s stock worth $711,594,000 after purchasing an additional 28,421 shares during the period. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Up 0.3 %

Shares of NYSE:SYK opened at $373.20 on Wednesday. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The firm has a market cap of $142.45 billion, a P/E ratio of 48.09, a P/E/G ratio of 2.93 and a beta of 0.95. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The company’s 50-day moving average price is $383.41 and its two-hundred day moving average price is $374.43.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same quarter in the previous year, the company earned $3.46 EPS. As a group, research analysts forecast that Stryker Co. 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 Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.84 per share. The ex-dividend date is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.90%. Stryker’s payout ratio is currently 43.30%.

Insider Activity

In other Stryker news, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the transaction, the director now directly owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the sale, the director now owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. The trade was a 5.24 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SYK. Royal Bank of Canada boosted their price target on shares of Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Argus set a $450.00 target price on shares of Stryker in a research note on Monday, February 3rd. JMP Securities restated a “market perform” rating on shares of Stryker in a research note on Tuesday, February 18th. The Goldman Sachs Group set a $422.00 price objective on Stryker in a research note on Tuesday, March 4th. Finally, Stifel Nicolaus raised their target price on Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $421.90.

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.