850 Shares in Stryker Co. (NYSE:SYK) Bought by Atlas Private Wealth Advisors

Atlas Private Wealth Advisors acquired a new position in shares of Stryker Co. (NYSE:SYK) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 850 shares of the medical technology company’s stock, valued at approximately $289,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Norges Bank acquired a new position in shares of Stryker during the fourth quarter worth $1,260,562,000. Global Assets Advisory LLC acquired a new stake in shares of Stryker during the first quarter valued at about $341,049,000. JPMorgan Chase & Co. increased its position in shares of Stryker by 10.4% during the first quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock worth $3,096,078,000 after acquiring an additional 813,311 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Stryker by 5.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock worth $3,755,782,000 after acquiring an additional 642,178 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its stake in Stryker by 146.9% during the 1st quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock valued at $314,449,000 after purchasing an additional 522,817 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Activity

In related news, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the sale, the director now directly owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now directly owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total value of $6,660,000.00. Following the sale, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at $949,716. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Stryker Price Performance

Shares of SYK stock traded up $1.84 during midday trading on Friday, reaching $327.83. 793,813 shares of the company were exchanged, compared to its average volume of 1,331,521. The company’s 50 day moving average price is $337.16 and its two-hundred day moving average price is $340.09. The company has a market cap of $124.93 billion, a P/E ratio of 37.42, a PEG ratio of 2.49 and a beta of 0.89. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $361.41. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. The business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the business earned $2.54 earnings per share. On average, sell-side analysts expect that Stryker Co. will post 11.99 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a dividend of $0.80 per share. The ex-dividend date is Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.98%. Stryker’s dividend payout ratio is currently 36.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on SYK shares. Evercore ISI reduced their target price on Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. Truist Financial decreased their price objective on shares of Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a report on Thursday, August 1st. UBS Group upped their target price on shares of Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Needham & Company LLC boosted their price objective on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Morgan Stanley increased their target price on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $373.11.

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.