Atria Investments Inc Purchases 2,212 Shares of Stryker Co. (NYSE:SYK)

Atria Investments Inc increased its stake in shares of Stryker Co. (NYSE:SYK) by 12.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 20,395 shares of the medical technology company’s stock after purchasing an additional 2,212 shares during the period. Atria Investments Inc’s holdings in Stryker were worth $7,299,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Stryker by 1.0% during the first quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company’s stock valued at $11,258,373,000 after purchasing an additional 309,592 shares during the last quarter. Greenleaf Trust raised its holdings in shares of Stryker by 0.6% during the first quarter. Greenleaf Trust now owns 18,596,387 shares of the medical technology company’s stock valued at $6,655,089,000 after purchasing an additional 108,080 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Stryker by 5.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after buying an additional 642,178 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Stryker by 10.4% during the first quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after buying an additional 813,311 shares during the last quarter. Finally, Franklin Resources Inc. increased its holdings in Stryker by 0.6% during the fourth quarter. Franklin Resources Inc. now owns 4,686,440 shares of the medical technology company’s stock valued at $1,403,401,000 after buying an additional 29,209 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have commented on SYK shares. TD Cowen upped their target price on shares of Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, April 11th. Truist Financial decreased their target price on Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a research note on Thursday. Barclays boosted their target price on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a report on Thursday. Wells Fargo & Company boosted their price target on shares of Stryker from $364.00 to $381.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Finally, Robert W. Baird raised their price objective on Stryker from $367.00 to $378.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, Stryker presently has an average rating of “Moderate Buy” and an average target price of $373.11.

Insiders Place Their Bets

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now owns 2,852 shares of the company’s stock, valued at approximately $949,716. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 5.90% of the stock is owned by company insiders.

Stryker Trading Down 0.5 %

Shares of NYSE SYK traded down $1.61 during mid-day trading on Friday, reaching $331.56. The company had a trading volume of 1,738,648 shares, compared to its average volume of 1,432,445. The stock has a market cap of $126.35 billion, a price-to-earnings ratio of 37.85, a price-to-earnings-growth ratio of 2.57 and a beta of 0.89. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $361.41. The business’s 50-day moving average is $338.87 and its 200-day moving average is $339.61. The company has a current ratio of 1.68, a quick ratio of 0.99 and a debt-to-equity ratio of 0.51.

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

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th were issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Friday, June 28th. Stryker’s payout ratio is 36.53%.

About Stryker

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.