Stryker Corporation (NYSE:SYK) Shares Sold by Atlantic Edge Private Wealth Management LLC

Atlantic Edge Private Wealth Management LLC reduced its stake in shares of Stryker Corporation (NYSE:SYK) by 1.3% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,524 shares of the medical technology company’s stock after selling 75 shares during the period. Atlantic Edge Private Wealth Management LLC’s holdings in Stryker were worth $2,056,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Stryker by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company’s stock worth $11,773,213,000 after acquiring an additional 252,188 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Stryker by 0.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,109,722 shares of the medical technology company’s stock valued at $4,000,056,000 after purchasing an additional 54,693 shares during the period. FMR LLC raised its stake in shares of Stryker by 10.0% in the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company’s stock worth $2,892,946,000 after purchasing an additional 727,850 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Stryker by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company’s stock worth $2,539,033,000 after purchasing an additional 168,436 shares during the period. Finally, Norges Bank purchased a new stake in Stryker in the fourth quarter valued at approximately $1,710,744,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on SYK shares. Truist Financial raised their price target on shares of Stryker from $390.00 to $400.00 and gave the stock a “hold” rating in a research report on Monday, May 5th. Roth Mkm increased their price objective on shares of Stryker from $405.00 to $456.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. BTIG Research set a $403.00 target price on shares of Stryker and gave the stock a “buy” rating in a report on Monday, April 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $442.00 price target on shares of Stryker in a report on Friday, March 21st. Finally, Wall Street Zen downgraded Stryker from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $427.30.

Stryker Stock Up 0.0%

Stryker stock opened at $392.00 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00. The stock has a market capitalization of $149.62 billion, a PE ratio of 52.97, a price-to-earnings-growth ratio of 2.98 and a beta of 0.91. The business has a 50 day simple moving average of $382.92 and a 200-day simple moving average of $376.25. Stryker Corporation has a 12 month low of $314.93 and a 12 month high of $406.19.

Stryker (NYSE:SYK) last released its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.73 by $0.11. The firm had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.68 billion. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same quarter last year, the company earned $2.50 EPS. On average, analysts anticipate that Stryker Corporation 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 Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a dividend of $0.84 per share. The ex-dividend date is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. Stryker’s payout ratio is currently 45.41%.

Insider Buying and Selling at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the transaction, the director directly owned 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.90% of the stock is currently owned by company insiders.

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.