Atlas Legacy Advisors LLC Sells 445 Shares of Stryker Corporation (NYSE:SYK)

Atlas Legacy Advisors LLC lessened its position in shares of Stryker Corporation (NYSE:SYK) by 20.6% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,713 shares of the medical technology company’s stock after selling 445 shares during the quarter. Atlas Legacy Advisors LLC’s holdings in Stryker were worth $638,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. University of Texas Texas AM Investment Management Co. increased its position in shares of Stryker by 433.3% during the 1st quarter. University of Texas Texas AM Investment Management Co. now owns 384 shares of the medical technology company’s stock valued at $143,000 after purchasing an additional 312 shares during the last quarter. Richards Merrill & Peterson Inc. grew its position in Stryker by 10.4% during the first quarter. Richards Merrill & Peterson Inc. now owns 12,590 shares of the medical technology company’s stock valued at $4,687,000 after buying an additional 1,189 shares during the period. Ballast Advisors LLC increased its holdings in Stryker by 10.2% during the first quarter. Ballast Advisors LLC now owns 3,684 shares of the medical technology company’s stock valued at $1,371,000 after buying an additional 341 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Stryker by 7.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 157,364 shares of the medical technology company’s stock worth $58,579,000 after acquiring an additional 10,295 shares during the period. Finally, Bedel Financial Consulting Inc. boosted its stake in shares of Stryker by 4.0% during the 1st quarter. Bedel Financial Consulting Inc. now owns 1,780 shares of the medical technology company’s stock worth $672,000 after acquiring an additional 69 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

SYK has been the subject of several analyst reports. Wall Street Zen upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Friday, July 18th. Roth Mkm upped their price target on Stryker from $405.00 to $456.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Truist Financial lifted their price objective on Stryker from $390.00 to $400.00 and gave the company a “hold” rating in a research report on Monday, May 5th. Citigroup reissued a “buy” rating and issued a $455.00 target price (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Finally, Evercore ISI lifted their price target on shares of Stryker from $390.00 to $415.00 and gave the company an “outperform” rating in a report on Tuesday, July 8th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $428.55.

Stryker Stock Up 1.7%

Shares of SYK opened at $403.34 on Monday. 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 $153.95 billion, a price-to-earnings ratio of 54.51, a price-to-earnings-growth ratio of 2.99 and a beta of 0.91. Stryker Corporation has a 1 year low of $314.93 and a 1 year high of $406.19. The business’s 50 day simple moving average is $386.37 and its 200-day simple moving average is $379.44.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.11. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The company had revenue of $5.87 billion for the quarter, compared to analysts’ expectations of $5.68 billion. During the same quarter in the previous year, the business posted $2.50 earnings per share. Stryker’s quarterly revenue was up 11.9% on a year-over-year basis. As a group, equities analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Monday, June 30th. Stryker’s payout ratio is 45.41%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the sale, the director directly owned 3,417,326 shares of the company’s stock, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 5.90% of the company’s stock.

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.