Atle Fund Management AB Sells 4,697 Shares of Stryker Corporation $SYK

Atle Fund Management AB lessened its stake in shares of Stryker Corporation (NYSE:SYKFree Report) by 17.1% during the third quarter, Holdings Channel.com reports. The fund owned 22,769 shares of the medical technology company’s stock after selling 4,697 shares during the period. Stryker comprises 3.3% of Atle Fund Management AB’s investment portfolio, making the stock its 12th largest position. Atle Fund Management AB’s holdings in Stryker were worth $8,417,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Princeton Global Asset Management LLC lifted its position in Stryker by 16.9% during the second quarter. Princeton Global Asset Management LLC now owns 180 shares of the medical technology company’s stock worth $71,000 after purchasing an additional 26 shares during the period. Sachetta LLC raised its position in shares of Stryker by 58.7% in the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after buying an additional 27 shares in the last quarter. Kovack Advisors Inc. lifted its holdings in shares of Stryker by 3.6% during the 2nd quarter. Kovack Advisors Inc. now owns 771 shares of the medical technology company’s stock worth $305,000 after acquiring an additional 27 shares during the period. Armstrong Advisory Group Inc. boosted its position in shares of Stryker by 12.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 247 shares of the medical technology company’s stock worth $91,000 after acquiring an additional 27 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its stake in Stryker by 1.4% in the third quarter. Venturi Wealth Management LLC now owns 1,904 shares of the medical technology company’s stock valued at $704,000 after acquiring an additional 27 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Stryker

In other news, CAO William E. Berry, Jr. sold 1,953 shares of the stock in a transaction on Friday, November 14th. The shares were sold at an average price of $365.49, for a total transaction of $713,801.97. Following the completion of the sale, the chief accounting officer directly owned 2,833 shares in the company, valued at $1,035,433.17. This represents a 40.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ronda E. Stryker sold 276,173 shares of the business’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the completion of the transaction, the director owned 2,702,108 shares in the company, valued at approximately $954,600,714.24. The trade was a 9.27% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 522,118 shares of company stock valued at $185,381,932. 5.90% of the stock is currently owned by company insiders.

Stryker Price Performance

Shares of NYSE:SYK opened at $369.39 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.13 and a current ratio of 1.85. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $404.87. The firm has a market cap of $141.26 billion, a PE ratio of 43.97, a price-to-earnings-growth ratio of 2.27 and a beta of 0.89. The firm’s fifty day moving average is $359.40 and its 200-day moving average is $371.66.

Stryker (NYSE:SYKGet Free Report) last announced its earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.40 by $0.07. The business had revenue of $7.17 billion during the quarter, compared to analyst estimates of $7.12 billion. Stryker had a return on equity of 24.73% and a net margin of 12.92%.Stryker’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same period last year, the company earned $4.01 EPS. Sell-side analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, December 31st were issued a $0.88 dividend. The ex-dividend date was Wednesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.84. This represents a $3.52 annualized dividend and a yield of 1.0%. Stryker’s dividend payout ratio (DPR) is currently 46.25%.

Trending Headlines about Stryker

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Analyst Upgrades and Downgrades

Several research firms have weighed in on SYK. Truist Financial cut their target price on Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a research note on Thursday, December 18th. Wall Street Zen lowered Stryker from a “buy” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reissued a “hold (c+)” rating on shares of Stryker in a report on Monday, December 22nd. Royal Bank Of Canada reiterated an “outperform” rating and set a $435.00 price objective on shares of Stryker in a research report on Friday, November 14th. Finally, Needham & Company LLC raised their target price on shares of Stryker from $448.00 to $454.00 and gave the company a “buy” rating in a research report on Friday. Twelve analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $426.95.

Check Out Our Latest Stock Analysis on SYK

About Stryker

(Free Report)

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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