Atlantic Union Bankshares Corp Boosts Stake in Stryker Corporation $SYK

Atlantic Union Bankshares Corp boosted its holdings in Stryker Corporation (NYSE:SYK) by 6.2% in the third quarter, HoldingsChannel reports. The firm owned 27,255 shares of the medical technology company’s stock after purchasing an additional 1,589 shares during the period. Atlantic Union Bankshares Corp’s holdings in Stryker were worth $10,075,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nicholson Wealth Management Group LLC boosted its stake in shares of Stryker by 3.3% during the 3rd quarter. Nicholson Wealth Management Group LLC now owns 4,757 shares of the medical technology company’s stock valued at $1,759,000 after buying an additional 150 shares during the last quarter. Bridges Investment Management Inc. raised its holdings in Stryker by 30.3% in the third quarter. Bridges Investment Management Inc. now owns 124,706 shares of the medical technology company’s stock valued at $46,100,000 after acquiring an additional 28,968 shares in the last quarter. United Community Bank boosted its stake in Stryker by 5.7% during the 3rd quarter. United Community Bank now owns 1,348 shares of the medical technology company’s stock valued at $498,000 after acquiring an additional 73 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in Stryker by 20.8% during the 3rd quarter. Jones Financial Companies Lllp now owns 62,596 shares of the medical technology company’s stock worth $23,101,000 after acquiring an additional 10,767 shares in the last quarter. Finally, Oak Harbor Wealth Partners LLC increased its position in shares of Stryker by 3.5% in the 3rd quarter. Oak Harbor Wealth Partners LLC now owns 5,810 shares of the medical technology company’s stock worth $2,148,000 after purchasing an additional 199 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Stock Down 0.3%

Stryker stock opened at $368.35 on Tuesday. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $404.87. The stock has a market cap of $140.86 billion, a price-to-earnings ratio of 43.85, a PEG ratio of 2.37 and a beta of 0.87. The company’s 50-day moving average price is $359.36 and its two-hundred day moving average price is $371.38. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, topping analysts’ consensus estimates of $4.40 by $0.07. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The company had revenue of $7.17 billion for the quarter, compared to the consensus estimate of $7.12 billion. During the same quarter in the previous year, the business earned $4.01 EPS. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. On average, analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st were given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. This is an increase from Stryker’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend was Wednesday, December 31st. Stryker’s payout ratio is 41.90%.

Insider Activity

In related news, CFO Preston Wendell Wells sold 165 shares of the firm’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $365.88, for a total value of $60,370.20. Following the completion of the transaction, the chief financial officer owned 6,694 shares of the company’s stock, valued at approximately $2,449,200.72. This trade represents a 2.41% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 276,173 shares of the firm’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $353.28, for a total value of $97,566,397.44. Following the completion of the sale, the director directly owned 2,702,108 shares of the company’s stock, valued at approximately $954,600,714.24. This trade represents a 9.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 522,118 shares of company stock worth $185,381,932 over the last 90 days. 5.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on SYK shares. Citizens Jmp raised Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 target price on the stock in a report on Friday, December 19th. TD Cowen cut Stryker from a “buy” rating to a “hold” rating and set a $387.00 price objective on the stock. in a research note on Monday, January 26th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $435.00 price objective on shares of Stryker in a report on Friday, November 14th. BTIG Research increased their target price on shares of Stryker from $410.00 to $412.00 and gave the stock a “buy” rating in a report on Friday. Finally, Sanford C. Bernstein lifted their price target on shares of Stryker from $450.00 to $465.00 and gave the company an “outperform” rating in a report on Friday, January 9th. Twelve analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $426.56.

Stryker Company Profile

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.