Atle Fund Management AB Buys 4,468 Shares of Stryker Corporation $SYK

Key Points

• Atle Fund Management AB increased its stake in Stryker Corporation by 19.4% during Q2, holding 27,466 shares valued at approximately $10.87 million.
• Insider activity saw Director Ronda E. Stryker sell 200,000 shares for a total of $75.29 million, representing a 5.84% decrease in her position.
• Equities analysts have a consensus target price of $430.33 for Stryker stock, with 14 analysts rating it a Buy and 6 giving it a Hold rating.

Atle Fund Management AB increased its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 19.4% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 27,466 shares of the medical technology company's stock after buying an additional 4,468 shares during the period. Stryker comprises about 4.6% of Atle Fund Management AB's holdings, making the stock its 6th largest position. Atle Fund Management AB's holdings in Stryker were worth $10,866,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Capital A Wealth Management LLC acquired a new stake in Stryker in the fourth quarter valued at approximately $26,000. Goodman Advisory Group LLC acquired a new stake in Stryker during the 1st quarter worth about $32,000. City Holding Co. grew its stake in shares of Stryker by 528.6% in the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after buying an additional 74 shares in the last quarter. Ransom Advisory Ltd acquired a new stake in Stryker in the 1st quarter worth approximately $37,000. Finally, Smallwood Wealth Investment Management LLC acquired a new position in shares of Stryker in the first quarter valued at $40,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Trading Down 0.3%

Shares of SYK stock traded down $1.23 during trading hours on Friday, hitting $376.61. The company had a trading volume of 1,924,253 shares, compared to its average volume of 985,669. The company's fifty day moving average is $387.52 and its 200 day moving average is $379.05. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The stock has a market capitalization of $143.98 billion, a PE ratio of 49.88, a price-to-earnings-growth ratio of 2.71 and a beta of 0.93.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating analysts' consensus estimates of $3.07 by $0.06. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. During the same period last year, the business earned $2.81 EPS. The company's revenue was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Research analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.36 annualized dividend and a yield of 0.9%. Stryker's dividend payout ratio is 44.50%.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on SYK shares. Evercore ISI increased their target price on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Redburn Partners set a $420.00 price objective on Stryker in a report on Thursday. Needham & Company LLC upped their price target on Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Rothschild & Co Redburn began coverage on Stryker in a report on Thursday. They issued a "neutral" rating and a $420.00 price target on the stock. Finally, Wall Street Zen raised Stryker from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Fourteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $430.33.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the completion of the sale, the director directly owned 3,222,108 shares in the company, valued at $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Viju Menon sold 500 shares of the firm's stock in a transaction on Monday, August 25th. The shares were sold at an average price of $390.61, for a total transaction of $195,305.00. Following the sale, the insider directly owned 12,511 shares of the company's stock, valued at approximately $4,886,921.71. The trade was a 3.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.20% of the company's stock.

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.