Atria Investments Inc Sells 901 Shares of Stryker Corporation (NYSE:SYK)

Key Points

• Atria Investments Inc has reduced its stake in Stryker Corporation by 3.4%, now owning 25,642 shares worth approximately $9.5 million.
• Director Ronda E. Stryker sold 200,000 shares for about $75.39 million, which reflects a 5.53% decrease in her ownership.
• Stryker Corporation reported a quarterly earnings beat with $2.84 EPS compared to an estimated $2.73, reflecting an 11.9% year-over-year revenue increase.

Atria Investments Inc lessened its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 3.4% in the first quarter, according to its most recent filing with the SEC. The firm owned 25,642 shares of the medical technology company's stock after selling 901 shares during the quarter. Atria Investments Inc's holdings in Stryker were worth $9,545,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD raised its position in Stryker by 0.5% during 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 buying an additional 54,693 shares during the period. FMR LLC lifted its stake in Stryker by 10.0% in the 4th quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock worth $2,892,946,000 after acquiring an additional 727,850 shares in the last quarter. Geode Capital Management LLC lifted its stake in Stryker by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company's stock worth $2,539,033,000 after acquiring an additional 168,436 shares in the last quarter. Norges Bank purchased a new stake in Stryker in the 4th quarter worth about $1,710,744,000. Finally, Northern Trust Corp lifted its position in Stryker by 13.2% in the 4th quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company's stock worth $1,298,426,000 after buying an additional 420,153 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction dated 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 completion of the transaction, the director directly owned 3,417,326 shares of the company's stock, valued at $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

SYK has been the subject of several research reports. Roth Mkm increased their price objective on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Sanford C. Bernstein set a $450.00 price objective on shares of Stryker in a research report on Monday, May 5th. Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. BTIG Research reiterated a "buy" rating on shares of Stryker in a research report on Monday, July 14th. Finally, JMP Securities reiterated a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Four investment 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 stock presently has an average rating of "Moderate Buy" and a consensus target price of $428.55.

Stryker Trading Down 0.3%

SYK stock traded down $1.08 during midday trading on Monday, hitting $402.45. 251,017 shares of the company's stock were exchanged, compared to its average volume of 1,437,443. The stock's fifty day moving average price is $386.37 and its 200-day moving average price is $379.44. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.00 and a current ratio of 1.64. The company has a market cap of $153.61 billion, a PE ratio of 54.34, a price-to-earnings-growth ratio of 2.99 and a beta of 0.91. Stryker Corporation has a one year low of $314.93 and a one year high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last posted its 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. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The company's revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the company posted $2.50 earnings per share. Research analysts predict that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.83%. Stryker's dividend payout ratio is currently 45.41%.

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.