OneAscent Family Office LLC Acquires Shares of 1,908 Stryker Corporation (NYSE:SYK)

OneAscent Family Office LLC acquired a new stake in Stryker Corporation (NYSE:SYK - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,908 shares of the medical technology company's stock, valued at approximately $712,000.

A number of other institutional investors have also recently bought and sold shares of SYK. Norges Bank bought a new stake in shares of Stryker during the 4th quarter worth approximately $1,710,744,000. GAMMA Investing LLC lifted its holdings in shares of Stryker by 43,226.8% during the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock worth $772,390,000 after acquiring an additional 2,070,133 shares during the period. FMR LLC lifted its holdings in shares of Stryker by 10.0% during 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 during the period. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Stryker during the 4th quarter worth approximately $154,140,000. Finally, Northern Trust Corp lifted its holdings in shares of Stryker by 13.2% during 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 acquiring an additional 420,153 shares during the period. Institutional investors own 77.09% of the company's stock.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value 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 approximately $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 5.90% of the company's stock.

Analyst Ratings Changes

SYK has been the subject of a number of recent analyst reports. Citigroup reaffirmed a "buy" rating and set a $455.00 price target (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. BTIG Research reissued a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Sanford C. Bernstein set a $450.00 price objective on shares of Stryker in a research note on Monday, May 5th. Evercore ISI increased their price objective on shares of Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Finally, Truist Financial increased their price objective on shares of Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a research note on Monday, May 5th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $428.55.

Stryker Price Performance

SYK stock opened at $388.84 on Friday. Stryker Corporation has a 1 year low of $314.93 and a 1 year high of $406.19. The company has a market cap of $148.42 billion, a P/E ratio of 52.55, a PEG ratio of 2.94 and a beta of 0.91. The firm has a 50-day moving average of $385.67 and a 200 day moving average of $378.06. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $5.68 billion. During the same period last year, the company posted $2.50 EPS. Stryker's revenue was up 11.9% on a year-over-year basis. On average, sell-side analysts forecast that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a $0.84 dividend. The ex-dividend date is Monday, June 30th. This represents a $3.36 annualized dividend and a yield of 0.86%. Stryker's dividend payout ratio (DPR) is presently 45.41%.

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.

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