Patton Albertson Miller Group LLC Sells 5,559 Shares of Stryker Corporation (NYSE:SYK)

Patton Albertson Miller Group LLC decreased its holdings in Stryker Corporation (NYSE:SYK) by 26.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 15,335 shares of the medical technology company’s stock after selling 5,559 shares during the quarter. Patton Albertson Miller Group LLC’s holdings in Stryker were worth $5,709,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in Stryker by 0.8% in the 4th quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company’s stock valued at $11,773,213,000 after acquiring an additional 252,188 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of 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 last quarter. FMR LLC boosted its position in shares of Stryker by 10.0% during the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company’s stock valued at $2,892,946,000 after buying an additional 727,850 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Stryker by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 7,073,562 shares of the medical technology company’s stock valued at $2,539,033,000 after buying an additional 168,436 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Stryker during the fourth quarter valued at approximately $1,710,744,000. Institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the topic of several analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $442.00 target price on shares of Stryker in a research report on Friday, March 21st. JMP Securities reissued a “market perform” rating on shares of Stryker in a research report on Monday, May 5th. Truist Financial lifted their target price on shares of Stryker from $390.00 to $400.00 and gave the stock a “hold” rating in a research report on Monday, May 5th. Evercore ISI lifted their target price on shares of Stryker from $390.00 to $415.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Finally, Wall Street Zen cut shares of Stryker from a “buy” rating to a “hold” rating in a research report on Friday, June 27th. Five investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $428.55.

Stryker Stock Down 0.5%

Stryker stock opened at $389.02 on Friday. Stryker Corporation has a 1-year low of $314.93 and a 1-year high of $406.19. The firm has a market capitalization of $148.49 billion, a price-to-earnings ratio of 52.57, a P/E/G ratio of 2.95 and a beta of 0.91. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. The firm has a 50 day simple moving average of $385.51 and a 200 day simple moving average of $377.73.

Stryker (NYSE:SYK) last released its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share 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 business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.68 billion. During the same period in the previous year, the business earned $2.50 EPS. Stryker’s revenue was up 11.9% compared to the same quarter last year. On average, analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a $0.84 dividend. The ex-dividend date is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. Stryker’s dividend payout ratio is 45.41%.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction that occurred on 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 in the company, valued at approximately $1,288,195,208.96. The trade was a 5.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.90% of the company’s stock.

Stryker 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.