Atria Investments LLC Raises Position in Stryker Corporation (SYK)
Atria Investments LLC raised its stake in Stryker Corporation (NYSE:SYK) by 18.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 9,164 shares of the medical technology company’s stock after acquiring an additional 1,407 shares during the quarter. Atria Investments LLC’s holdings in Stryker were worth $1,419,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in Stryker by 2.8% in the second quarter. Vanguard Group Inc. now owns 24,078,709 shares of the medical technology company’s stock valued at $3,341,643,000 after purchasing an additional 657,656 shares during the period. BlackRock Inc. raised its position in Stryker by 5.2% in the second quarter. BlackRock Inc. now owns 23,115,853 shares of the medical technology company’s stock valued at $3,208,017,000 after purchasing an additional 1,139,082 shares during the period. Jensen Investment Management Inc. raised its position in Stryker by 11.3% in the third quarter. Jensen Investment Management Inc. now owns 2,472,476 shares of the medical technology company’s stock valued at $351,141,000 after purchasing an additional 251,685 shares during the period. Legal & General Group Plc raised its position in Stryker by 2.8% in the third quarter. Legal & General Group Plc now owns 1,805,572 shares of the medical technology company’s stock valued at $256,393,000 after purchasing an additional 49,143 shares during the period. Finally, Wells Fargo & Company MN raised its position in Stryker by 4.8% in the third quarter. Wells Fargo & Company MN now owns 1,742,959 shares of the medical technology company’s stock valued at $247,536,000 after purchasing an additional 79,551 shares during the period. 74.88% of the stock is currently owned by institutional investors.
Stryker Corporation (NYSE:SYK) opened at $161.28 on Friday. The company has a market capitalization of $60,360.00, a PE ratio of 34.39, a P/E/G ratio of 2.30 and a beta of 0.78. Stryker Corporation has a 52 week low of $119.17 and a 52 week high of $164.20. The company has a quick ratio of 1.61, a current ratio of 2.37 and a debt-to-equity ratio of 0.63.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be paid a $0.47 dividend. This is an increase from Stryker’s previous quarterly dividend of $0.43. This represents a $1.88 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date is Thursday, December 28th. Stryker’s payout ratio is presently 40.09%.
In other Stryker news, insider Lonny J. Carpenter sold 5,000 shares of Stryker stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $155.34, for a total value of $776,700.00. Following the completion of the transaction, the insider now directly owns 83,207 shares in the company, valued at $12,925,375.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 7.40% of the company’s stock.
Several research analysts have commented on SYK shares. JPMorgan Chase & Co. raised Stryker from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 2nd. Robert W. Baird raised Stryker from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $161.00 to $173.00 in a research report on Thursday, November 16th. BMO Capital Markets raised Stryker to a “market perform” rating and set a $163.00 price objective on the stock in a research report on Tuesday, December 12th. Zacks Investment Research lowered Stryker from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. Finally, SunTrust Banks reissued a “buy” rating and issued a $161.00 price objective on shares of Stryker in a research report on Friday, November 17th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $156.60.
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Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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