Atlas Wealth Partners LLC Makes New Investment in Stryker Co. (NYSE:SYK)

Atlas Wealth Partners LLC bought a new position in shares of Stryker Co. (NYSE:SYK - Free Report) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,500 shares of the medical technology company's stock, valued at approximately $543,000. Stryker makes up approximately 0.8% of Atlas Wealth Partners LLC's portfolio, making the stock its 22nd largest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Global Assets Advisory LLC bought a new stake in Stryker in the 1st quarter valued at $341,049,000. JPMorgan Chase & Co. lifted its holdings in shares of Stryker by 10.4% in the first quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company's stock valued at $3,096,078,000 after purchasing an additional 813,311 shares in the last quarter. 1832 Asset Management L.P. boosted its position in shares of Stryker by 146.9% during the first quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company's stock worth $314,449,000 after buying an additional 522,817 shares during the period. American Century Companies Inc. grew its holdings in shares of Stryker by 287.6% during the second quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company's stock worth $172,033,000 after buying an additional 375,166 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in Stryker by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 31,459,393 shares of the medical technology company's stock valued at $11,258,373,000 after buying an additional 309,592 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on SYK shares. Morgan Stanley raised their price target on shares of Stryker from $345.00 to $350.00 and gave the stock an "equal weight" rating in a research note on Monday, July 15th. Stifel Nicolaus lowered their price target on shares of Stryker from $375.00 to $365.00 and set a "buy" rating on the stock in a research note on Wednesday, July 31st. UBS Group increased their price objective on shares of Stryker from $351.00 to $366.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 31st. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $386.00 target price on shares of Stryker in a research report on Wednesday, July 31st. Finally, Piper Sandler reissued an "overweight" rating and set a $380.00 price target on shares of Stryker in a research report on Tuesday, September 10th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $381.16.

Stryker Stock Performance

SYK traded up $9.83 on Friday, reaching $369.56. The company had a trading volume of 1,589,555 shares, compared to its average volume of 921,887. The stock has a market cap of $140.78 billion, a P/E ratio of 42.19, a P/E/G ratio of 2.85 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. Stryker Co. has a fifty-two week low of $255.22 and a fifty-two week high of $374.63. The company's fifty day moving average is $355.79 and its 200 day moving average is $343.20.

Stryker (NYSE:SYK - Get Free Report) last announced its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping analysts' consensus estimates of $2.79 by $0.02. The company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm's quarterly revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.54 earnings per share. As a group, analysts predict that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.87%. Stryker's dividend payout ratio (DPR) is presently 36.53%.

Insider Buying and Selling

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the transaction, the vice president now owns 10,042 shares in the company, valued at $3,685,213.16. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, insider Viju Menon sold 600 shares of the firm's stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP M Kathryn Fink sold 7,347 shares of the company's stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the sale, the vice president now directly owns 10,042 shares of the company's stock, valued at $3,685,213.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 220,068 shares of company stock valued at $71,811,372. 5.90% of the stock is owned by company insiders.

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.