Atlanta Consulting Group Advisors LLC Makes New Investment in Stryker Co. (NYSE:SYK)

Atlanta Consulting Group Advisors LLC bought a new position in Stryker Co. (NYSE:SYK) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 709 shares of the medical technology company’s stock, valued at approximately $256,000.

A number of other large investors have also recently made changes to their positions in SYK. Hillsdale Investment Management Inc. purchased a new stake in shares of Stryker in the first quarter worth approximately $184,000. Trustmark National Bank Trust Department bought a new position in Stryker in the 1st quarter valued at $283,000. O Shaughnessy Asset Management LLC increased its stake in Stryker by 11.9% in the first quarter. O Shaughnessy Asset Management LLC now owns 35,737 shares of the medical technology company’s stock worth $12,789,000 after purchasing an additional 3,800 shares during the period. UniSuper Management Pty Ltd boosted its stake in shares of Stryker by 169.7% during the first quarter. UniSuper Management Pty Ltd now owns 7,364 shares of the medical technology company’s stock valued at $2,635,000 after purchasing an additional 4,634 shares during the period. Finally, Hilltop Partners LLC bought a new position in shares of Stryker in the first quarter worth about $236,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP M Kathryn Fink sold 2,121 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the sale, the vice president now owns 10,042 shares in the company, valued at $3,715,540. The trade was a 17.44 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 67,381 shares of company stock valued at $24,825,275. 5.50% of the stock is owned by company insiders.

Stryker Price Performance

Shares of NYSE SYK opened at $390.08 on Monday. Stryker Co. has a fifty-two week low of $282.35 and a fifty-two week high of $392.70. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The company has a market cap of $148.71 billion, a PE ratio of 41.81, a P/E/G ratio of 2.94 and a beta of 0.91. The business has a 50-day simple moving average of $364.07 and a two-hundred day simple moving average of $347.54.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.10. The company had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. Stryker’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.46 EPS. As a group, equities analysts expect that Stryker Co. will post 12.06 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on SYK shares. UBS Group lifted their price objective on shares of Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Barclays lifted their price target on shares of Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Truist Financial increased their price objective on Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their target price on Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Wolfe Research began coverage on Stryker in a research note on Tuesday, September 10th. They set an “outperform” rating and a $405.00 price target on the stock. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $393.65.

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.