Atlantic Union Bankshares Corp Sells 34 Shares of Stryker Co. (NYSE:SYK)

Atlantic Union Bankshares Corp decreased its holdings in Stryker Co. (NYSE:SYK) by 1.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,742 shares of the medical technology company’s stock after selling 34 shares during the period. Atlantic Union Bankshares Corp’s holdings in Stryker were worth $981,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Norges Bank bought a new position in Stryker during the fourth quarter valued at $1,260,562,000. Global Assets Advisory LLC bought a new position in Stryker during the 1st quarter valued at about $341,049,000. Price T Rowe Associates Inc. MD raised its position in Stryker by 5.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock worth $3,755,782,000 after purchasing an additional 642,178 shares during the period. Confluence Investment Management LLC bought a new stake in Stryker in the first quarter worth about $93,369,000. Finally, Morgan Stanley boosted its position in shares of Stryker by 4.4% during the third quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock valued at $1,452,493,000 after buying an additional 223,728 shares during the period. 77.09% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on SYK shares. Evercore ISI raised their price target on Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday. Robert W. Baird upped their price target on shares of Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. UBS Group raised their price target on shares of Stryker from $339.00 to $351.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Finally, The Goldman Sachs Group began coverage on Stryker in a report on Thursday, May 30th. They issued a “neutral” rating and a $372.00 target price for the company. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $370.58.

Stryker Trading Down 0.0 %

NYSE:SYK opened at $340.43 on Friday. The firm has a 50 day moving average of $337.38 and a 200 day moving average of $333.39. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $361.41. The stock has a market capitalization of $129.69 billion, a price-to-earnings ratio of 38.86, a PEG ratio of 2.68 and a beta of 0.92.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, beating the consensus estimate of $2.36 by $0.14. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The firm had revenue of $5.24 billion during the quarter, compared to analyst estimates of $5.10 billion. During the same quarter in the prior year, the business posted $2.14 EPS. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Stryker Co. will post 11.95 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.20 annualized dividend and a dividend yield of 0.94%. Stryker’s dividend payout ratio (DPR) is currently 36.53%.

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.