Atlanta Consulting Group Advisors LLC Invests $256,000 in Stryker Co. (NYSE:SYK)

Atlanta Consulting Group Advisors LLC purchased a new position in Stryker Co. (NYSE:SYK) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 709 shares of the medical technology company’s stock, valued at approximately $256,000.

Several other institutional investors also recently bought and sold shares of the company. Centennial Bank AR grew its holdings in shares of Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after buying an additional 48 shares during the last quarter. HBW Advisory Services LLC bought a new position in Stryker in the 3rd quarter valued at approximately $42,000. Hara Capital LLC bought a new stake in shares of Stryker in the 3rd quarter worth $42,000. Grove Bank & Trust raised its stake in shares of Stryker by 84.8% in the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after purchasing an additional 56 shares during the last quarter. Finally, DT Investment Partners LLC lifted its holdings in shares of Stryker by 114.3% during the third quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock valued at $49,000 after purchasing an additional 72 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Price Performance

NYSE:SYK opened at $390.08 on Monday. The stock 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 company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The business’s 50-day simple moving average is $364.07 and its two-hundred day simple moving average is $347.54. Stryker Co. has a 52 week low of $282.35 and a 52 week high of $392.70.

Stryker (NYSE:SYK) last posted its quarterly 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. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. During the same period in the prior year, the company posted $2.46 EPS. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. As a group, analysts forecast that Stryker Co. will post 12.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently commented on SYK. Royal Bank of Canada lifted their price objective on Stryker from $386.00 to $400.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Wells Fargo & Company increased their price objective on shares of Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Canaccord Genuity Group raised their target price on shares of Stryker from $360.00 to $400.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Truist Financial increased their price target on Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a report on Wednesday, October 30th. Finally, Barclays lifted their price objective on Stryker from $402.00 to $418.00 and gave the stock an “overweight” rating in a report on Thursday, October 31st. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $393.65.

Insider Buying and Selling at Stryker

In related news, VP M Kathryn Fink sold 7,347 shares of the stock in a transaction that occurred on 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 completion of the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. This represents a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Viju Menon sold 600 shares of Stryker stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 9,069 shares in the company, valued at approximately $3,219,495. The trade was a 6.21 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,381 shares of company stock valued at $24,825,275 in the last 90 days. Insiders own 5.50% of the company’s stock.

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.