Amalgamated Bank Increases Stake in Stryker Co. (NYSE:SYK)

Amalgamated Bank lifted its stake in shares of Stryker Co. (NYSE:SYK) by 0.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 71,108 shares of the medical technology company’s stock after buying an additional 110 shares during the quarter. Amalgamated Bank’s holdings in Stryker were worth $25,602,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Dunhill Financial LLC lifted its position in shares of Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 37 shares during the last quarter. Centricity Wealth Management LLC purchased a new position in Stryker in the fourth quarter valued at $30,000. BankPlus Trust Department acquired a new position in shares of Stryker during the 4th quarter worth about $33,000. Darwin Wealth Management LLC purchased a new stake in Stryker during the third quarter worth approximately $36,000. Finally, Activest Wealth Management purchased a new stake in Stryker during the fourth quarter worth approximately $36,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on SYK. UBS Group raised their price objective on shares of Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $370.00 to $445.00 in a report on Monday, December 2nd. Robert W. Baird boosted their target price on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Barclays raised their price target on Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. Finally, Truist Financial raised their target price on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $422.15.

Insider Activity at Stryker

In related news, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the completion of the sale, the director now directly owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the transaction, the director now directly owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. This represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. Insiders own 5.90% of the company’s stock.

Stryker Stock Up 1.4 %

SYK opened at $388.11 on Tuesday. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The business’s fifty day moving average is $378.38 and its two-hundred day moving average is $369.78. The company has a market cap of $148.09 billion, a price-to-earnings ratio of 50.01, a PEG ratio of 2.93 and a beta of 0.96.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter in the prior year, the business earned $3.46 earnings per share. Analysts anticipate that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.84 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.87%. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

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.