Amalgamated Bank Cuts Holdings in Stryker Co. (NYSE:SYK)

Amalgamated Bank lowered its holdings in Stryker Co. (NYSE:SYK) by 5.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 84,382 shares of the medical technology company’s stock after selling 4,817 shares during the quarter. Amalgamated Bank’s holdings in Stryker were worth $25,269,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of SYK. Vanguard Group Inc. boosted its holdings in shares of Stryker by 0.5% during the 3rd quarter. Vanguard Group Inc. now owns 30,665,520 shares of the medical technology company’s stock valued at $8,379,967,000 after acquiring an additional 143,631 shares during the last quarter. FMR LLC lifted its position in Stryker by 2.5% during the third quarter. FMR LLC now owns 5,972,582 shares of the medical technology company’s stock valued at $1,632,127,000 after purchasing an additional 144,208 shares during the period. Morgan Stanley boosted its holdings in Stryker by 4.4% in the third quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock worth $1,452,493,000 after purchasing an additional 223,728 shares during the last quarter. Fisher Asset Management LLC raised its stake in Stryker by 2.6% during the 4th quarter. Fisher Asset Management LLC now owns 4,042,317 shares of the medical technology company’s stock valued at $1,210,512,000 after buying an additional 103,326 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Stryker by 3.9% in the 3rd quarter. Northern Trust Corp now owns 3,505,595 shares of the medical technology company’s stock worth $957,974,000 after buying an additional 131,590 shares during the last quarter. 77.09% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 201,146 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the completion of the transaction, the director now owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Stryker news, Director Ronda E. Stryker sold 201,146 shares of the business’s stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the sale, the director now directly owns 3,755,128 shares in the company, valued at $1,287,633,391.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Allan C. Golston sold 3,273 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the completion of the transaction, the director now directly owns 14,242 shares of the company’s stock, valued at approximately $4,856,522. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 212,109 shares of company stock worth $72,845,768. Insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on SYK shares. Truist Financial boosted their price objective on shares of Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a research report on Wednesday, January 31st. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and boosted their price objective for the company from $315.00 to $360.00 in a report on Wednesday, January 31st. Piper Sandler lifted their target price on Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday. Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 price target on the stock in a report on Wednesday, January 31st. Finally, Evercore ISI upped their target price on shares of Stryker from $340.00 to $370.00 and gave the stock an “outperform” rating in a research note on Thursday, April 4th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and an average price target of $359.00.

Stryker Price Performance

Shares of Stryker stock traded down $1.49 on Thursday, reaching $326.63. The company’s stock had a trading volume of 1,839,462 shares, compared to its average volume of 1,325,064. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $361.41. The company has a market capitalization of $124.27 billion, a P/E ratio of 37.27, a PEG ratio of 2.71 and a beta of 0.91. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.59. The stock has a 50-day moving average price of $348.05 and a 200-day moving average price of $316.78.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The company had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.44%. The firm’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.14 earnings per share. Analysts expect that Stryker Co. will post 11.86 EPS for the current year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Wednesday, March 27th. 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.