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

Amalgamated Bank reduced its stake in Stryker Co. (NYSE:SYK) by 0.1% during the third quarter, HoldingsChannel reports. The fund owned 70,998 shares of the medical technology company’s stock after selling 94 shares during the period. Amalgamated Bank’s holdings in Stryker were worth $25,649,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Koshinski Asset Management Inc. bought a new position in shares of Stryker in the first quarter worth about $795,000. Envestnet Portfolio Solutions Inc. raised its position in Stryker by 43.1% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock valued at $6,617,000 after purchasing an additional 5,565 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of Stryker by 38.5% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock valued at $7,084,000 after acquiring an additional 5,502 shares during the period. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Stryker by 78.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock valued at $45,260,000 after acquiring an additional 58,673 shares during the period. Finally, M&G Plc purchased a new position in Stryker during the 1st quarter worth $11,534,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on SYK shares. Truist Financial boosted their price target on Stryker from $370.00 to $380.00 and gave the company a “hold” rating in a research note on Wednesday, October 30th. BTIG Research increased their target price on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Needham & Company LLC upped their price target on Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. UBS Group increased their price objective on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Robert W. Baird increased their price objective on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $393.65.

Insider Buying and Selling

In other Stryker news, VP M Kathryn Fink sold 7,347 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the transaction, the vice president now owns 10,042 shares in the company, valued at $3,685,213.16. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Viju Menon sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now owns 9,069 shares in the company, valued at $3,219,495. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP M Kathryn Fink sold 7,347 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total transaction of $2,696,202.06. Following the transaction, the vice president now owns 10,042 shares in the company, valued at $3,685,213.16. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 10,068 shares of company stock valued at $3,693,972. Company insiders own 5.90% of the company’s stock.

Stryker Trading Down 0.1 %

Shares of Stryker stock opened at $366.90 on Tuesday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. Stryker Co. has a 1 year low of $266.93 and a 1 year high of $374.63. The company has a market capitalization of $139.87 billion, a P/E ratio of 39.32, a P/E/G ratio of 2.77 and a beta of 0.91. The business has a 50 day moving average price of $360.43 and a 200 day moving average price of $344.64.

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

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were given a dividend of $0.80 per share. The ex-dividend date was Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a yield of 0.87%. Stryker’s dividend payout ratio (DPR) is 34.30%.

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.