Amalgamated Bank Acquires 110 Shares of Stryker Co. (NYSE:SYK)

Amalgamated Bank grew its holdings in Stryker Co. (NYSE:SYK) by 0.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 71,108 shares of the medical technology company’s stock after purchasing an additional 110 shares during the period. Amalgamated Bank’s holdings in Stryker were worth $25,602,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in SYK. Assenagon Asset Management S.A. lifted its holdings in shares of Stryker by 15.6% in the 3rd quarter. Assenagon Asset Management S.A. now owns 10,304 shares of the medical technology company’s stock worth $3,722,000 after buying an additional 1,392 shares during the period. Arkadios Wealth Advisors boosted its position in Stryker by 23.0% during the 3rd quarter. Arkadios Wealth Advisors now owns 732 shares of the medical technology company’s stock valued at $265,000 after acquiring an additional 137 shares in the last quarter. J.W. Cole Advisors Inc. raised its position in shares of Stryker by 23.4% in the 3rd quarter. J.W. Cole Advisors Inc. now owns 3,932 shares of the medical technology company’s stock worth $1,420,000 after acquiring an additional 746 shares in the last quarter. Welch Group LLC lifted its stake in shares of Stryker by 7.2% during the 3rd quarter. Welch Group LLC now owns 19,105 shares of the medical technology company’s stock worth $6,902,000 after purchasing an additional 1,284 shares during the last quarter. Finally, Forbes J M & Co. LLP grew its stake in Stryker by 3.6% in the third quarter. Forbes J M & Co. LLP now owns 3,648 shares of the medical technology company’s stock valued at $1,318,000 after purchasing an additional 127 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Up 1.4 %

SYK stock opened at $388.11 on Tuesday. The stock has a market capitalization of $148.09 billion, a P/E ratio of 50.01, a P/E/G ratio of 2.93 and a beta of 0.96. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19. The firm has a 50-day simple moving average of $378.38 and a 200-day simple moving average of $369.78. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating 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 period in the prior year, the firm earned $3.46 EPS. Equities analysts forecast that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

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

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on SYK shares. Barclays raised their price target on shares of Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Wells Fargo & Company raised their price objective on Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Citigroup upped their target price on Stryker from $411.00 to $450.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Truist Financial lifted their price objective on shares of Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, BTIG Research upped their price objective on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $422.15.

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.