Amalgamated Bank Sells 1,748 Shares of Stryker Corporation $SYK

Amalgamated Bank trimmed its position in shares of Stryker Corporation (NYSE:SYK) by 2.4% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 70,184 shares of the medical technology company’s stock after selling 1,748 shares during the quarter. Amalgamated Bank’s holdings in Stryker were worth $27,767,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of SYK. Mid American Wealth Advisory Group Inc. purchased a new stake in shares of Stryker in the 2nd quarter worth $26,000. Sachetta LLC increased its stake in shares of Stryker by 58.7% in the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock worth $29,000 after purchasing an additional 27 shares in the last quarter. Ridgewood Investments LLC increased its stake in shares of Stryker by 48.4% in the 2nd quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock worth $36,000 after purchasing an additional 30 shares in the last quarter. Ransom Advisory Ltd purchased a new stake in shares of Stryker in the 1st quarter worth $37,000. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in shares of Stryker in the 1st quarter worth $40,000. 77.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Barclays increased their price target on Stryker from $443.00 to $453.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Rothschild Redb upgraded Stryker to a “hold” rating in a research note on Thursday, September 18th. Evercore ISI cut their price objective on Stryker from $418.00 to $410.00 and set an “outperform” rating for the company in a research report on Tuesday, October 7th. Truist Financial cut their price objective on Stryker from $415.00 to $407.00 and set a “hold” rating for the company in a research report on Wednesday, October 15th. Finally, BTIG Research raised their price objective on Stryker from $407.00 to $408.00 and gave the company a “buy” rating in a research report on Monday, October 13th. Thirteen research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Stryker currently has a consensus rating of “Moderate Buy” and a consensus target price of $434.32.

Stryker Stock Performance

Stryker stock opened at $369.17 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. The company has a market capitalization of $141.14 billion, a PE ratio of 48.90, a P/E/G ratio of 2.71 and a beta of 0.94. The company has a 50 day moving average price of $379.14 and a 200-day moving average price of $380.62. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, topping analysts’ consensus estimates of $3.07 by $0.06. The company had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. Stryker’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.81 earnings per share. As a group, equities analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. Stryker’s payout ratio is 44.50%.

Insider Buying and Selling

In other news, insider Viju Menon sold 500 shares of the company’s stock in a transaction on Monday, August 25th. The stock was sold at an average price of $390.61, for a total transaction of $195,305.00. Following the transaction, the insider directly owned 12,511 shares of the company’s stock, valued at approximately $4,886,921.71. This represents a 3.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total value of $75,290,000.00. Following the transaction, the director directly owned 3,222,108 shares in the company, valued at approximately $1,212,962,556.60. The trade was a 5.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 5.90% of the company’s stock.

Stryker Company 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.