M&T Bank Corp decreased its holdings in Stryker Co. (NYSE:SYK) by 14.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 57,422 shares of the medical technology company’s stock after selling 9,802 shares during the period. M&T Bank Corp’s holdings in Stryker were worth $10,347,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in SYK. Evolution Wealth Advisors LLC raised its stake in Stryker by 64.4% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 143 shares of the medical technology company’s stock valued at $26,000 after purchasing an additional 56 shares during the period. TFG Advisers LLC lifted its stake in Stryker by 0.4% in the 1st quarter. TFG Advisers LLC now owns 13,141 shares of the medical technology company’s stock worth $2,187,000 after purchasing an additional 57 shares in the last quarter. AIA Investment Management Private Ltd boosted its holdings in shares of Stryker by 10.1% during the 1st quarter. AIA Investment Management Private Ltd now owns 624 shares of the medical technology company’s stock valued at $104,000 after purchasing an additional 57 shares during the last quarter. Larson Financial Group LLC grew its position in shares of Stryker by 6.6% during the second quarter. Larson Financial Group LLC now owns 922 shares of the medical technology company’s stock valued at $166,000 after purchasing an additional 57 shares in the last quarter. Finally, Mattern Wealth Management LLC increased its holdings in shares of Stryker by 1.1% in the first quarter. Mattern Wealth Management LLC now owns 5,365 shares of the medical technology company’s stock worth $893,000 after purchasing an additional 58 shares during the last quarter. Hedge funds and other institutional investors own 71.24% of the company’s stock.
Several equities analysts have weighed in on the company. Cfra cut their price target on Stryker from $234.00 to $231.00 and set a “strong-buy” rating for the company in a report on Friday, May 1st. Raymond James reduced their price target on shares of Stryker from $240.00 to $205.00 and set an “outperform” rating on the stock in a research report on Monday, April 13th. UBS Group increased their price objective on shares of Stryker from $202.00 to $215.00 and gave the company a “neutral” rating in a research report on Friday. Barclays cut shares of Stryker from an “equal weight” rating to an “underweight” rating and set a $155.00 price objective for the company. in a research note on Monday, April 13th. Finally, Deutsche Bank decreased their target price on shares of Stryker from $243.00 to $228.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Stryker currently has an average rating of “Buy” and an average price target of $216.25.
Shares of SYK opened at $193.30 on Friday. The firm has a fifty day moving average price of $186.61 and a 200-day moving average price of $189.31. The company has a current ratio of 2.58, a quick ratio of 1.77 and a debt-to-equity ratio of 0.72. The firm has a market capitalization of $72.45 billion, a P/E ratio of 28.10, a P/E/G ratio of 3.36 and a beta of 0.84. Stryker Co. has a 12-month low of $124.54 and a 12-month high of $226.30.
Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, July 30th. The medical technology company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The company had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.63 billion. Stryker had a net margin of 11.38% and a return on equity of 20.53%. Analysts predict that Stryker Co. will post 6.26 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be issued a $0.575 dividend. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 1.19%. Stryker’s payout ratio is 27.85%.
In other Stryker news, VP Katherine Ann Owen sold 9,149 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $186.79, for a total transaction of $1,708,941.71. Following the transaction, the vice president now owns 1,085 shares of the company’s stock, valued at approximately $202,667.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Glenn S. Boehnlein sold 10,351 shares of the business’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $185.24, for a total transaction of $1,917,419.24. Following the completion of the sale, the chief financial officer now owns 16,321 shares of the company’s stock, valued at approximately $3,023,302.04. The disclosure for this sale can be found here. In the last three months, insiders sold 30,670 shares of company stock worth $5,775,251. 6.80% of the stock is owned by insiders.
Stryker Company Profile
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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