M&T Bank Corp Has $27,132,000 Position in Stryker Corp. (SYK)
M&T Bank Corp reduced its position in shares of Stryker Corp. (NYSE:SYK) by 4.4% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 233,071 shares of the medical technology company’s stock after selling 10,713 shares during the period. M&T Bank Corp owned about 0.06% of Stryker Corp. worth $27,132,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in SYK. Central Bank & Trust Co. boosted its position in Stryker Corp. by 2.5% in the second quarter. Central Bank & Trust Co. now owns 49,387 shares of the medical technology company’s stock worth $5,918,000 after buying an additional 1,188 shares during the last quarter. Perkins Coie Trust Co boosted its position in Stryker Corp. by 2.2% in the second quarter. Perkins Coie Trust Co now owns 20,761 shares of the medical technology company’s stock worth $2,487,000 after buying an additional 451 shares during the last quarter. Bank of Stockton boosted its position in Stryker Corp. by 3.8% in the second quarter. Bank of Stockton now owns 5,356 shares of the medical technology company’s stock worth $642,000 after buying an additional 195 shares during the last quarter. Exxonmobil Investment Management Inc. TX boosted its position in Stryker Corp. by 6.6% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 81,316 shares of the medical technology company’s stock worth $9,744,000 after buying an additional 5,034 shares during the last quarter. Finally, Lau Associates LLC purchased a new position in Stryker Corp. during the second quarter worth about $204,000. Hedge funds and other institutional investors own 74.90% of the company’s stock.
Shares of Stryker Corp. (NYSE:SYK) traded up 2.78% during mid-day trading on Tuesday, reaching $116.09. 599,693 shares of the company’s stock were exchanged. The company’s 50-day moving average price is $113.51 and its 200-day moving average price is $115.06. The company has a market capitalization of $43.47 billion, a PE ratio of 26.42 and a beta of 0.86. Stryker Corp. has a one year low of $86.68 and a one year high of $123.55.
Stryker Corp. (NYSE:SYK) last released its earnings results on Thursday, October 27th. The medical technology company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates of $1.37 by $0.02. The company earned $2.83 billion during the quarter, compared to analysts’ expectations of $2.81 billion. Stryker Corp. had a net margin of 15.24% and a return on equity of 23.61%. Stryker Corp.’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period last year, the business earned $1.25 EPS. On average, equities analysts expect that Stryker Corp. will post $5.78 earnings per share for the current year.
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SYK has been the topic of several research analyst reports. Zacks Investment Research cut shares of Stryker Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, September 27th. BMO Capital Markets upgraded shares of Stryker Corp. from an “underperform” rating to a “market perform” rating and set a $125.00 price target on the stock in a research report on Tuesday, November 1st. They noted that the move was a valuation call. Canaccord Genuity set a $127.00 price target on shares of Stryker Corp. and gave the company a “buy” rating in a research report on Sunday, October 30th. Oppenheimer Holdings Inc. set a $122.00 price target on shares of Stryker Corp. and gave the company a “hold” rating in a research report on Sunday, October 30th. Finally, SunTrust Banks Inc. initiated coverage on shares of Stryker Corp. in a research report on Thursday, October 13th. They set a “buy” rating and a $140.00 price target on the stock. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $122.38.
In related news, Director Ronda E. Stryker sold 18,000 shares of Stryker Corp. stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $117.56, for a total value of $2,116,080.00. Following the completion of the sale, the director now directly owns 193,142 shares in the company, valued at approximately $22,705,773.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 12,000 shares of Stryker Corp. stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $112.73, for a total transaction of $1,352,760.00. Following the completion of the sale, the director now owns 193,142 shares of the company’s stock, valued at $21,772,897.66. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by corporate insiders.
Stryker Corp. Company Profile
Stryker Corporation (Stryker) is a medical technology company. The Company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Company’s Orthopaedics segment products consist of implants used in hip and knee joint replacements and trauma and surgeries. The Company’s MedSurg segment products consist of surgical equipment and surgical navigation systems (Instruments); endoscopic and communications systems (Endoscopy); patient handling and emergency medical equipment (Medical), and reprocessed and remanufactured medical devices (Sustainability), as well as other medical device products used in a range of medical specialties.
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