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

Amalgamated Bank lowered its position in shares of Stryker Corporation (NYSE:SYK) by 2.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 70,184 shares of the medical technology company’s stock after selling 1,748 shares during the period. Amalgamated Bank’s holdings in Stryker were worth $27,767,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Mid American Wealth Advisory Group Inc. bought a new stake in Stryker during the second quarter worth about $26,000. Sachetta LLC lifted 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 valued at $29,000 after acquiring an additional 27 shares during the last quarter. Ridgewood Investments LLC lifted 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 valued at $36,000 after acquiring an additional 30 shares during the last quarter. Ransom Advisory Ltd bought a new stake in shares of Stryker in the 1st quarter valued at about $37,000. Finally, Smallwood Wealth Investment Management LLC bought a new stake in shares of Stryker in the 1st quarter valued at about $40,000. Institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on SYK shares. Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Rothschild & Co Redburn started coverage on Stryker in a report on Thursday, September 18th. They set a “neutral” rating and a $420.00 price target on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Stryker in a report on Wednesday, October 8th. Needham & Company LLC boosted their price target on Stryker from $442.00 to $448.00 and gave the company a “buy” rating in a report on Friday, August 1st. Finally, BTIG Research boosted their price target on Stryker from $407.00 to $408.00 and gave the company a “buy” rating in a report on Monday, October 13th. Thirteen equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and an average price target of $434.32.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the company’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $1,212,962,556.60. This represents a 5.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Viju Menon sold 500 shares of the company’s stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $390.61, for a total value of $195,305.00. Following the completion of the transaction, the insider directly owned 12,511 shares in the company, valued at $4,886,921.71. This trade represents a 3.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Stryker stock opened at $369.17 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $141.14 billion, a P/E ratio of 48.90, a PEG ratio of 2.71 and a beta of 0.94. The stock’s 50 day moving average is $379.14 and its 200 day moving average is $380.62. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19.

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

Stryker Dividend Announcement

The business also recently declared 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 is Tuesday, September 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. Stryker’s dividend payout ratio is presently 44.50%.

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.