Amalgamated Bank Sells 791 Shares of Stryker Co. (NYSE:SYK)

Amalgamated Bank trimmed its stake in Stryker Co. (NYSE:SYK) by 1.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 71,092 shares of the medical technology company’s stock after selling 791 shares during the period. Amalgamated Bank’s holdings in Stryker were worth $24,189,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Burkett Financial Services LLC purchased a new stake in Stryker in the fourth quarter valued at about $25,000. Central Pacific Bank Trust Division purchased a new stake in Stryker in the first quarter valued at about $39,000. DSM Capital Partners LLC purchased a new stake in Stryker in the fourth quarter valued at about $34,000. Accent Capital Management LLC purchased a new stake in Stryker in the fourth quarter valued at about $60,000. Finally, Sachetta LLC purchased a new stake in Stryker in the fourth quarter valued at about $62,000. 77.09% of the stock is owned by institutional investors.

Insider Activity

In other news, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the transaction, the vice president now owns 10,042 shares in the company, valued at $3,715,540. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the transaction, the vice president now owns 10,042 shares in the company, valued at $3,715,540. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Viju Menon sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. The disclosure for this sale can be found here. Insiders have sold a total of 220,068 shares of company stock worth $71,811,372 over the last quarter. 5.90% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on SYK shares. Morgan Stanley increased their price target on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. UBS Group increased their price objective on Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Stifel Nicolaus cut their price objective on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. Evercore ISI cut their price objective on Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Finally, Piper Sandler reissued an “overweight” rating and issued a $380.00 price objective on shares of Stryker in a report on Tuesday, September 10th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $378.58.

Stryker Stock Performance

Shares of SYK stock opened at $364.00 on Wednesday. The company has a market capitalization of $138.71 billion, a P/E ratio of 41.55, a P/E/G ratio of 2.87 and a beta of 0.91. The business’s 50 day moving average is $343.60 and its two-hundred day moving average is $342.61. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $374.63.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. The company had revenue of $5.42 billion for the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. Stryker’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.54 earnings per share. Analysts expect that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 annualized dividend and a dividend yield of 0.88%. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Stryker 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.