M&T Bank Corp Acquires 168 Shares of Stryker Co. (NYSE:SYK)

M&T Bank Corp boosted its holdings in Stryker Co. (NYSE:SYK) by 0.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 49,597 shares of the medical technology company’s stock after purchasing an additional 168 shares during the quarter. M&T Bank Corp’s holdings in Stryker were worth $14,852,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in SYK. Sage Mountain Advisors LLC grew its holdings in Stryker by 5.5% in the third quarter. Sage Mountain Advisors LLC now owns 1,272 shares of the medical technology company’s stock worth $348,000 after purchasing an additional 66 shares during the period. Everhart Financial Group Inc. increased its position in Stryker by 4.4% in the 3rd quarter. Everhart Financial Group Inc. now owns 2,328 shares of the medical technology company’s stock valued at $636,000 after buying an additional 98 shares in the last quarter. Hixon Zuercher LLC boosted its holdings in Stryker by 2.1% in the third quarter. Hixon Zuercher LLC now owns 22,323 shares of the medical technology company’s stock worth $6,100,000 after acquiring an additional 450 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in Stryker by 5.1% in the third quarter. Lindbrook Capital LLC now owns 1,007 shares of the medical technology company’s stock worth $275,000 after acquiring an additional 49 shares in the last quarter. Finally, Verdence Capital Advisors LLC increased its holdings in shares of Stryker by 9.2% during the third quarter. Verdence Capital Advisors LLC now owns 1,017 shares of the medical technology company’s stock valued at $278,000 after acquiring an additional 86 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Piper Sandler increased their target price on Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday. Wells Fargo & Company boosted their target price on shares of Stryker from $364.00 to $381.00 and gave the stock an “overweight” rating in a research report on Wednesday. Stifel Nicolaus upped their target price on shares of Stryker from $350.00 to $375.00 and gave the stock a “buy” rating in a report on Wednesday. Truist Financial boosted their price objective on Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a report on Wednesday, January 31st. Finally, StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, January 23rd. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $365.94.

Stryker Stock Performance

Stryker stock traded up $1.82 during trading on Friday, hitting $328.45. The stock had a trading volume of 1,589,424 shares, compared to its average volume of 1,415,127. The company has a quick ratio of 0.97, a current ratio of 1.71 and a debt-to-equity ratio of 0.56. The stock’s 50 day moving average is $346.99 and its two-hundred day moving average is $317.29. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $361.41. The stock has a market cap of $125.12 billion, a price-to-earnings ratio of 37.49, a price-to-earnings-growth ratio of 2.56 and a beta of 0.91.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The business had revenue of $5.24 billion for the quarter, compared to analysts’ expectations of $5.10 billion. During the same period in the previous year, the business posted $2.14 EPS. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, analysts predict that Stryker Co. will post 11.94 EPS for the current year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Wednesday, March 27th. Stryker’s payout ratio is 36.53%.

Insider Transactions at Stryker

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the transaction, the chief accounting officer now directly owns 3,675 shares in the company, valued at approximately $1,317,414. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the transaction, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Ronda E. Stryker sold 201,146 shares of Stryker stock in a transaction on Monday, February 5th. The stock was sold at an average price of $342.90, for a total transaction of $68,972,963.40. Following the sale, the director now directly owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The disclosure for this sale can be found here. 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.