Amalgamated Bank Reduces Stake in Stryker Co. (SYK)

Amalgamated Bank lowered its position in shares of Stryker Co. (NYSE:SYK) by 3.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 51,251 shares of the medical technology company’s stock after selling 1,756 shares during the quarter. Amalgamated Bank’s holdings in Stryker were worth $9,106,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Patten Group Inc. lifted its holdings in shares of Stryker by 147.5% during the third quarter. Patten Group Inc. now owns 2,378 shares of the medical technology company’s stock worth $423,000 after buying an additional 1,417 shares in the last quarter. CapWealth Advisors LLC lifted its holdings in shares of Stryker by 2.8% during the third quarter. CapWealth Advisors LLC now owns 41,903 shares of the medical technology company’s stock worth $7,445,000 after buying an additional 1,150 shares in the last quarter. First Republic Investment Management Inc. increased its position in shares of Stryker by 2.2% in the third quarter. First Republic Investment Management Inc. now owns 90,625 shares of the medical technology company’s stock worth $16,102,000 after purchasing an additional 1,970 shares during the period. Wedbush Securities Inc. increased its position in shares of Stryker by 13.8% in the third quarter. Wedbush Securities Inc. now owns 4,427 shares of the medical technology company’s stock worth $787,000 after purchasing an additional 536 shares during the period. Finally, Renaissance Technologies LLC bought a new position in shares of Stryker in the third quarter worth $26,368,000. 74.72% of the stock is owned by institutional investors.

In other Stryker news, VP M Kathryn Fink sold 415 shares of Stryker stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $166.56, for a total value of $69,122.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Glenn S. Boehnlein sold 750 shares of Stryker stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $178.17, for a total value of $133,627.50. Following the completion of the transaction, the chief financial officer now owns 2,785 shares in the company, valued at approximately $496,203.45. The disclosure for this sale can be found here. Insiders own 7.40% of the company’s stock.

Stryker stock opened at $168.85 on Friday. Stryker Co. has a 12-month low of $146.80 and a 12-month high of $179.84. The company has a current ratio of 1.91, a quick ratio of 1.21 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $64.45 billion, a price-to-earnings ratio of 26.02, a price-to-earnings-growth ratio of 2.36 and a beta of 0.66.

Stryker (NYSE:SYK) last released its earnings results on Thursday, October 25th. The medical technology company reported $1.69 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.68 by $0.01. Stryker had a return on equity of 28.00% and a net margin of 9.31%. The firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.26 billion. As a group, equities analysts anticipate that Stryker Co. will post 7.28 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 31st. Shareholders of record on Monday, December 31st will be given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date of this dividend is Friday, December 28th. This is a boost from Stryker’s previous quarterly dividend of $0.47. Stryker’s payout ratio is currently 28.97%.

A number of research analysts recently commented on SYK shares. Barclays started coverage on Stryker in a research report on Monday, October 15th. They issued an “overweight” rating and a $198.00 price target on the stock. JPMorgan Chase & Co. raised their price target on Stryker to $200.00 and gave the stock an “overweight” rating in a research report on Thursday, September 13th. Cowen set a $195.00 price target on Stryker and gave the stock a “buy” rating in a research report on Friday, November 9th. Needham & Company LLC restated a “hold” rating on shares of Stryker in a research report on Friday, November 9th. Finally, BTIG Research restated a “buy” rating and issued a $187.00 price target on shares of Stryker in a research report on Wednesday, September 12th. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $182.45.

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Stryker 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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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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