Amalgamated Bank Boosts Stock Position in Stryker Corporation (NYSE:SYK)

Amalgamated Bank lifted its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 1.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 71,932 shares of the medical technology company's stock after purchasing an additional 824 shares during the period. Amalgamated Bank's holdings in Stryker were worth $26,777,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new stake in shares of Stryker during the fourth quarter worth about $25,000. Capital A Wealth Management LLC purchased a new stake in shares of Stryker during the fourth quarter worth about $26,000. Rakuten Securities Inc. raised its stake in Stryker by 618.2% in the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock worth $28,000 after buying an additional 68 shares in the last quarter. Goodman Advisory Group LLC bought a new position in Stryker in the first quarter worth about $32,000. Finally, City Holding Co. raised its stake in Stryker by 528.6% in the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after buying an additional 74 shares in the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value of $75,392,000.00. Following the sale, the director now owns 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 5.90% of the stock is owned by insiders.

Stryker Price Performance

Shares of SYK opened at $393.70 on Monday. The company has a market capitalization of $150.27 billion, a P/E ratio of 53.20, a price-to-earnings-growth ratio of 2.97 and a beta of 0.91. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. The firm has a 50 day moving average of $379.01 and a 200 day moving average of $375.45. Stryker Corporation has a twelve month low of $314.93 and a twelve month high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.11. The company had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.68 billion. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The firm's quarterly revenue was up 11.9% compared to the same quarter last year. During the same quarter last year, the firm earned $2.50 earnings per share. As a group, equities research analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.85%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's dividend payout ratio (DPR) is currently 45.41%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on SYK shares. Needham & Company LLC reissued a "buy" rating and issued a $442.00 price target on shares of Stryker in a research note on Friday, March 21st. BTIG Research set a $403.00 price target on shares of Stryker and gave the stock a "buy" rating in a research note on Monday, April 14th. The Goldman Sachs Group set a $422.00 price target on shares of Stryker in a research note on Tuesday, March 4th. Citigroup reissued a "buy" rating and issued a $455.00 price target (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Finally, Wall Street Zen downgraded shares of Stryker from a "buy" rating to a "hold" rating in a research note on Friday. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $427.30.

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.

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