Stryker Corporation (NYSE:SYK) Shares Purchased by M&T Bank Corp

M&T Bank Corp raised its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 2.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 54,658 shares of the medical technology company's stock after acquiring an additional 1,342 shares during the quarter. M&T Bank Corp's holdings in Stryker were worth $20,346,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Capital A Wealth Management LLC acquired a new stake in shares of Stryker in the 4th quarter valued at about $26,000. Rakuten Securities Inc. boosted its position in shares of Stryker by 618.2% in the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock valued at $28,000 after purchasing an additional 68 shares during the period. Goodman Advisory Group LLC acquired a new stake in shares of Stryker in the 1st quarter valued at about $32,000. City Holding Co. boosted its position in shares of Stryker by 528.6% in the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after purchasing an additional 74 shares during the period. Finally, VSM Wealth Advisory LLC acquired a new stake in shares of Stryker in the 4th quarter valued at about $36,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SYK. BTIG Research set a $403.00 price objective on Stryker and gave the stock a "buy" rating in a research report on Monday, April 14th. Truist Financial increased their price target on shares of Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a report on Monday, May 5th. Wall Street Zen cut shares of Stryker from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Roth Mkm raised their price target on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Finally, JMP Securities reissued a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, Stryker currently has a consensus rating of "Moderate Buy" and a consensus price target of $428.55.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the transaction, the director owned 3,417,326 shares of the company's stock, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 5.90% of the stock is currently owned by corporate insiders.

Stryker Trading Up 0.7%

NYSE:SYK traded up $2.55 on Wednesday, hitting $392.05. 871,885 shares of the stock were exchanged, compared to its average volume of 1,348,615. The stock has a market cap of $149.64 billion, a PE ratio of 52.98, a PEG ratio of 2.96 and a beta of 0.91. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. The stock has a fifty day moving average of $383.81 and a 200-day moving average of $376.67. Stryker Corporation has a fifty-two week low of $314.93 and a fifty-two week high of $406.19.

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

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio is presently 45.41%.

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.