M&T Bank Corp Has $20.35 Million Stake in Stryker Corporation (NYSE:SYK)

M&T Bank Corp increased its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,658 shares of the medical technology company's stock after buying 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 Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. Capital A Wealth Management LLC purchased a new stake in shares of Stryker in the fourth quarter valued at approximately $26,000. Rakuten Securities Inc. raised its stake in shares of Stryker by 618.2% in the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock valued at $28,000 after acquiring an additional 68 shares in the last quarter. Goodman Advisory Group LLC acquired a new stake in shares of Stryker in the first quarter valued at $32,000. 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 valued at $33,000 after buying an additional 74 shares in the last quarter. Finally, VSM Wealth Advisory LLC purchased a new position in shares of Stryker during the fourth quarter worth about $36,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on SYK. Roth Mkm raised their price target on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. JMP Securities reissued a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Sanford C. Bernstein set a $450.00 price target on Stryker in a report on Monday, May 5th. Evercore ISI raised their price target on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $442.00 price objective on shares of Stryker in a report on Friday, March 21st. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $428.55.

Stryker Stock Down 1.4%

SYK traded down $5.53 during trading hours on Friday, hitting $389.24. 825,133 shares of the company's stock were exchanged, compared to its average volume of 1,350,503. Stryker Corporation has a 1-year low of $314.93 and a 1-year high of $406.19. The stock's 50-day moving average is $384.57 and its two-hundred day moving average is $376.97. The stock has a market cap of $148.57 billion, a price-to-earnings ratio of 52.60, a PEG ratio of 2.96 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.

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

Stryker Dividend Announcement

The firm 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 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 45.41%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction dated 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 transaction, the director directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 5.90% of the company's stock.

About Stryker

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.