M&T Bank Corp Boosts Holdings in Stryker Co. (NYSE:SYK)

M&T Bank Corp increased its stake in shares of Stryker Co. (NYSE:SYK – Get Rating) by 2.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 51,721 shares of the medical technology company’s stock after buying an additional 1,148 shares during the period. M&T Bank Corp’s holdings in Stryker were worth $10,474,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Hazlett Burt & Watson Inc. purchased a new position in shares of Stryker in the third quarter worth about $41,000. Old North State Trust LLC purchased a new position in shares of Stryker in the third quarter worth about $46,000. Hallmark Capital Management Inc. purchased a new position in shares of Stryker in the third quarter worth about $48,000. Webster Bank N. A. increased its stake in shares of Stryker by 123.2% in the third quarter. Webster Bank N. A. now owns 250 shares of the medical technology company’s stock worth $51,000 after purchasing an additional 138 shares in the last quarter. Finally, Western Pacific Wealth Management LP increased its stake in shares of Stryker by 3,862.5% in the third quarter. Western Pacific Wealth Management LP now owns 317 shares of the medical technology company’s stock worth $64,000 after purchasing an additional 309 shares in the last quarter. Hedge funds and other institutional investors own 77.10% of the company’s stock.

Insider Buying and Selling

In other Stryker news, VP M Kathryn Fink sold 6,571 shares of the business’s stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of $257.69, for a total transaction of $1,693,280.99. Following the transaction, the vice president now directly owns 9,264 shares of the company’s stock, valued at approximately $2,387,240.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Stryker news, insider James Andrew Pierce sold 400 shares of the business’s stock in a transaction on Thursday, February 2nd. The shares were sold at an average price of $277.88, for a total transaction of $111,152.00. Following the transaction, the insider now directly owns 46,676 shares of the company’s stock, valued at approximately $12,970,326.88. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP M Kathryn Fink sold 6,571 shares of the business’s stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of $257.69, for a total transaction of $1,693,280.99. Following the sale, the vice president now owns 9,264 shares in the company, valued at approximately $2,387,240.16. The disclosure for this sale can be found here. Insiders have sold a total of 357,410 shares of company stock valued at $97,831,003 over the last three months. 6.50% of the stock is owned by company insiders.

Analyst Ratings Changes

SYK has been the subject of a number of analyst reports. Evercore ISI raised their price objective on shares of Stryker to $265.00 in a research report on Tuesday, January 3rd. BTIG Research raised their price objective on shares of Stryker from $268.00 to $281.00 and gave the company a “buy” rating in a research report on Wednesday, February 1st. Robert W. Baird raised their price objective on shares of Stryker from $240.00 to $287.00 and gave the company an “outperform” rating in a research report on Wednesday, February 1st. Piper Sandler raised their price objective on shares of Stryker from $250.00 to $280.00 and gave the company an “overweight” rating in a research report on Wednesday, February 1st. Finally, Citigroup lifted their target price on shares of Stryker from $282.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, February 1st. Seven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $272.00.

Stryker Stock Down 1.0 %

Shares of NYSE SYK opened at $273.03 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.63 and a debt-to-equity ratio of 0.71. Stryker Co. has a 52 week low of $188.84 and a 52 week high of $284.00. The firm’s fifty day moving average is $262.91 and its 200 day moving average is $237.57. The company has a market cap of $103.43 billion, a price-to-earnings ratio of 44.25, a PEG ratio of 2.72 and a beta of 0.93.

Stryker (NYSE:SYK – Get Rating) last issued its earnings results on Tuesday, January 31st. The medical technology company reported $3.00 EPS for the quarter, topping the consensus estimate of $2.84 by $0.16. Stryker had a net margin of 12.78% and a return on equity of 22.39%. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $4.97 billion. During the same period in the previous year, the firm earned $2.71 earnings per share. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities research analysts expect that Stryker Co. will post 10.02 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, April 28th. Investors of record on Friday, March 31st will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.10%. The ex-dividend date is Thursday, March 30th. Stryker’s payout ratio is 48.62%.

Stryker Profile

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Stryker Corp. is a medical technology company, which engages in the provision of innovative products and services that help improve patient and healthcare outcomes. It operates under the MedSurg and Neurotechnology, and Orthopaedics and Spine segments. The MedSurg and Neurotechnology segment includes surgical equipment and navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment, intensive care disposable products, clinical communication, workflow solutions, products for the treatment of acute ischemic and hemorrhagic stroke, traditional brain, and open skull based surgical procedures, orthobiologic, and biosurgery.