Amalgamated Bank Has $5.51 Million Position in Stryker Corporation (SYK)
Amalgamated Bank lifted its holdings in Stryker Corporation (NYSE:SYK) by 58.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,665 shares of the medical technology company’s stock after purchasing an additional 14,572 shares during the period. Amalgamated Bank’s holdings in Stryker Corporation were worth $5,505,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in SYK. Bollard Group LLC lifted its stake in shares of Stryker Corporation by 0.4% in the 2nd quarter. Bollard Group LLC now owns 832 shares of the medical technology company’s stock valued at $115,000 after purchasing an additional 3 shares during the last quarter. Motco lifted its stake in shares of Stryker Corporation by 50.7% in the 2nd quarter. Motco now owns 826 shares of the medical technology company’s stock valued at $115,000 after purchasing an additional 278 shares during the last quarter. Bruderman Asset Management LLC acquired a new stake in shares of Stryker Corporation in the 2nd quarter valued at $150,000. James Investment Research Inc. acquired a new stake in shares of Stryker Corporation in the 2nd quarter valued at $155,000. Finally, Guardian Life Insurance Co. of America lifted its stake in shares of Stryker Corporation by 0.8% in the 1st quarter. Guardian Life Insurance Co. of America now owns 1,199 shares of the medical technology company’s stock valued at $158,000 after purchasing an additional 9 shares during the last quarter. 74.13% of the stock is owned by institutional investors and hedge funds.
SYK has been the subject of several analyst reports. Morgan Stanley lifted their price objective on shares of Stryker Corporation from $145.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, June 21st. Royal Bank Of Canada reiterated a “buy” rating and issued a $155.00 target price on shares of Stryker Corporation in a report on Friday, September 1st. Argus reiterated a “buy” rating and issued a $160.00 target price on shares of Stryker Corporation in a report on Tuesday, August 29th. Cantor Fitzgerald assumed coverage on shares of Stryker Corporation in a report on Thursday, June 29th. They issued a “neutral” rating and a $153.00 target price on the stock. Finally, BidaskClub downgraded shares of Stryker Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $146.78.
Shares of Stryker Corporation (SYK) opened at 149.00 on Friday. Stryker Corporation has a 1-year low of $106.48 and a 1-year high of $149.23. The company has a market cap of $55.74 billion, a PE ratio of 33.26 and a beta of 0.80. The company has a 50-day moving average of $142.44 and a 200-day moving average of $139.99.
Stryker Corporation (NYSE:SYK) last posted its earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The company had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.98 billion. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. Stryker Corporation’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.39 EPS. Equities analysts forecast that Stryker Corporation will post $6.46 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be paid a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Thursday, September 28th. Stryker Corporation’s dividend payout ratio is presently 37.95%.
In related news, insider Graham A. Mclean sold 1,124 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $146.26, for a total transaction of $164,396.24. Following the transaction, the insider now directly owns 8,983 shares of the company’s stock, valued at $1,313,853.58. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Lonny J. Carpenter sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $146.36, for a total transaction of $731,800.00. Following the transaction, the insider now directly owns 88,207 shares in the company, valued at $12,909,976.52. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 25,429 shares of company stock valued at $3,686,927. 7.40% of the stock is currently owned by corporate insiders.
Stryker Corporation Profile
Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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