M&T Bank Corp Acquires 168 Shares of Stryker Co. (NYSE:SYK)

M&T Bank Corp lifted its holdings in Stryker Co. (NYSE:SYK) by 0.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 49,597 shares of the medical technology company’s stock after acquiring an additional 168 shares during the period. M&T Bank Corp’s holdings in Stryker were worth $14,852,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Bremer Bank National Association raised its holdings in Stryker by 4.0% during the 4th quarter. Bremer Bank National Association now owns 888 shares of the medical technology company’s stock valued at $266,000 after buying an additional 34 shares during the period. Simon Quick Advisors LLC lifted its holdings in shares of Stryker by 3.0% in the 4th quarter. Simon Quick Advisors LLC now owns 1,158 shares of the medical technology company’s stock worth $347,000 after acquiring an additional 34 shares during the last quarter. Consolidated Portfolio Review Corp boosted its stake in shares of Stryker by 3.6% during the 4th quarter. Consolidated Portfolio Review Corp now owns 983 shares of the medical technology company’s stock worth $294,000 after purchasing an additional 34 shares during the period. MBL Wealth LLC raised its position in Stryker by 4.6% in the 4th quarter. MBL Wealth LLC now owns 850 shares of the medical technology company’s stock worth $255,000 after purchasing an additional 37 shares during the period. Finally, Cornerstone Planning Group LLC lifted its stake in Stryker by 30.4% in the third quarter. Cornerstone Planning Group LLC now owns 163 shares of the medical technology company’s stock worth $45,000 after purchasing an additional 38 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 target price on the stock in a research report on Wednesday, January 31st. Wells Fargo & Company increased their price target on Stryker from $364.00 to $381.00 and gave the stock an “overweight” rating in a research report on Wednesday. UBS Group upped their price objective on shares of Stryker from $339.00 to $351.00 and gave the stock a “neutral” rating in a research note on Wednesday. Evercore ISI raised their target price on shares of Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. Finally, Piper Sandler increased their price objective on shares of Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $365.94.

Stryker Stock Performance

SYK traded up $1.82 during trading on Friday, reaching $328.45. 1,589,424 shares of the company’s stock were exchanged, compared to its average volume of 1,415,127. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.71 and a quick ratio of 0.97. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $361.41. The company’s fifty day simple moving average is $346.99 and its 200-day simple moving average is $317.29. The stock has a market capitalization of $125.12 billion, a P/E ratio of 37.49, a price-to-earnings-growth ratio of 2.56 and a beta of 0.91.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The firm had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. During the same quarter last year, the company posted $2.14 earnings per share. The firm’s revenue was up 9.7% compared to the same quarter last year. As a group, research analysts predict that Stryker Co. will post 11.94 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 30th. Stockholders of record on Friday, March 29th were paid a $0.80 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.97%. Stryker’s payout ratio is 36.53%.

Insider Buying and Selling

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the transaction, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at $1,317,414. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Ronda E. Stryker sold 201,146 shares of the company’s stock in a transaction dated Monday, February 5th. The stock was sold at an average price of $342.90, for a total value of $68,972,963.40. Following the completion of the transaction, the director now owns 3,755,128 shares of the company’s stock, valued at approximately $1,287,633,391.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO William E. Berry, Jr. sold 7,690 shares of the stock in a transaction that occurred on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the transaction, the chief accounting officer now owns 3,675 shares in the company, valued at approximately $1,317,414. The disclosure for this sale can be found here. 5.90% of the stock is owned by corporate insiders.

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.