M&T Bank Corp Has $19.20 Million Stock Position in Stryker Co. (NYSE:SYK)

M&T Bank Corp boosted its position in shares of Stryker Co. (NYSE:SYK) by 4.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,316 shares of the medical technology company’s stock after purchasing an additional 2,496 shares during the period. M&T Bank Corp’s holdings in Stryker were worth $19,196,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of SYK. Kohmann Bosshard Financial Services LLC acquired a new stake in Stryker during the fourth quarter valued at $25,000. Dunhill Financial LLC boosted its position in Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 37 shares during the last quarter. Centricity Wealth Management LLC acquired a new stake in Stryker during the fourth quarter valued at $30,000. BankPlus Trust Department acquired a new stake in Stryker during the fourth quarter valued at $33,000. Finally, Darwin Wealth Management LLC acquired a new stake in Stryker during the third quarter valued at $36,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Trading Up 1.6 %

Shares of SYK opened at $396.10 on Thursday. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $151.14 billion, a price-to-earnings ratio of 51.04, a P/E/G ratio of 2.93 and a beta of 0.96. The stock’s 50-day moving average price is $381.96 and its 200 day moving average price is $372.45.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter last year, the business earned $3.46 EPS. As a group, research analysts predict that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.85%. Stryker’s dividend payout ratio is 43.30%.

Analyst Upgrades and Downgrades

SYK has been the topic of several recent research reports. Truist Financial raised their target price on Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Citigroup restated a “buy” rating and set a $450.00 target price on shares of Stryker in a report on Wednesday, February 26th. Royal Bank of Canada raised their target price on Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Canaccord Genuity Group raised their target price on Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company raised their target price on Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $422.15.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the sale, the director now directly owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the sale, the director now directly owns 14,895 shares in the company, valued at $5,705,827.65. The trade was a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

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.