Massachusetts Financial Services Co. MA Lowers Stock Position in Stryker Co. (NYSE:SYK)

Massachusetts Financial Services Co. MA reduced its stake in Stryker Co. (NYSE:SYKFree Report) by 12.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,193,573 shares of the medical technology company’s stock after selling 166,374 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.31% of Stryker worth $326,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. BlackRock Inc. raised its stake in Stryker by 4.8% in the second quarter. BlackRock Inc. now owns 25,862,485 shares of the medical technology company’s stock valued at $7,890,386,000 after purchasing an additional 1,188,957 shares in the last quarter. State Street Corp raised its stake in Stryker by 2.4% in the second quarter. State Street Corp now owns 14,393,817 shares of the medical technology company’s stock valued at $4,402,083,000 after purchasing an additional 340,114 shares in the last quarter. Geode Capital Management LLC raised its stake in Stryker by 3.0% in the second quarter. Geode Capital Management LLC now owns 6,135,106 shares of the medical technology company’s stock valued at $1,865,989,000 after purchasing an additional 181,068 shares in the last quarter. Morgan Stanley raised its stake in Stryker by 21.7% in the fourth quarter. Morgan Stanley now owns 5,978,782 shares of the medical technology company’s stock valued at $1,461,753,000 after purchasing an additional 1,066,751 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of Stryker by 0.5% during the second quarter. Franklin Resources Inc. now owns 4,656,405 shares of the medical technology company’s stock worth $1,420,623,000 after acquiring an additional 25,131 shares in the last quarter. 76.24% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Stryker

In related news, CEO Kevin Lobo sold 56,483 shares of Stryker stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $287.91, for a total value of $16,262,020.53. Following the completion of the sale, the chief executive officer now directly owns 81,034 shares in the company, valued at $23,330,498.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Srikant M. Datar sold 500 shares of the company’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $291.92, for a total transaction of $145,960.00. Following the transaction, the director now owns 4,316 shares in the company, valued at $1,259,926.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Kevin Lobo sold 56,483 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $287.91, for a total transaction of $16,262,020.53. Following the transaction, the chief executive officer now owns 81,034 shares in the company, valued at approximately $23,330,498.94. The disclosure for this sale can be found here. Insiders sold 58,306 shares of company stock worth $16,791,134 over the last three months. 5.90% of the stock is owned by corporate insiders.

Stryker Stock Up 0.3 %

Shares of SYK opened at $342.91 on Tuesday. The firm has a market capitalization of $130.27 billion, a P/E ratio of 41.56, a P/E/G ratio of 2.78 and a beta of 0.90. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $346.59. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. The firm has a fifty day moving average price of $303.93 and a 200-day moving average price of $288.00.

Stryker (NYSE:SYKGet Free Report) last issued its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.27 by $0.19. The firm had revenue of $5.82 billion during the quarter, compared to analyst estimates of $5.60 billion. Stryker had a net margin of 15.44% and a return on equity of 22.99%. The business’s revenue was up 11.8% on a year-over-year basis. During the same period in the previous year, the firm earned $3.00 earnings per share. Equities research analysts expect that Stryker Co. will post 11.87 earnings per share for the current year.

Stryker Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 31st. Investors of record on Friday, December 29th were issued a $0.80 dividend. This is an increase from Stryker’s previous quarterly dividend of $0.75. This represents a $3.20 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Thursday, December 28th. Stryker’s payout ratio is presently 38.79%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SYK shares. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 price target on the stock in a research note on Wednesday, January 31st. Truist Financial raised their target price on shares of Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a report on Wednesday, January 31st. Citigroup raised their target price on shares of Stryker from $340.00 to $362.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Finally, UBS Group raised their target price on shares of Stryker from $289.00 to $297.00 and gave the stock a “neutral” rating in a report on Thursday, November 9th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and a consensus target price of $331.52.

Read Our Latest Analysis on SYK

Stryker Profile

(Free Report)

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 hip and knee joint replacements, and trauma and extremities surgeries. This segment also offers spinal implant products comprising cervical, thoracolumbar, and interbody systems that are used in spinal injury, deformity, and degenerative therapies.

Further Reading

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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