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

Massachusetts Financial Services Co. MA lessened its stake in Stryker Co. (NYSE:SYK) by 5.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 320,442 shares of the medical technology company’s stock after selling 18,026 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Stryker were worth $115,375,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in SYK. Kohmann Bosshard Financial Services LLC bought a new position in Stryker in the fourth quarter valued at $25,000. Dunhill Financial LLC increased its position in shares of Stryker by 94.9% during the 3rd 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. Rakuten Securities Inc. raised its holdings in shares of Stryker by 618.2% during the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock valued at $28,000 after buying an additional 68 shares in the last quarter. Centricity Wealth Management LLC bought a new stake in Stryker in the 4th quarter worth approximately $30,000. Finally, BankPlus Trust Department purchased a new stake in Stryker in the fourth quarter worth approximately $33,000. Institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Truist Financial boosted their price objective on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Wells Fargo & Company upped their price target on shares of Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Argus set a $450.00 price objective on Stryker in a report on Monday, February 3rd. Stifel Nicolaus boosted their target price on Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Finally, Citigroup restated a “buy” rating and set a $450.00 price target on shares of Stryker in a research report on Wednesday, February 26th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $421.90.

Stryker Price Performance

SYK stock opened at $346.14 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. Stryker Co. has a 1 year low of $314.93 and a 1 year high of $406.19. The firm has a 50-day moving average of $381.69 and a 200 day moving average of $374.23. The company has a market cap of $132.12 billion, a P/E ratio of 44.61, a PEG ratio of 2.93 and a beta of 0.95.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the firm posted $3.46 earnings per share. On average, sell-side analysts forecast that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The firm 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 $0.84 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.97%. Stryker’s payout ratio is 43.30%.

Insider Activity at Stryker

In other news, Director Ronda E. Stryker sold 201,392 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the sale, the director now directly owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. The trade was a 5.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the firm’s 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 transaction, the director now directly owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their position. The disclosure for this sale can be found here. 5.50% of the stock is currently owned by corporate insiders.

Stryker 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.