Massachusetts Financial Services Co. MA Has $326.17 Million Holdings in Stryker Co. (NYSE:SYK)

Massachusetts Financial Services Co. MA cut its position in Stryker Co. (NYSE:SYKFree Report) by 12.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,193,573 shares of the medical technology company’s stock after selling 166,374 shares during the period. Massachusetts Financial Services Co. MA owned about 0.31% of Stryker worth $326,168,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of SYK. Fairfield Bush & CO. acquired a new stake in Stryker in the first quarter worth $131,000. Dimensional Fund Advisors LP increased its position in shares of Stryker by 1.4% during the first quarter. Dimensional Fund Advisors LP now owns 673,924 shares of the medical technology company’s stock worth $180,182,000 after acquiring an additional 9,026 shares in the last quarter. Prudential PLC bought a new position in Stryker in the first quarter valued at $1,444,000. Sequoia Financial Advisors LLC grew its position in Stryker by 21.6% in the first quarter. Sequoia Financial Advisors LLC now owns 3,056 shares of the medical technology company’s stock valued at $817,000 after purchasing an additional 543 shares in the last quarter. Finally, Zions Bancorporation N.A. grew its position in Stryker by 9.2% in the first quarter. Zions Bancorporation N.A. now owns 3,140 shares of the medical technology company’s stock valued at $839,000 after purchasing an additional 265 shares in the last quarter. 76.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Srikant M. Datar sold 750 shares of Stryker stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $287.57, for a total transaction of $215,677.50. Following the sale, the director now directly owns 5,316 shares of the company’s stock, valued at approximately $1,528,722.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Stryker news, Director Srikant M. Datar sold 500 shares of the business’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $291.92, for a total transaction of $145,960.00. Following the sale, the director now directly owns 4,316 shares of the company’s stock, valued at approximately $1,259,926.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Srikant M. Datar sold 750 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $287.57, for a total transaction of $215,677.50. Following the sale, the director now directly owns 5,316 shares in the company, valued at $1,528,722.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,306 shares of company stock worth $16,791,134. 5.90% of the stock is currently owned by corporate insiders.

Stryker Price Performance

Shares of NYSE:SYK opened at $342.91 on Tuesday. The firm has a 50 day moving average of $303.93 and a 200-day moving average of $288.00. The stock has a market capitalization of $130.27 billion, a PE ratio of 41.56, a PEG ratio of 2.78 and a beta of 0.90. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $346.59.

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

Stryker Increases Dividend

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Morgan Stanley raised their target price on shares of Stryker from $300.00 to $320.00 and gave the company an “equal weight” rating in a research report on Monday, December 4th. Truist Financial lifted their price objective on shares of Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a research report on Wednesday, January 31st. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Roth Mkm lifted their price objective on shares of Stryker from $345.00 to $348.00 and gave the company a “buy” rating in a research 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 research note on Thursday, November 9th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and an average price target of $331.52.

Check Out Our Latest Research Report 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.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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