MassMutual Private Wealth & Trust FSB Reduces Stock Holdings in Stryker Corporation $SYK

Key Points

• MassMutual Private Wealth & Trust FSB decreased its holdings in Stryker Corporation by 1.1%, now owning 68,562 shares valued at approximately $27.1 million.
• Stryker announced a quarterly dividend of $0.84 to be paid on October 31st, with a dividend yield of 0.9% and a payout ratio of 44.5%.
• Several analysts have upgraded their ratings on Stryker, with an average price target of $431.42 and a majority rating the stock as a "Moderate Buy".

MassMutual Private Wealth & Trust FSB reduced its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 1.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 68,562 shares of the medical technology company's stock after selling 732 shares during the period. MassMutual Private Wealth & Trust FSB's holdings in Stryker were worth $27,125,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in SYK. Brighton Jones LLC boosted its holdings in shares of Stryker by 15.4% in the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock valued at $1,643,000 after acquiring an additional 609 shares during the last quarter. Snowden Capital Advisors LLC lifted its stake in shares of Stryker by 6.4% in the 4th quarter. Snowden Capital Advisors LLC now owns 3,428 shares of the medical technology company's stock valued at $1,237,000 after purchasing an additional 207 shares during the period. Tema Etfs LLC acquired a new position in Stryker during the fourth quarter worth $287,000. Tidal Investments LLC raised its position in Stryker by 23.3% during the fourth quarter. Tidal Investments LLC now owns 21,551 shares of the medical technology company's stock worth $7,759,000 after acquiring an additional 4,073 shares during the period. Finally, Twinbeech Capital LP acquired a new position in Stryker during the fourth quarter worth $28,057,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Trading Down 1.5%

Shares of SYK stock opened at $377.49 on Tuesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06. The firm has a market cap of $144.32 billion, a PE ratio of 50.00, a price-to-earnings-growth ratio of 2.76 and a beta of 0.93. The company has a 50-day moving average of $388.68 and a two-hundred day moving average of $379.44. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last announced its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, topping the consensus estimate of $3.07 by $0.06. The company had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. Stryker's revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, analysts predict that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. Stryker's dividend payout ratio (DPR) is presently 44.50%.

Insider Activity at Stryker

In other news, insider Viju Menon sold 500 shares of the firm's stock in a transaction that occurred on Monday, August 25th. The shares were sold at an average price of $390.61, for a total value of $195,305.00. Following the completion of the transaction, the insider owned 12,511 shares of the company's stock, valued at approximately $4,886,921.71. This trade represents a 3.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the completion of the transaction, the director directly owned 3,222,108 shares of the company's stock, valued at approximately $1,212,962,556.60. The trade was a 5.84% decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.20% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on SYK shares. Wall Street Zen upgraded shares of Stryker from a "hold" rating to a "buy" rating in a research report on Friday, July 18th. Evercore ISI upped their price objective on shares of Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Wells Fargo & Company upped their price objective on shares of Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Citigroup reiterated a "buy" rating and issued a $455.00 target price (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Finally, Truist Financial set a $415.00 target price on shares of Stryker and gave the company a "hold" rating in a research report on Monday, August 4th. Fourteen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Stryker presently has an average rating of "Moderate Buy" and an average price target of $431.42.

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.

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