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

Massachusetts Financial Services Co. MA decreased its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 2.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 314,033 shares of the medical technology company's stock after selling 6,409 shares during the period. Massachusetts Financial Services Co. MA owned about 0.08% of Stryker worth $116,899,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Dakota Wealth Management lifted its position in Stryker by 5.7% during the first quarter. Dakota Wealth Management now owns 28,598 shares of the medical technology company's stock valued at $10,650,000 after purchasing an additional 1,533 shares during the period. OVERSEA CHINESE BANKING Corp Ltd raised its position in Stryker by 58.3% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 888 shares of the medical technology company's stock worth $331,000 after acquiring an additional 327 shares during the period. Lokken Investment Group LLC raised its position in Stryker by 3.2% in the first quarter. Lokken Investment Group LLC now owns 3,918 shares of the medical technology company's stock worth $1,459,000 after acquiring an additional 122 shares during the period. Apollon Wealth Management LLC raised its position in Stryker by 181.4% in the first quarter. Apollon Wealth Management LLC now owns 23,447 shares of the medical technology company's stock worth $8,728,000 after acquiring an additional 15,116 shares during the period. Finally, Hohimer Wealth Management LLC bought a new position in Stryker in the first quarter worth approximately $201,000. Institutional investors own 77.09% of the company's stock.

Insider Activity at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the transaction, the director directly owned 3,417,326 shares of the company's stock, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 5.90% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on SYK shares. Evercore ISI increased their price target 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. BTIG Research restated a "buy" rating on shares of Stryker in a research report on Monday. JMP Securities restated a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Citigroup restated a "buy" rating and set a $455.00 price objective (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Finally, Truist Financial raised their price objective on shares of Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a research report on Monday, May 5th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $428.55.

Stryker Price Performance

SYK traded down $0.06 during trading on Friday, hitting $388.84. 1,716,293 shares of the company traded hands, compared to its average volume of 1,354,042. The company has a market cap of $148.42 billion, a PE ratio of 52.55, a P/E/G ratio of 2.95 and a beta of 0.91. The stock's 50-day simple moving average is $385.51 and its two-hundred day simple moving average is $377.73. Stryker Corporation has a 1 year low of $314.93 and a 1 year high of $406.19. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.11. The company had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.68 billion. Stryker had a net margin of 12.31% and a return on equity of 23.74%. Stryker's quarterly revenue was up 11.9% on a year-over-year basis. During the same period last year, the company posted $2.50 earnings per share. As a group, sell-side analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. Stryker's payout ratio is currently 45.41%.

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.