Stryker Corporation $SYK Shares Sold by Massachusetts Financial Services Co. MA

Key Points

• Massachusetts Financial Services cut its stake in Stryker by 7.7% in Q4, selling 20,481 shares and now holding 246,559 shares (about 0.06% of the company) worth roughly $86.66 million.
• Director Ronda E. Stryker sold 250,000 shares on Feb. 4 at an average price of $362.92 for about $90.73 million, a 9.23% reduction in her position; insiders own about 4.6% of the stock.
• Stryker beat Q4 expectations with $4.47 EPS (vs. $4.40) and $7.17 billion revenue (+11.4% YoY), pays a quarterly dividend of $0.88 (1.0% yield), and holds a consensus analyst rating of Moderate Buy with an average target of $422.53.

Massachusetts Financial Services Co. MA cut its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 7.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 246,559 shares of the medical technology company's stock after selling 20,481 shares during the period. Massachusetts Financial Services Co. MA owned 0.06% of Stryker worth $86,658,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in SYK. Clayton Financial Group LLC acquired a new position in shares of Stryker during the third quarter worth $26,000. United Financial Planning Group LLC acquired a new position in shares of Stryker during the third quarter worth $27,000. Strive Asset Management LLC acquired a new position in shares of Stryker during the third quarter worth $30,000. ANTIPODES PARTNERS Ltd acquired a new position in shares of Stryker during the third quarter worth $34,000. Finally, Copia Wealth Management increased its position in shares of Stryker by 181.6% during the third quarter. Copia Wealth Management now owns 107 shares of the medical technology company's stock worth $40,000 after purchasing an additional 69 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Stock Up 2.4%

NYSE:SYK opened at $347.28 on Tuesday. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66. Stryker Corporation has a twelve month low of $319.32 and a twelve month high of $404.87. The company's 50 day moving average is $354.45 and its two-hundred day moving average is $360.24. The company has a market cap of $133.00 billion, a PE ratio of 41.34, a P/E/G ratio of 1.98 and a beta of 0.92.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, beating the consensus estimate of $4.40 by $0.07. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The business had revenue of $7.17 billion during the quarter, compared to analysts' expectations of $7.12 billion. During the same period in the previous year, the business posted $4.01 EPS. The business's quarterly revenue was up 11.4% compared to the same quarter last year. Analysts anticipate 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 Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Stryker's payout ratio is presently 41.90%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of Stryker stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the completion of the sale, the director directly owned 2,457,331 shares in the company, valued at approximately $891,814,566.52. The trade was a 9.23% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 4.60% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on SYK. Truist Financial dropped their target price on shares of Stryker from $400.00 to $392.00 and set a "hold" rating on the stock in a research report on Thursday, December 18th. BTIG Research boosted their target price on shares of Stryker from $410.00 to $412.00 and gave the stock a "buy" rating in a research report on Friday, January 30th. Evercore set a $390.00 target price on shares of Stryker in a research report on Monday, January 5th. Jefferies Financial Group reissued a "buy" rating and set a $465.00 target price on shares of Stryker in a research report on Wednesday, March 4th. Finally, William Blair reissued an "outperform" rating on shares of Stryker in a research report on Thursday, March 5th. Fifteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $422.53.

Stryker Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons' offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.

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