Massmutual Trust Co. FSB ADV Boosts Stock Position in Stryker Co. (NYSE:SYK)

Massmutual Trust Co. FSB ADV increased its stake in shares of Stryker Co. (NYSE:SYK) by 4.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 69,157 shares of the medical technology company’s stock after purchasing an additional 2,952 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Stryker were worth $24,984,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYK. Harbor Investment Advisory LLC grew its stake in shares of Stryker by 0.4% in the first quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock worth $2,499,000 after purchasing an additional 31 shares in the last quarter. Aspen Investment Management Inc grew its stake in shares of Stryker by 0.7% in the first quarter. Aspen Investment Management Inc now owns 4,368 shares of the medical technology company’s stock worth $1,563,000 after purchasing an additional 31 shares in the last quarter. Proficio Capital Partners LLC grew its stake in shares of Stryker by 2.4% in the first quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock worth $507,000 after purchasing an additional 33 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of Stryker by 4.0% in the second quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock worth $294,000 after purchasing an additional 33 shares in the last quarter. Finally, Stanley Laman Group Ltd. grew its stake in shares of Stryker by 4.6% in the second quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock worth $256,000 after purchasing an additional 33 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Down 0.6 %

Shares of Stryker stock opened at $355.11 on Thursday. The stock has a 50-day moving average price of $348.90 and a 200 day moving average price of $343.12. The company has a market cap of $135.28 billion, a P/E ratio of 40.54, a P/E/G ratio of 2.78 and a beta of 0.91. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $374.63.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.02. The firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the business earned $2.54 EPS. As a group, analysts expect that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.90%. The ex-dividend date is Monday, September 30th. Stryker’s payout ratio is currently 36.53%.

Analyst Ratings Changes

SYK has been the subject of several research analyst reports. Royal Bank of Canada restated an “outperform” rating and issued a $386.00 price objective on shares of Stryker in a report on Wednesday, July 31st. Morgan Stanley upped their price objective on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. BTIG Research upped their price objective on Stryker from $360.00 to $374.00 and gave the company a “buy” rating in a report on Wednesday, August 28th. Truist Financial cut their price objective on Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a report on Thursday, August 1st. Finally, Stifel Nicolaus cut their price objective on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and an average target price of $379.37.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the transaction, the chief financial officer now directly owns 2,852 shares in the company, valued at $949,716. The disclosure for this sale can be found here. Insiders have sold a total of 220,068 shares of company stock valued at $71,811,372 in the last three months. Insiders own 5.90% of the company’s stock.

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.