Massachusetts Financial Services Co. MA Sells 409,393 Shares of Stryker Co. (NYSE:SYK)

Massachusetts Financial Services Co. MA trimmed its holdings in shares of Stryker Co. (NYSE:SYK) by 54.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 344,933 shares of the medical technology company’s stock after selling 409,393 shares during the period. Massachusetts Financial Services Co. MA owned about 0.09% of Stryker worth $117,363,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in SYK. Global Assets Advisory LLC bought a new stake in shares of Stryker during the 1st quarter worth $341,049,000. JPMorgan Chase & Co. raised its stake in shares of Stryker by 10.4% during the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock worth $3,096,078,000 after purchasing an additional 813,311 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Stryker by 5.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock worth $3,755,782,000 after purchasing an additional 642,178 shares during the period. 1832 Asset Management L.P. raised its stake in shares of Stryker by 146.9% during the 1st quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock worth $314,449,000 after purchasing an additional 522,817 shares during the period. Finally, American Century Companies Inc. raised its stake in shares of Stryker by 287.6% during the 2nd quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock worth $172,033,000 after purchasing an additional 375,166 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Down 0.7 %

Shares of NYSE SYK opened at $361.29 on Thursday. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $374.63. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $137.68 billion, a price-to-earnings ratio of 41.24, a PEG ratio of 2.87 and a beta of 0.91. The business has a 50-day moving average of $344.08 and a 200-day moving average of $342.74.

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

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s payout ratio is 36.53%.

Insider Buying and Selling

In related news, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now owns 10,042 shares in the company, valued at approximately $3,715,540. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Viju Menon sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. The disclosure for this sale can be found here. Insiders sold 220,068 shares of company stock worth $71,811,372 in the last quarter. 5.90% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and issued a $386.00 price objective on shares of Stryker in a research note on Wednesday, July 31st. Wolfe Research assumed coverage on Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price objective on the stock. UBS Group boosted their price objective on Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Needham & Company LLC boosted their price objective on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, The Goldman Sachs Group assumed coverage on Stryker in a research note on Thursday, May 30th. They issued a “neutral” rating and a $372.00 price objective on the stock. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $378.58.

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.