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

Massmutual Trust Co. FSB ADV raised its holdings in shares of Stryker Co. (NYSE:SYK) by 4.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 69,157 shares of the medical technology company’s stock after buying 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 SEC filing.

A number of other large investors have also modified their holdings of SYK. Centennial Bank AR grew its holdings in shares of Stryker by 106.7% in the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after purchasing an additional 48 shares during the period. Central Pacific Bank Trust Division purchased a new stake in shares of Stryker in the first quarter valued at about $39,000. Accent Capital Management LLC acquired a new position in Stryker in the fourth quarter valued at about $60,000. Sachetta LLC lifted its position in Stryker by 16.3% in the second quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock valued at $80,000 after buying an additional 34 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its position in Stryker by 17.9% in the first quarter. Hazlett Burt & Watson Inc. now owns 264 shares of the medical technology company’s stock valued at $94,000 after buying an additional 40 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on SYK. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $386.00 target price on shares of Stryker in a research report on Wednesday, July 31st. Needham & Company LLC increased their price target on shares of Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Stifel Nicolaus reduced their price target on shares of Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Evercore ISI raised their target price on shares of Stryker from $365.00 to $380.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $380.00 target price on shares of Stryker in a report on Tuesday, September 10th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $379.37.

Stryker Stock Performance

Shares of SYK opened at $355.11 on Thursday. 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 cap of $135.28 billion, a PE ratio of 40.54, a price-to-earnings-growth ratio of 2.78 and a beta of 0.91. The company’s 50 day simple moving average is $348.90 and its 200-day simple moving average is $343.12. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $374.63.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share 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 firm had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same period last year, the company earned $2.54 earnings per share. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. As a group, equities analysts predict that Stryker Co. will post 12 EPS for the current year.

Stryker Announces Dividend

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

Insider Buying and Selling at Stryker

In other Stryker news, VP M Kathryn Fink sold 2,121 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at $3,715,540. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction on Friday, September 13th. The stock was sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Viju Menon sold 600 shares of Stryker stock in a transaction 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 transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The disclosure for this sale can be found here. Over the last quarter, insiders sold 220,068 shares of company stock valued at $71,811,372. 5.90% of the stock is owned by company insiders.

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.