Massachusetts Financial Services Co. MA Sells 6,465 Shares of Stryker Co. (NYSE:SYK)

Massachusetts Financial Services Co. MA cut its holdings in shares of Stryker Co. (NYSE:SYK) by 1.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 338,468 shares of the medical technology company’s stock after selling 6,465 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Stryker were worth $122,275,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. LRI Investments LLC bought a new position in Stryker during the 1st quarter worth $107,000. Magnetar Financial LLC acquired a new stake in Stryker during the 1st quarter worth about $773,000. Bamco Inc. NY raised its position in shares of Stryker by 28.6% in the 1st quarter. Bamco Inc. NY now owns 18,000 shares of the medical technology company’s stock worth $6,442,000 after acquiring an additional 4,000 shares in the last quarter. Mount Yale Investment Advisors LLC acquired a new position in shares of Stryker in the 1st quarter valued at about $305,000. Finally, Ascent Group LLC boosted its position in shares of Stryker by 1.9% during the 1st quarter. Ascent Group LLC now owns 3,631 shares of the medical technology company’s stock valued at $1,299,000 after purchasing an additional 69 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the sale, the chief executive officer now directly owns 100,027 shares in the company, valued at $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP M Kathryn Fink sold 7,347 shares of Stryker stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the transaction, the vice president now owns 10,042 shares in the company, valued at approximately $3,685,213.16. This represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 67,381 shares of company stock worth $24,825,275 in the last quarter. 5.90% of the stock is owned by insiders.

Stryker Price Performance

SYK stock opened at $384.85 on Friday. The firm has a 50 day simple moving average of $366.20 and a two-hundred day simple moving average of $349.48. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. The stock has a market cap of $146.71 billion, a PE ratio of 41.25, a P/E/G ratio of 2.94 and a beta of 0.91. Stryker Co. has a one year low of $285.79 and a one year high of $398.20.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business had revenue of $5.49 billion for the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter in the prior year, the firm earned $2.46 earnings per share. The firm’s revenue was up 11.9% on a year-over-year basis. On average, analysts predict that Stryker Co. will post 12.06 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Wells Fargo & Company boosted their price target on Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research report on Friday. Truist Financial raised their price target on shares of Stryker from $370.00 to $380.00 and gave the stock a “hold” rating in a report on Wednesday, October 30th. BTIG Research upped their price objective on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, Stifel Nicolaus reduced their target price on Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $393.65.

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.