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

Massachusetts Financial Services Co. MA trimmed its holdings in shares of Stryker Co. (NYSE:SYK) by 1.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 338,468 shares of the medical technology company’s stock after selling 6,465 shares during the quarter. Massachusetts Financial Services Co. MA owned 0.09% of Stryker worth $122,275,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Centennial Bank AR raised its holdings in shares of Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after acquiring an additional 48 shares during the period. Darwin Wealth Management LLC bought a new position in Stryker during the 3rd quarter worth about $36,000. HBW Advisory Services LLC acquired a new stake in shares of Stryker in the 3rd quarter valued at about $42,000. Hara Capital LLC bought a new stake in shares of Stryker in the third quarter valued at about $42,000. Finally, Grove Bank & Trust boosted its position in shares of Stryker by 84.8% during the third quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock worth $44,000 after buying an additional 56 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently commented on SYK. Stifel Nicolaus cut their price objective 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. Needham & Company LLC raised their price target on Stryker from $393.00 to $409.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. BTIG Research increased their price objective on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Evercore ISI boosted their target price on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Royal Bank of Canada increased their price target on shares of Stryker from $386.00 to $400.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Stryker presently has an average rating of “Moderate Buy” and a consensus target price of $393.65.

Stryker Stock Down 1.4 %

SYK stock opened at $384.85 on Friday. The business’s fifty day moving average price is $366.20 and its two-hundred day moving average price is $349.48. The stock has a market capitalization of $146.71 billion, a price-to-earnings ratio of 41.25, a PEG ratio of 2.94 and a beta of 0.91. Stryker Co. has a fifty-two week low of $285.79 and a fifty-two week high of $398.20. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22.

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

Insider Buying and Selling

In other news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Viju Menon sold 600 shares of Stryker stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. This represents a 6.21 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,381 shares of company stock worth $24,825,275. Company insiders own 5.90% of the company’s stock.

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.