MassMutual Private Wealth & Trust FSB Increases Stock Position in Stryker Corporation $SYK

MassMutual Private Wealth & Trust FSB raised its stake in shares of Stryker Corporation (NYSE:SYK) by 6.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 72,875 shares of the medical technology company’s stock after acquiring an additional 4,313 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Stryker were worth $26,940,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in SYK. Mid American Wealth Advisory Group Inc. acquired a new stake in Stryker in the 2nd quarter valued at approximately $26,000. Clayton Financial Group LLC acquired a new position in Stryker during the third quarter worth $26,000. Elevation Point Wealth Partners LLC purchased a new position in shares of Stryker during the second quarter worth $28,000. Sachetta LLC grew its stake in shares of Stryker by 58.7% in the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after buying an additional 27 shares in the last quarter. Finally, Kilter Group LLC purchased a new stake in shares of Stryker in the 2nd quarter valued at $29,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SYK. Truist Financial lowered their target price on Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a report on Thursday, December 18th. UBS Group set a $408.00 price target on shares of Stryker in a research report on Monday, October 13th. Wells Fargo & Company raised their price objective on shares of Stryker from $452.00 to $456.00 and gave the company an “overweight” rating in a research note on Friday, November 14th. BTIG Research reaffirmed a “buy” rating and set a $410.00 target price on shares of Stryker in a research note on Friday, November 14th. Finally, Evercore ISI set a $390.00 price target on shares of Stryker in a research report on Monday. Fourteen research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $430.40.

Stryker Price Performance

Shares of SYK opened at $366.46 on Wednesday. The firm has a market capitalization of $140.14 billion, a price-to-earnings ratio of 48.16, a PEG ratio of 2.23 and a beta of 0.89. The firm’s fifty day simple moving average is $359.75 and its 200-day simple moving average is $375.35. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19. The company has a current ratio of 1.85, a quick ratio of 1.13 and a debt-to-equity ratio of 0.68.

Stryker (NYSE:SYK) last posted its earnings results on Friday, October 31st. The medical technology company reported $3.19 EPS for the quarter, beating the consensus estimate of $3.13 by $0.06. The firm had revenue of $6.06 billion for the quarter, compared to analyst estimates of $6.04 billion. Stryker had a return on equity of 24.07% and a net margin of 12.07%.Stryker’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.87 earnings per share. Equities analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be paid a $0.88 dividend. This is an increase from Stryker’s previous quarterly dividend of $0.84. This represents a $3.52 annualized dividend and a yield of 1.0%. The ex-dividend date is Wednesday, December 31st. Stryker’s payout ratio is currently 46.25%.

Insiders Place Their Bets

In related news, CFO Preston Wendell Wells sold 165 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $365.88, for a total value of $60,370.20. Following the completion of the sale, the chief financial officer directly owned 6,694 shares of the company’s stock, valued at $2,449,200.72. The trade was a 2.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO William E. Berry, Jr. sold 1,953 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $365.49, for a total value of $713,801.97. Following the transaction, the chief accounting officer directly owned 2,833 shares in the company, valued at approximately $1,035,433.17. The trade was a 40.81% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 522,118 shares of company stock valued at $185,381,932. 5.20% of the stock is owned by corporate insiders.

Stryker Company Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.