MassMutual Private Wealth & Trust FSB Has $24.35 Million Stock Position in Stryker Co. (NYSE:SYK)

MassMutual Private Wealth & Trust FSB cut its holdings in Stryker Co. (NYSE:SYK) by 2.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 67,641 shares of the medical technology company’s stock after selling 1,516 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Stryker were worth $24,354,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Dunhill Financial LLC lifted its position in Stryker by 94.9% during the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after buying an additional 37 shares in the last quarter. Centennial Bank AR grew its stake in 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 in the last quarter. Darwin Wealth Management LLC acquired a new position in shares of Stryker during the 3rd quarter worth approximately $36,000. HBW Advisory Services LLC bought a new stake in shares of Stryker during the 3rd quarter worth approximately $42,000. Finally, Hara Capital LLC acquired a new stake in shares of Stryker in the 3rd quarter valued at approximately $42,000. Institutional investors own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $442.00 price target on shares of Stryker in a research report on Tuesday, January 7th. JPMorgan Chase & Co. upped their target price on shares of Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Wells Fargo & Company lifted their price target on Stryker from $405.00 to $427.00 and gave the stock an “overweight” rating in a report on Wednesday, December 11th. Truist Financial upped their price objective on Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a research note on Wednesday, December 18th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $425.00 target price on shares of Stryker in a research note on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $405.80.

Stryker Stock Performance

Shares of SYK stock opened at $383.91 on Monday. The business’s 50-day moving average price is $375.51 and its 200-day moving average price is $358.98. Stryker Co. has a 12 month low of $307.23 and a 12 month high of $398.20. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The firm has a market capitalization of $146.35 billion, a price-to-earnings ratio of 41.15, a PEG ratio of 2.51 and a beta of 0.95.

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

Stryker Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.84 dividend. This is a positive change from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker’s payout ratio is currently 36.01%.

Insider Activity at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at $36,879,954.90. The trade was a 36.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.50% of the stock is currently 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.