Massmutual Trust Co. FSB ADV Purchases 13,699 Shares of Stryker Co. (SYK)
Massmutual Trust Co. FSB ADV lifted its position in shares of Stryker Co. (NYSE:SYK) by 38.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 49,603 shares of the medical technology company’s stock after buying an additional 13,699 shares during the quarter. Massmutual Trust Co. FSB ADV’s holdings in Stryker were worth $8,813,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently modified their holdings of SYK. MayTech Global Investments LLC grew its holdings in Stryker by 9.5% in the second quarter. MayTech Global Investments LLC now owns 18,487 shares of the medical technology company’s stock valued at $3,122,000 after purchasing an additional 1,604 shares during the period. First Citizens Bank & Trust Co. grew its holdings in Stryker by 318.9% in the third quarter. First Citizens Bank & Trust Co. now owns 6,840 shares of the medical technology company’s stock valued at $1,216,000 after purchasing an additional 5,207 shares during the period. Chartwell Investment Partners LLC purchased a new stake in Stryker in the second quarter valued at approximately $1,409,000. Arrow Financial Corp grew its holdings in Stryker by 3.5% in the third quarter. Arrow Financial Corp now owns 26,549 shares of the medical technology company’s stock valued at $4,716,000 after purchasing an additional 906 shares during the period. Finally, Moody Lynn & Lieberson LLC grew its holdings in Stryker by 50.8% in the third quarter. Moody Lynn & Lieberson LLC now owns 75,135 shares of the medical technology company’s stock valued at $13,350,000 after purchasing an additional 25,316 shares during the period. Institutional investors and hedge funds own 74.87% of the company’s stock.
In other news, VP M Kathryn Fink sold 415 shares of the business’s stock in a transaction on Monday, November 5th. The shares were sold at an average price of $166.56, for a total transaction of $69,122.40. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Glenn S. Boehnlein sold 750 shares of the business’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $178.17, for a total transaction of $133,627.50. Following the transaction, the chief financial officer now directly owns 2,785 shares in the company, valued at $496,203.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,031 shares of company stock worth $6,520,313. Corporate insiders own 7.30% of the company’s stock.
Stryker (NYSE:SYK) last posted its earnings results on Thursday, October 25th. The medical technology company reported $1.69 EPS for the quarter, topping analysts’ consensus estimates of $1.68 by $0.01. Stryker had a net margin of 9.31% and a return on equity of 28.00%. The business had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.26 billion. As a group, equities research analysts anticipate that Stryker Co. will post 7.28 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.13%. Stryker’s payout ratio is currently 28.97%.
A number of equities research analysts recently issued reports on the stock. Citigroup boosted their target price on shares of Stryker from $173.00 to $174.00 and gave the company a “neutral” rating in a report on Thursday, November 15th. Canaccord Genuity reiterated a “buy” rating and set a $185.00 price objective on shares of Stryker in a research note on Wednesday, July 25th. Zacks Investment Research upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $180.00 price objective for the company in a research note on Tuesday, October 30th. Oppenheimer set a $170.00 price objective on shares of Stryker and gave the stock a “hold” rating in a research note on Friday, November 9th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Stryker in a research note on Friday, November 9th. Seven equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $181.86.
Stryker Company Profile
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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