Meritage Portfolio Management Takes $569,000 Position in Stryker Co. (NYSE:SYK)

Meritage Portfolio Management purchased a new position in shares of Stryker Co. (NYSE:SYK) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 1,900 shares of the medical technology company’s stock, valued at approximately $569,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Farmers & Merchants Trust Co of Chambersburg PA increased its stake in shares of Stryker by 203.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 61 shares during the last quarter. HBC Financial Services PLLC bought a new position in Stryker during the fourth quarter valued at about $37,000. Bourgeon Capital Management LLC acquired a new stake in shares of Stryker in the fourth quarter worth about $37,000. Operose Advisors LLC boosted its stake in shares of Stryker by 308.6% during the 3rd quarter. Operose Advisors LLC now owns 143 shares of the medical technology company’s stock worth $39,000 after acquiring an additional 108 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in shares of Stryker by 97.1% during the 4th quarter. Venturi Wealth Management LLC now owns 136 shares of the medical technology company’s stock valued at $41,000 after acquiring an additional 67 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Price Performance

Shares of Stryker stock traded down $0.87 during trading on Friday, hitting $336.28. 607,323 shares of the company’s stock traded hands, compared to its average volume of 1,278,033. The company has a market cap of $127.94 billion, a PE ratio of 40.96, a PEG ratio of 2.71 and a beta of 0.89. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.58 and a quick ratio of 0.97. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41. The firm’s fifty day moving average price is $349.16 and its 200 day moving average price is $314.40.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 30th. The medical technology company reported $3.46 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.27 by $0.19. The business had revenue of $5.82 billion during the quarter, compared to analysts’ expectations of $5.60 billion. Stryker had a return on equity of 22.99% and a net margin of 15.44%. Stryker’s quarterly revenue was up 11.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.00 EPS. Analysts forecast that Stryker Co. will post 11.86 earnings per share for the current year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be given a $0.80 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $3.20 dividend on an annualized basis and a yield of 0.95%. Stryker’s payout ratio is 38.79%.

Analyst Ratings Changes

SYK has been the topic of several analyst reports. Truist Financial increased their price target on Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a report on Wednesday, January 31st. Wells Fargo & Company boosted their target price on shares of Stryker from $336.00 to $364.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 31st. Evercore ISI raised their price target on Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a research report on Thursday, April 4th. StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, January 23rd. Finally, Roth Mkm raised their target price on Stryker from $345.00 to $348.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $340.67.

Insider Transactions at Stryker

In related news, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction dated Thursday, March 7th. The stock was sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the sale, the chief accounting officer now directly owns 3,675 shares in the company, valued at $1,317,414. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Ronda E. Stryker sold 201,146 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $342.90, for a total value of $68,972,963.40. Following the transaction, the director now directly owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total value of $2,756,711.20. Following the completion of the sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The disclosure for this sale can be found here. Insiders sold a total of 212,109 shares of company stock worth $72,845,768 over the last 90 days. 5.90% of the stock is owned by insiders.

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.