Meridiem Investment Management Ltd. Makes New $126,000 Investment in Stryker Co. (NYSE:SYK)

Meridiem Investment Management Ltd. acquired a new stake in shares of Stryker Co. (NYSE:SYK) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 350 shares of the medical technology company’s stock, valued at approximately $126,000.

A number of other large investors have also modified their holdings of the company. Pinnacle Wealth Management Advisory Group LLC raised its position in Stryker by 3.8% in the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 1,421 shares of the medical technology company’s stock worth $512,000 after purchasing an additional 52 shares in the last quarter. J.W. Cole Advisors Inc. raised its holdings in shares of Stryker by 10.0% in the 4th quarter. J.W. Cole Advisors Inc. now owns 4,325 shares of the medical technology company’s stock worth $1,557,000 after buying an additional 393 shares in the last quarter. Blue Zone Wealth Advisors LLC lifted its position in shares of Stryker by 1.2% during the 4th quarter. Blue Zone Wealth Advisors LLC now owns 20,912 shares of the medical technology company’s stock worth $7,529,000 after buying an additional 243 shares during the period. WD Rutherford LLC boosted its stake in Stryker by 1.6% in the 4th quarter. WD Rutherford LLC now owns 10,630 shares of the medical technology company’s stock valued at $3,827,000 after buying an additional 163 shares in the last quarter. Finally, Strategic Financial Concepts LLC bought a new stake in Stryker in the fourth quarter valued at $55,769,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Ronda E. Stryker sold 201,392 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the transaction, the director now owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. The trade was a 5.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 5.90% of the stock is currently owned by company insiders.

Stryker Trading Down 0.9 %

SYK opened at $385.05 on Monday. The firm has a 50 day simple moving average of $377.31 and a 200 day simple moving average of $366.92. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The company has a market cap of $146.79 billion, a price-to-earnings ratio of 49.62, a price-to-earnings-growth ratio of 2.98 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same quarter in the previous year, the business posted $3.46 earnings per share. On average, sell-side analysts anticipate that Stryker Co. will post 13.49 earnings per share for the current year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.84 per share. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a dividend yield of 0.87%. Stryker’s payout ratio is currently 43.30%.

Analyst Ratings Changes

A number of research analysts have issued reports on SYK shares. Wells Fargo & Company lifted their price objective on Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Piper Sandler restated an “overweight” rating and issued a $420.00 price target (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $370.00 to $445.00 in a report on Monday, December 2nd. Royal Bank of Canada increased their price target on Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Finally, StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research report on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $420.68.

Stryker 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.