Meridian Wealth Management LLC Makes New $665,000 Investment in Stryker Co. (NYSE:SYK)

Meridian Wealth Management LLC bought a new stake in Stryker Co. (NYSE:SYK) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 1,841 shares of the medical technology company’s stock, valued at approximately $665,000.

Several other large investors have also modified their holdings of SYK. Parnassus Investments LLC acquired a new position in shares of Stryker in the 3rd quarter valued at $762,798,000. International Assets Investment Management LLC boosted its stake in Stryker by 66,967.5% during the 3rd quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock worth $308,433,000 after purchasing an additional 852,496 shares during the period. American Century Companies Inc. boosted its stake in Stryker by 287.6% during the 2nd quarter. American Century Companies Inc. now owns 505,608 shares of the medical technology company’s stock worth $172,033,000 after purchasing an additional 375,166 shares during the period. Canada Pension Plan Investment Board boosted its stake in Stryker by 49.8% during the 2nd quarter. Canada Pension Plan Investment Board now owns 686,416 shares of the medical technology company’s stock worth $233,553,000 after purchasing an additional 228,139 shares during the period. Finally, Sofinnova Investments Inc. acquired a new stake in Stryker during the 2nd quarter worth $65,697,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Trading Down 1.4 %

Shares of SYK stock opened at $384.85 on Monday. The stock has a market cap of $146.71 billion, a price-to-earnings ratio of 41.25, a price-to-earnings-growth ratio of 2.90 and a beta of 0.91. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. Stryker Co. has a fifty-two week low of $285.79 and a fifty-two week high of $398.20. The firm’s 50 day moving average price is $366.20 and its two-hundred day moving average price is $349.63.

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

Analyst Ratings Changes

A number of analysts recently weighed in on SYK shares. StockNews.com cut shares of Stryker from a “buy” rating to a “hold” rating in a research note on Friday. Needham & Company LLC increased their price target on shares of Stryker from $393.00 to $409.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. BTIG Research increased their price target on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Wolfe Research assumed coverage on shares of Stryker in a research note on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 target price for the company. Finally, Piper Sandler restated an “overweight” rating and issued a $420.00 target price (up previously from $380.00) on shares of Stryker in a research note on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Stryker presently has a consensus rating of “Moderate Buy” and a consensus price target of $393.65.

Insider Transactions at Stryker

In other news, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the transaction, the vice president now directly owns 10,042 shares of the company’s stock, valued at approximately $3,715,540. The trade was a 17.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kevin Lobo sold 57,313 shares of the business’s stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the transaction, the chief executive officer now directly owns 100,027 shares in the company, valued at approximately $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 67,381 shares of company stock valued at $24,825,275. Corporate insiders own 5.50% of the company’s stock.

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.