1,900 Shares in Stryker Co. (NYSE:SYK) Acquired by Meritage Portfolio Management

Meritage Portfolio Management acquired a new position in Stryker Co. (NYSE:SYK) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,900 shares of the medical technology company’s stock, valued at approximately $569,000.

Other large investors also recently bought and sold shares of the company. Strategic Blueprint LLC grew its holdings in Stryker by 39.8% in the third quarter. Strategic Blueprint LLC now owns 980 shares of the medical technology company’s stock worth $268,000 after purchasing an additional 279 shares during the last quarter. Coastline Trust Co grew its holdings in Stryker by 26.1% in the third quarter. Coastline Trust Co now owns 1,470 shares of the medical technology company’s stock worth $402,000 after purchasing an additional 304 shares during the last quarter. UMB Bank n.a. grew its holdings in Stryker by 0.7% in the third quarter. UMB Bank n.a. now owns 7,767 shares of the medical technology company’s stock worth $2,122,000 after purchasing an additional 57 shares during the last quarter. L. Roy Papp & Associates LLP grew its holdings in Stryker by 0.9% in the third quarter. L. Roy Papp & Associates LLP now owns 62,286 shares of the medical technology company’s stock worth $17,021,000 after purchasing an additional 565 shares during the last quarter. Finally, Blue Fin Capital Inc. grew its holdings in Stryker by 5.3% in the third quarter. Blue Fin Capital Inc. now owns 9,413 shares of the medical technology company’s stock worth $2,572,000 after purchasing an additional 470 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on SYK shares. Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and boosted their price objective for the company from $315.00 to $360.00 in a report on Wednesday, January 31st. Royal Bank of Canada boosted their price objective on shares of Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a report on Monday, April 15th. Truist Financial boosted their price objective on shares of Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a report on Wednesday, January 31st. Citigroup boosted their price objective on shares of Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Finally, Canaccord Genuity Group raised shares of Stryker from a “hold” rating to a “buy” rating and set a $360.00 price objective on the stock in a report on Wednesday, January 31st. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $340.67.

Insider Buying and Selling

In related news, 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 transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, 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 transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Allan C. Golston sold 3,273 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $341.00, for a total transaction of $1,116,093.00. Following the sale, the director now directly owns 14,242 shares of the company’s stock, valued at approximately $4,856,522. The disclosure for this sale can be found here. Insiders sold a total of 212,109 shares of company stock worth $72,845,768 in the last 90 days. Insiders own 5.90% of the company’s stock.

Stryker Price Performance

Shares of Stryker stock traded down $0.87 during trading hours on Friday, reaching $336.28. The stock had a trading volume of 607,323 shares, compared to its average volume of 1,278,033. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41. The company has a current ratio of 1.58, a quick ratio of 0.97 and a debt-to-equity ratio of 0.59. The stock’s 50 day moving average is $349.16 and its 200 day moving average is $314.40. The firm has a market capitalization of $127.94 billion, a PE ratio of 40.96, a PEG ratio of 2.71 and a beta of 0.89.

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

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Investors of record on Friday, March 29th will be given a dividend of $0.80 per share. The ex-dividend date is Wednesday, March 27th. This represents a $3.20 annualized dividend and a dividend yield of 0.95%. Stryker’s dividend payout ratio (DPR) is presently 38.79%.

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.