Meridian Wealth Management LLC Buys New Position in Stryker Co. (NYSE:SYK)

Meridian Wealth Management LLC purchased a new stake in Stryker Co. (NYSE:SYK - Free Report) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,841 shares of the medical technology company's stock, valued at approximately $665,000.

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

Stryker Stock Performance

NYSE SYK traded down $0.22 on Monday, reaching $384.63. The stock had a trading volume of 2,102,817 shares, compared to its average volume of 1,272,761. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.91 and a quick ratio of 1.22. Stryker Co. has a 1-year low of $285.79 and a 1-year high of $398.20. The company has a market cap of $146.63 billion, a P/E ratio of 41.25, a price-to-earnings-growth ratio of 2.90 and a beta of 0.91. The firm has a fifty day moving average of $366.20 and a two-hundred day moving average of $349.63.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company had revenue of $5.49 billion for the quarter, compared to the consensus estimate of $5.37 billion. During the same quarter last year, the business posted $2.46 EPS. Stryker's revenue for the quarter was up 11.9% on a year-over-year basis. On average, equities research analysts anticipate that Stryker Co. will post 12.06 EPS for the current year.

Wall Street Analyst Weigh In

SYK has been the topic of a number of analyst reports. Royal Bank of Canada increased their price target on Stryker from $386.00 to $400.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Canaccord Genuity Group raised their target price on Stryker from $360.00 to $400.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. BTIG Research upped their price target on Stryker from $383.00 to $394.00 and gave the company 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 set an "outperform" rating and a $405.00 price objective on the stock. Finally, Truist Financial increased their price target on Stryker from $370.00 to $380.00 and gave the stock a "hold" rating in a report on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, Stryker currently has an average rating of "Moderate Buy" and an average target price of $393.65.

Insider Activity

In other news, CEO Kevin Lobo sold 57,313 shares of the firm's stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $368.70, for a total value of $21,131,303.10. Following the completion of the transaction, the chief executive officer now directly owns 100,027 shares of the company's stock, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Viju Menon sold 600 shares of the business's stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares of the company's stock, valued at approximately $3,219,495. This represents a 6.21 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 67,381 shares of company stock worth $24,825,275. Company insiders own 5.50% of the company's stock.

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.