Merit Financial Group LLC Has $3.76 Million Stake in Stryker Co. (NYSE:SYK)

Merit Financial Group LLC boosted its position in shares of Stryker Co. (NYSE:SYK - Free Report) by 13.9% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,094 shares of the medical technology company's stock after buying an additional 1,232 shares during the quarter. Merit Financial Group LLC's holdings in Stryker were worth $3,757,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Kohmann Bosshard Financial Services LLC acquired a new position in shares of Stryker in the 4th quarter valued at $25,000. Capital A Wealth Management LLC acquired a new position in shares of Stryker in the 4th quarter valued at $26,000. Rakuten Securities Inc. boosted its position in shares of Stryker by 618.2% in the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock valued at $28,000 after purchasing an additional 68 shares during the period. Centricity Wealth Management LLC acquired a new position in shares of Stryker in the 4th quarter valued at $30,000. Finally, BankPlus Trust Department acquired a new position in shares of Stryker in the 4th quarter valued at $33,000. Institutional investors own 77.09% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on SYK shares. JMP Securities reiterated a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Citigroup reissued a "buy" rating and issued a $455.00 price objective (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Sanford C. Bernstein set a $450.00 price objective on Stryker in a research note on Monday, May 5th. Roth Mkm increased their price objective on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Finally, Truist Financial increased their price objective on Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research note on Monday, May 5th. Five equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $427.30.

Stryker Stock Up 0.0%

Shares of NYSE SYK traded up $0.19 during mid-day trading on Thursday, reaching $382.74. 904,802 shares of the company traded hands, compared to its average volume of 1,332,627. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The stock has a market cap of $146.09 billion, a PE ratio of 49.32, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93. The company's fifty day moving average is $369.68 and its two-hundred day moving average is $376.11. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, beating analysts' consensus estimates of $2.73 by $0.11. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The firm's revenue for the quarter was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.50 EPS. On average, analysts expect that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio is 45.41%.

Insider Activity

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the transaction, the director now directly owns 3,417,326 shares of the company's stock, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 5.90% of the stock is currently owned by insiders.

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.