Meridiem Capital Partners LP Invests $5.90 Million in Stryker Co. (NYSE:SYK)

Meridiem Capital Partners LP bought a new position in Stryker Co. (NYSE:SYK - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 16,387 shares of the medical technology company's stock, valued at approximately $5,900,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in SYK. Czech National Bank grew its stake in shares of Stryker by 6.6% in the fourth quarter. Czech National Bank now owns 74,430 shares of the medical technology company's stock valued at $26,799,000 after buying an additional 4,587 shares in the last quarter. Clark & Stuart Inc purchased a new stake in shares of Stryker during the fourth quarter valued at approximately $5,348,000. Fiduciary Alliance LLC acquired a new position in shares of Stryker during the fourth quarter worth $2,486,000. Trust Co. of Toledo NA OH grew its holdings in Stryker by 3.6% during the 4th quarter. Trust Co. of Toledo NA OH now owns 1,630 shares of the medical technology company's stock valued at $587,000 after purchasing an additional 56 shares in the last quarter. Finally, Brookstone Capital Management increased its stake in Stryker by 29.6% during the 4th quarter. Brookstone Capital Management now owns 3,094 shares of the medical technology company's stock worth $1,114,000 after buying an additional 706 shares during the period. Institutional investors and hedge funds own 77.09% of the company's stock.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the business's 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 completion of the sale, the director now owns 3,417,326 shares of the company's stock, valued at approximately $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 can be accessed through this link. Also, Director Allan C. Golston sold 2,458 shares of the business's stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction of $941,586.06. Following the completion of the sale, the director now directly owns 14,895 shares of the company's stock, valued at $5,705,827.65. This represents a 14.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.90% of the company's stock.

Analysts Set New Price Targets

SYK has been the topic of several recent analyst reports. Roth Mkm boosted their price target on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Evercore ISI decreased their price objective on shares of Stryker from $400.00 to $390.00 and set an "outperform" rating for the company in a report on Friday, May 2nd. Truist Financial increased their price target on shares of Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research report on Monday, May 5th. StockNews.com lowered Stryker from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Finally, Royal Bank of Canada lifted their target price on Stryker from $425.00 to $435.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Stryker has a consensus rating of "Moderate Buy" and an average price target of $427.05.

Stryker Price Performance

Shares of NYSE SYK traded up $2.04 during midday trading on Friday, reaching $394.24. The company's stock had a trading volume of 1,113,972 shares, compared to its average volume of 1,346,938. The company has a market cap of $150.48 billion, a price-to-earnings ratio of 50.80, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93. Stryker Co. has a one year low of $314.93 and a one year high of $406.19. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The company has a 50 day moving average price of $366.04 and a 200 day moving average price of $375.15.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.11. The business had revenue of $5.87 billion during 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 company's revenue was up 11.9% compared to the same quarter last year. During the same period last year, the company posted $2.50 EPS. On average, equities research analysts expect that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a dividend of $0.84 per share. The ex-dividend date is Monday, June 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.85%. Stryker's dividend payout ratio is 45.41%.

About Stryker

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.