Meeder Asset Management Inc. Sells 715 Shares of Stryker Co. (NYSE:SYK)

Meeder Asset Management Inc. decreased its position in shares of Stryker Co. (NYSE:SYK) by 88.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 92 shares of the medical technology company’s stock after selling 715 shares during the period. Meeder Asset Management Inc.’s holdings in Stryker were worth $31,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Burkett Financial Services LLC bought a new stake in shares of Stryker during the fourth quarter worth $25,000. DSM Capital Partners LLC bought a new stake in shares of Stryker in the 4th quarter valued at about $34,000. Central Pacific Bank Trust Division bought a new stake in shares of Stryker in the 1st quarter valued at about $39,000. Accent Capital Management LLC bought a new position in Stryker during the 4th quarter worth approximately $60,000. Finally, Sachetta LLC bought a new stake in Stryker in the fourth quarter valued at approximately $62,000. Institutional investors own 77.09% of the company’s stock.

Stryker Trading Up 0.7 %

Shares of SYK opened at $370.25 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $374.24. The company has a market capitalization of $141.09 billion, a P/E ratio of 42.27, a P/E/G ratio of 2.84 and a beta of 0.91. The firm’s 50 day simple moving average is $342.26 and its 200 day simple moving average is $342.37.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. The company had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm’s revenue was up 8.5% compared to the same quarter last year. During the same quarter last year, the company earned $2.54 EPS. Sell-side analysts forecast that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.86%. The ex-dividend date is Monday, September 30th. Stryker’s payout ratio is currently 36.53%.

Insiders Place Their Bets

In other news, insider Viju Menon sold 600 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Viju Menon sold 600 shares of the business’s stock in a transaction 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 sale, the insider now owns 9,069 shares in the company, valued at approximately $3,219,495. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Ronda E. Stryker sold 190,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the transaction, the director now owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The disclosure for this sale can be found here. Insiders sold 210,600 shares of company stock worth $68,330,400 over the last three months. Company insiders own 5.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a report on Thursday, July 11th. Piper Sandler reissued an “overweight” rating and set a $380.00 target price on shares of Stryker in a report on Tuesday, September 10th. Stifel Nicolaus lowered their price objective on Stryker from $375.00 to $365.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. The Goldman Sachs Group assumed coverage on Stryker in a research note on Thursday, May 30th. They set a “neutral” rating and a $372.00 target price for the company. Finally, UBS Group upped their price target on shares of Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $378.58.

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.