Summit Financial LLC Purchases 17,196 Shares of Stryker Co. (NYSE:SYK)

Summit Financial LLC lifted its position in Stryker Co. (NYSE:SYK) by 236.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,456 shares of the medical technology company’s stock after buying an additional 17,196 shares during the period. Summit Financial LLC’s holdings in Stryker were worth $8,826,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Chicago Capital LLC raised its position in shares of Stryker by 3.1% during the fourth quarter. Chicago Capital LLC now owns 195,052 shares of the medical technology company’s stock worth $70,228,000 after purchasing an additional 5,841 shares during the period. Zhang Financial LLC increased its stake in Stryker by 55.0% during the 4th quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company’s stock worth $41,366,000 after purchasing an additional 40,784 shares in the last quarter. Appleton Partners Inc. MA raised its holdings in Stryker by 5.0% during the 4th quarter. Appleton Partners Inc. MA now owns 29,222 shares of the medical technology company’s stock worth $10,521,000 after buying an additional 1,400 shares during the period. Metis Global Partners LLC lifted its stake in Stryker by 10.2% in the fourth quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company’s stock valued at $6,064,000 after buying an additional 1,561 shares in the last quarter. Finally, US Bancorp DE increased its position in shares of Stryker by 0.5% during the fourth quarter. US Bancorp DE now owns 182,825 shares of the medical technology company’s stock worth $65,829,000 after acquiring an additional 976 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insiders Place Their Bets

In other news, Director Allan C. Golston sold 2,458 shares of the stock in a transaction on Tuesday, February 18th. The shares were 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 in the company, valued at $5,705,827.65. This represents a 14.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the transaction, the director now owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on SYK. Argus set a $450.00 price objective on shares of Stryker in a research report on Monday, February 3rd. Canaccord Genuity Group upped their price objective on Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. boosted their target price on Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Truist Financial raised their price target on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Finally, Wells Fargo & Company boosted their price objective on shares of Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and an average target price of $421.90.

Stryker Trading Down 0.9 %

Shares of NYSE SYK opened at $364.38 on Monday. The stock has a market cap of $139.08 billion, a P/E ratio of 46.96, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. The firm has a 50 day moving average price of $384.08 and a two-hundred day moving average price of $374.37. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter last year, the company posted $3.46 earnings per share. As a group, equities analysts forecast that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Monday, March 31st. Stryker’s dividend payout ratio is presently 43.30%.

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.