Summit Financial LLC Has $8.83 Million Stake in Stryker Co. (NYSE:SYK)

Summit Financial LLC lifted its holdings in Stryker Co. (NYSE:SYK) by 236.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm 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.

Several other large investors have also recently bought and sold shares of SYK. Kohmann Bosshard Financial Services LLC acquired a new stake in Stryker during the 4th quarter worth about $25,000. Dunhill Financial LLC lifted its position in shares of Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 37 shares in the last quarter. Rakuten Securities Inc. boosted its holdings in shares of Stryker by 618.2% during the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock worth $28,000 after purchasing an additional 68 shares during the period. Centricity Wealth Management LLC purchased a new position in Stryker during the fourth quarter valued at approximately $30,000. Finally, BankPlus Trust Department acquired a new position in Stryker in the 4th quarter valued at approximately $33,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Trading Down 0.9 %

Shares of NYSE:SYK opened at $364.38 on Monday. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. 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 company has a market cap of $139.08 billion, a P/E ratio of 46.96, a P/E/G ratio of 2.93 and a beta of 0.95. The stock’s 50-day moving average is $384.08 and its 200-day moving average is $374.37.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 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 period in the prior year, the company posted $3.46 EPS. Equities research analysts predict that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.92%. The ex-dividend date is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is presently 43.30%.

Insider Transactions at Stryker

In other news, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the transaction, the director now owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction that occurred 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 $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

SYK has been the topic of several research analyst reports. Citigroup restated a “buy” rating and set a $450.00 price target on shares of Stryker in a report on Wednesday, February 26th. Wells Fargo & Company boosted their target price on Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Royal Bank of Canada upped 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. JPMorgan Chase & Co. lifted their price target on Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, The Goldman Sachs Group set a $422.00 price objective on Stryker in a report on Tuesday, March 4th. Five 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.com, Stryker presently has a consensus rating of “Moderate Buy” and a consensus target price of $421.90.

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.