Summit Financial LLC Raises Stake in Stryker Co. (NYSE:SYK)

Summit Financial LLC increased its holdings in shares of Stryker Co. (NYSE:SYK - Free Report) by 236.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 24,456 shares of the medical technology company's stock after acquiring 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 institutional investors and hedge funds have also recently modified their holdings of the company. Kohmann Bosshard Financial Services LLC purchased a new position in shares of Stryker during the 4th quarter valued at approximately $25,000. Dunhill Financial LLC lifted its stake 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 buying an additional 37 shares in the last quarter. Rakuten Securities Inc. grew its position in shares of Stryker by 618.2% in the fourth 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 in the last quarter. Centricity Wealth Management LLC purchased a new stake in Stryker in the 4th quarter valued at $30,000. Finally, BankPlus Trust Department acquired a new stake in shares of Stryker in the 4th quarter worth $33,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Stryker Stock Down 4.3 %

Stryker stock traded down $15.72 during trading on Friday, reaching $352.43. The stock had a trading volume of 2,002,039 shares, compared to its average volume of 1,497,803. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The business has a 50 day moving average price of $382.64 and a 200 day moving average price of $374.41. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The stock has a market cap of $134.52 billion, a PE ratio of 45.42, a P/E/G ratio of 2.93 and a beta of 0.95.

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Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating analysts' consensus estimates 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 previous year, the firm earned $3.46 EPS. On average, analysts predict that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.84 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.95%. Stryker's dividend payout ratio is currently 43.30%.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 201,392 shares of Stryker 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 sale, the director now directly owns 3,642,075 shares in the company, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the transaction, the director now directly owns 14,895 shares in the company, valued at approximately $5,705,827.65. The trade was a 14.16 % decrease in their position. The disclosure for this sale can be found here. 5.50% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. JMP Securities restated a "market perform" rating on shares of Stryker in a research report on Tuesday, February 18th. The Goldman Sachs Group set a $422.00 price objective on Stryker in a research report on Tuesday, March 4th. Wells Fargo & Company upped their price target 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 raised their price objective on Stryker from $425.00 to $435.00 and gave the stock an "outperform" rating in a research report on Wednesday, January 29th. Finally, Needham & Company LLC restated a "buy" rating and issued a $442.00 price objective on shares of Stryker in a report on Friday, March 21st. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target 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.