Summit Financial LLC Has $7.75 Million Stock Holdings in Stryker Corporation $SYK

Key Points

• Summit Financial LLC reduced its holdings in Stryker Corporation by 14.9%, owning 20,821 shares worth approximately $7.75 million after selling 3,635 shares in the first quarter.
• Director Ronda E. Stryker sold 200,000 shares at an average price of $376.45, totaling $75.29 million, resulting in a 5.84% decrease in her position.
• Stryker's stock had a market cap of $149.87 billion with a recent quarterly earnings per share of $3.13, exceeding analysts' estimates, and the company announced a quarterly dividend of $0.84 per share.

Summit Financial LLC trimmed its stake in Stryker Corporation (NYSE:SYK - Free Report) by 14.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 20,821 shares of the medical technology company's stock after selling 3,635 shares during the period. Summit Financial LLC's holdings in Stryker were worth $7,751,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Continuum Advisory LLC lifted its position in shares of Stryker by 5.8% during the 1st quarter. Continuum Advisory LLC now owns 532 shares of the medical technology company's stock valued at $198,000 after acquiring an additional 29 shares during the period. Oakworth Capital Inc. lifted its position in shares of Stryker by 0.5% during the 1st quarter. Oakworth Capital Inc. now owns 6,133 shares of the medical technology company's stock valued at $2,283,000 after acquiring an additional 29 shares during the period. Strategy Asset Managers LLC lifted its position in shares of Stryker by 1.4% during the 1st quarter. Strategy Asset Managers LLC now owns 2,134 shares of the medical technology company's stock valued at $794,000 after acquiring an additional 29 shares during the period. Rinkey Investments lifted its position in shares of Stryker by 1.1% during the 4th quarter. Rinkey Investments now owns 2,712 shares of the medical technology company's stock valued at $976,000 after acquiring an additional 30 shares during the period. Finally, Tritonpoint Wealth LLC lifted its position in shares of Stryker by 0.7% during the 1st quarter. Tritonpoint Wealth LLC now owns 4,042 shares of the medical technology company's stock valued at $1,508,000 after acquiring an additional 30 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total value of $75,290,000.00. Following the completion of the transaction, the director owned 3,222,108 shares of the company's stock, valued at $1,212,962,556.60. This represents a 5.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.90% of the stock is currently owned by insiders.

Stryker Price Performance

SYK traded up $8.9740 on Friday, reaching $393.8040. The stock had a trading volume of 896,076 shares, compared to its average volume of 1,348,874. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The firm has a 50-day moving average of $387.51 and a 200-day moving average of $379.37. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $150.56 billion, a price-to-earnings ratio of 52.16, a price-to-earnings-growth ratio of 2.86 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last issued its earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The business had revenue of $6.02 billion during the quarter, compared to analysts' expectations of $5.92 billion. During the same quarter in the prior year, the firm earned $2.81 EPS. The business's revenue for the quarter was up 11.1% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, sell-side analysts anticipate that Stryker Corporation 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 Friday, October 31st. Shareholders of record on Tuesday, September 30th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker's dividend payout ratio is presently 44.50%.

Analysts Set New Price Targets

SYK has been the subject of a number of recent analyst reports. Wells Fargo & Company upped their target price on Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Citigroup reissued a "buy" rating and set a $455.00 price target (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Sanford C. Bernstein set a $450.00 price target on Stryker in a report on Monday, May 5th. Roth Mkm boosted their price target on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Finally, Needham & Company LLC boosted their price target on Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Fifteen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $430.10.

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.