Summit Trail Advisors LLC Has $1.72 Million Stock Position in Stryker Co. (NYSE:SYK)

Summit Trail Advisors LLC increased its stake in Stryker Co. (NYSE:SYK) by 3.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,053 shares of the medical technology company’s stock after acquiring an additional 148 shares during the quarter. Summit Trail Advisors LLC’s holdings in Stryker were worth $1,723,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Burkett Financial Services LLC acquired a new position in shares of Stryker in the fourth quarter worth approximately $25,000. Central Pacific Bank Trust Division acquired a new position in shares of Stryker in the first quarter worth approximately $39,000. DSM Capital Partners LLC acquired a new position in shares of Stryker in the fourth quarter worth approximately $34,000. Accent Capital Management LLC acquired a new position in shares of Stryker in the fourth quarter worth approximately $60,000. Finally, Sachetta LLC lifted its stake in Stryker by 16.3% in the second quarter. Sachetta LLC now owns 242 shares of the medical technology company’s stock valued at $80,000 after buying an additional 34 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Stryker

In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the transaction, the chief financial officer now owns 2,852 shares in the company, valued at approximately $949,716. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the transaction, the chief financial officer now owns 2,852 shares in the company, valued at approximately $949,716. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP M Kathryn Fink sold 7,347 shares of the company’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $366.98, for a total value of $2,696,202.06. Following the completion of the transaction, the vice president now owns 10,042 shares of the company’s stock, valued at approximately $3,685,213.16. The disclosure for this sale can be found here. Insiders sold 220,068 shares of company stock worth $71,811,372 in the last quarter. 5.90% of the stock is currently owned by company insiders.

Stryker Trading Down 0.1 %

Shares of Stryker stock opened at $364.81 on Friday. The stock has a fifty day simple moving average of $345.12 and a 200 day simple moving average of $342.89. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $374.63. The company has a market capitalization of $138.97 billion, a P/E ratio of 41.64, a price-to-earnings-growth ratio of 2.87 and a beta of 0.91. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The business had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same quarter in the prior year, the company posted $2.54 earnings per share. Stryker’s revenue was up 8.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Stryker Co. will post 12 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.80 dividend. The ex-dividend date is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a yield of 0.88%. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Analysts Set New Price Targets

Several equities analysts have issued reports on SYK shares. StockNews.com lowered Stryker from a “buy” rating to a “hold” rating in a research note on Monday, September 16th. Piper Sandler reissued an “overweight” rating and issued a $380.00 price target on shares of Stryker in a research note on Tuesday, September 10th. Truist Financial dropped their price target on Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a research note on Thursday, August 1st. UBS Group boosted their price target on Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Finally, Morgan Stanley boosted their price target on Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a research note on Monday, July 15th. Five analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $378.58.

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.