Stone Summit Wealth LLC Sells 710 Shares of Stryker Co. (NYSE:SYK)

Stone Summit Wealth LLC lowered its stake in Stryker Co. (NYSE:SYK) by 5.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,992 shares of the medical technology company’s stock after selling 710 shares during the period. Stryker makes up approximately 1.4% of Stone Summit Wealth LLC’s holdings, making the stock its 19th biggest position. Stone Summit Wealth LLC’s holdings in Stryker were worth $4,318,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Ritholtz Wealth Management boosted its position in Stryker by 6.3% during the third quarter. Ritholtz Wealth Management now owns 5,140 shares of the medical technology company’s stock worth $1,857,000 after purchasing an additional 306 shares during the period. InTrack Investment Management Inc lifted its stake in shares of Stryker by 8.1% in the third quarter. InTrack Investment Management Inc now owns 3,612 shares of the medical technology company’s stock worth $1,305,000 after buying an additional 271 shares during the last quarter. Mechanics Bank Trust Department grew its stake in Stryker by 5.0% in the 3rd quarter. Mechanics Bank Trust Department now owns 7,563 shares of the medical technology company’s stock valued at $2,732,000 after buying an additional 359 shares during the last quarter. Annex Advisory Services LLC raised its holdings in Stryker by 6.0% in the 3rd quarter. Annex Advisory Services LLC now owns 8,314 shares of the medical technology company’s stock worth $3,004,000 after acquiring an additional 471 shares during the period. Finally, Retirement Planning Group LLC acquired a new position in Stryker during the 3rd quarter worth $249,000. Institutional investors own 77.09% of the company’s stock.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 201,392 shares of the company’s 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 transaction, the director now directly owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Stryker stock opened at $391.42 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 current ratio of 1.95 and a quick ratio of 1.32. The stock has a fifty day moving average price of $377.23 and a two-hundred day moving average price of $364.97. The firm has a market capitalization of $149.22 billion, a P/E ratio of 50.44, a P/E/G ratio of 2.98 and a beta of 0.96.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same quarter in the prior year, the company posted $3.46 earnings per share. As a group, analysts anticipate that Stryker Co. will post 13.49 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.84 per share. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.86%. Stryker’s dividend payout ratio (DPR) is 43.30%.

Analyst Ratings Changes

Several brokerages have recently issued reports on SYK. The Goldman Sachs Group raised their price target on Stryker from $384.00 to $427.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Piper Sandler reaffirmed an “overweight” rating and issued a $420.00 price target (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $370.00 to $445.00 in a research report on Monday, December 2nd. Robert W. Baird boosted their target price on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, BTIG Research increased their price target on shares of Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $419.37.

Stryker Company 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.