Stryker Corporation $SYK Shares Newly Purchased by Summit Wealth Group LLC Co.

Summit Wealth Group LLC Co. bought a new position in shares of Stryker Corporation (NYSE:SYK) in the 3rd quarter, Holdings Channel reports. The fund bought 6,536 shares of the medical technology company’s stock, valued at approximately $1,800,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SYK. Gables Capital Management Inc. bought a new position in Stryker in the 2nd quarter valued at about $25,000. Kilter Group LLC bought a new stake in shares of Stryker during the second quarter worth approximately $25,000. Highland Investment Advisors LLC bought a new stake in shares of Stryker during the second quarter worth approximately $25,000. Cornerstone Financial Management LLC boosted its holdings in shares of Stryker by 66.0% during the second quarter. Cornerstone Financial Management LLC now owns 78 shares of the medical technology company’s stock worth $25,000 after acquiring an additional 31 shares during the period. Finally, Compass Financial Management LLC acquired a new position in shares of Stryker in the second quarter valued at approximately $27,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Transactions at Stryker

In related news, insider Debra King sold 826 shares of the stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $336.30, for a total transaction of $277,783.80. Following the sale, the insider owned 6,210 shares in the company, valued at approximately $2,088,423. This trade represents a 11.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Dylan Crotty sold 441 shares of Stryker stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $328.61, for a total transaction of $144,917.01. Following the completion of the transaction, the insider directly owned 6,102 shares in the company, valued at $2,005,178.22. This trade represents a 6.74% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 351,267 shares of company stock valued at $118,197,701. Company insiders own 4.60% of the company’s stock.

Key Headlines Impacting Stryker

Here are the key news stories impacting Stryker this week:

• Positive Sentiment: JPMorgan lowered its price target from $350 to $340 but maintained an Overweight rating, implying roughly 11% potential upside from the referenced share price.
• Positive Sentiment: Barclays reaffirmed its Buy rating, signaling continued confidence in Stryker’s medical-device portfolio despite near-term estimate revisions. Barclays Reaffirms Their Buy Rating on Stryker
• Neutral Sentiment: Truist reaffirmed its Hold rating and reduced its target from $310 to $305, indicating limited near-term upside at the referenced price. Truist Reaffirms Hold Rating on Stryker
• Neutral Sentiment: Price-target reductions from Citizens JMP, Citigroup, TD Cowen and Barclays reflect analysts resetting expectations after Stryker’s third-quarter results and guidance. Barclays nevertheless retained its Buy view. Stryker Fair Value Falls After Analysts Reset Expectations
• Negative Sentiment: Canaccord Genuity Group downgraded Stryker to Hold, adding to concern about valuation and the company’s near-term earnings outlook.
• Negative Sentiment: The stock recently fell below its 50-day moving average after Stryker slightly missed quarterly earnings and revenue expectations, an indication that disappointing results remain an overhang for investors. Stryker Stock Breaks Below 50-Day Moving Average

Stryker Stock Up 5.1%

SYK stock opened at $306.77 on Tuesday. Stryker Corporation has a 52 week low of $267.00 and a 52 week high of $389.33. The business has a 50-day simple moving average of $292.37 and a 200 day simple moving average of $324.26. The company has a quick ratio of 1.33, a current ratio of 2.16 and a debt-to-equity ratio of 0.59. The company has a market cap of $117.67 billion, a PE ratio of 32.67, a price-to-earnings-growth ratio of 1.96 and a beta of 0.78.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, October 29th. The medical technology company reported $3.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.55 by ($0.03). Stryker had a return on equity of 23.63% and a net margin of 14.43%. The firm had revenue of $6.52 billion for the quarter, compared to analyst estimates of $6.62 billion. During the same quarter in the previous year, the company earned $3.19 earnings per share. The company’s quarterly revenue was up 7.6% on a year-over-year basis. Sell-side analysts anticipate that Stryker Corporation will post 14.85 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Royal Bank Of Canada lowered their target price on Stryker from $420.00 to $375.00 and set an “outperform” rating on the stock in a research note on Friday. Wolfe Research downgraded Stryker from an “outperform” rating to a “peer perform” rating in a research note on Thursday, August 13th. BTIG Research reduced their price target on Stryker from $316.00 to $304.00 and set a “buy” rating for the company in a research note on Friday. JPMorgan Chase & Co. lowered their price objective on Stryker from $350.00 to $340.00 and set an “overweight” rating on the stock in a research report on Friday. Finally, Canaccord Genuity Group downgraded Stryker from a “buy” rating to a “hold” rating and dropped their target price for the stock from $385.00 to $300.00 in a report on Friday. Sixteen analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $355.04.

Stryker Profile

Stryker Corporation (NYSE: SYK) is a global medical technology company that develops and manufactures products used by healthcare providers in hospitals, surgical centers and other clinical settings. Its offerings are designed to support orthopaedic procedures, surgery, emergency care, neurovascular treatment and patient handling.

The company’s product portfolio includes orthopaedic implants and instruments, products for trauma and spine procedures, surgical equipment, endoscopy systems, patient beds and stretchers, emergency medical equipment, and neurovascular devices used in the treatment of conditions such as stroke.