Carnegie Investment Counsel Grows Position in Stryker Corporation $SYK

Carnegie Investment Counsel grew its holdings in shares of Stryker Corporation (NYSE:SYK) by 1.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 210,726 shares of the medical technology company’s stock after acquiring an additional 3,752 shares during the quarter. Stryker comprises 1.5% of Carnegie Investment Counsel’s investment portfolio, making the stock its 11th largest position. Carnegie Investment Counsel owned about 0.06% of Stryker worth $77,899,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SYK. Mid American Wealth Advisory Group Inc. bought a new stake in Stryker during the second quarter valued at approximately $26,000. Clayton Financial Group LLC bought a new stake in shares of Stryker during the 3rd quarter worth $26,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Stryker during the 2nd quarter worth $28,000. Sachetta LLC grew its position in Stryker by 58.7% in the second quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock worth $29,000 after acquiring an additional 27 shares in the last quarter. Finally, Kilter Group LLC bought a new position in Stryker in the second quarter valued at $29,000. 77.09% of the stock is currently owned by institutional investors.

Stryker Price Performance

SYK opened at $354.20 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.85 and a quick ratio of 1.13. The stock’s 50 day simple moving average is $363.78 and its 200 day simple moving average is $376.55. The firm has a market cap of $135.45 billion, a price-to-earnings ratio of 46.54, a PEG ratio of 2.51 and a beta of 0.89. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19.

Stryker (NYSE:SYK) last released its quarterly earnings data on Friday, October 31st. The medical technology company reported $3.19 earnings per share for the quarter, beating analysts’ consensus estimates of $3.13 by $0.06. Stryker had a return on equity of 24.07% and a net margin of 12.07%.The firm had revenue of $6.06 billion during the quarter, compared to analyst estimates of $6.04 billion. During the same quarter in the prior year, the firm posted $2.87 earnings per share. The business’s quarterly revenue was up 10.2% compared to the same quarter last year. As a group, analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. This is a positive change from Stryker’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Wednesday, December 31st. Stryker’s payout ratio is currently 44.15%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Rothschild Redb raised Stryker to a “hold” rating in a research note on Thursday, September 18th. Evercore ISI decreased their price objective on Stryker from $410.00 to $405.00 and set an “outperform” rating on the stock in a report on Friday, October 31st. Citizens Jmp upgraded Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 target price for the company in a research report on Friday, December 19th. Citigroup cut their target price on Stryker from $455.00 to $420.00 and set a “buy” rating for the company in a research note on Thursday, December 11th. Finally, Royal Bank Of Canada reissued an “outperform” rating and set a $435.00 price target on shares of Stryker in a research note on Friday, November 14th. Thirteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $431.84.

Insider Transactions at Stryker

In related news, CAO William E. Berry, Jr. sold 1,953 shares of the firm’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $365.49, for a total value of $713,801.97. Following the sale, the chief accounting officer directly owned 2,833 shares of the company’s stock, valued at $1,035,433.17. This trade represents a 40.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ronda E. Stryker sold 276,173 shares of the business’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $353.28, for a total value of $97,566,397.44. Following the transaction, the director owned 2,702,108 shares in the company, valued at approximately $954,600,714.24. This represents a 9.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 522,118 shares of company stock worth $185,381,932. Company insiders own 5.90% of the company’s stock.

Stryker Company Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.