Carmel Capital Partners LLC Has $1.34 Million Stake in Stryker Corporation $SYK

Carmel Capital Partners LLC reduced its stake in Stryker Corporation (NYSE:SYK) by 29.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,626 shares of the medical technology company’s stock after selling 1,498 shares during the period. Carmel Capital Partners LLC’s holdings in Stryker were worth $1,340,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Stryker by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock valued at $13,253,831,000 after acquiring an additional 440,607 shares during the period. State Street Corp raised its stake in Stryker by 1.0% in the second quarter. State Street Corp now owns 14,956,732 shares of the medical technology company’s stock valued at $5,929,765,000 after purchasing an additional 150,204 shares in the last quarter. Geode Capital Management LLC lifted its position in Stryker by 1.1% during the second quarter. Geode Capital Management LLC now owns 7,393,611 shares of the medical technology company’s stock worth $2,910,445,000 after purchasing an additional 79,654 shares during the period. Alliancebernstein L.P. grew its stake in Stryker by 307.6% during the second quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock worth $2,214,146,000 after buying an additional 4,223,366 shares in the last quarter. Finally, Norges Bank bought a new position in Stryker in the 2nd quarter valued at about $1,882,173,000. Institutional investors own 77.09% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on SYK. BTIG Research reaffirmed a “buy” rating and set a $410.00 price target on shares of Stryker in a report on Friday, November 14th. UBS Group set a $408.00 target price on Stryker in a research note on Monday, October 13th. Barclays raised their target price on Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Wall Street Zen upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Sunday, December 21st. Finally, Truist Financial decreased their target price on Stryker from $400.00 to $392.00 and set a “hold” rating on the stock in a research report on Thursday, December 18th. Fourteen investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $430.00.

Stryker Stock Down 1.2%

Shares of SYK opened at $358.68 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.13 and a current ratio of 1.85. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $406.19. The stock has a market capitalization of $137.17 billion, a price-to-earnings ratio of 47.13, a PEG ratio of 2.33 and a beta of 0.89. The stock has a fifty day moving average of $359.92 and a 200-day moving average of $373.19.

Stryker (NYSE:SYK) last issued its earnings results on Friday, October 31st. The medical technology company reported $3.19 earnings per share (EPS) for the quarter, topping 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 business had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $6.04 billion. During the same quarter in the prior year, the firm earned $2.87 EPS. The business’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be given a dividend of $0.88 per share. The ex-dividend date is Wednesday, December 31st. This represents a $3.52 annualized dividend and a yield of 1.0%. This is a boost from Stryker’s previous quarterly dividend of $0.84. Stryker’s dividend payout ratio is 46.25%.

Insiders Place Their Bets

In other Stryker news, CFO Preston Wendell Wells sold 165 shares of the company’s stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $365.88, for a total value of $60,370.20. Following the completion of the transaction, the chief financial officer directly owned 6,694 shares in the company, valued at approximately $2,449,200.72. This represents a 2.41% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO William E. Berry, Jr. sold 1,953 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $365.49, for a total transaction of $713,801.97. Following the transaction, the chief accounting officer directly owned 2,833 shares of the company’s stock, valued at $1,035,433.17. The trade was a 40.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 522,118 shares of company stock valued at $185,381,932 in the last ninety days. 5.90% of the stock is currently owned by insiders.

About Stryker

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.