Carnegie Investment Counsel Buys 3,752 Shares of Stryker Corporation $SYK

Carnegie Investment Counsel lifted its stake in shares of Stryker Corporation (NYSE:SYK) by 1.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 210,726 shares of the medical technology company’s stock after buying an additional 3,752 shares during the period. Stryker comprises about 1.5% of Carnegie Investment Counsel’s holdings, making the stock its 11th largest position. Carnegie Investment Counsel’s holdings in Stryker were worth $77,899,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mid American Wealth Advisory Group Inc. purchased a new position in shares of Stryker during the 2nd quarter worth approximately $26,000. Clayton Financial Group LLC purchased a new position in shares of Stryker in the 3rd quarter valued at approximately $26,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Stryker during the second quarter valued at approximately $28,000. Sachetta LLC grew its stake 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 purchasing an additional 27 shares during the period. Finally, Kilter Group LLC purchased a new stake in Stryker in the second quarter worth $29,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. Citizens Jmp raised Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price objective for the company in a research report on Friday, December 19th. Wells Fargo & Company increased their price target on shares of Stryker from $452.00 to $456.00 and gave the stock an “overweight” rating in a research note on Friday, November 14th. Evercore ISI dropped their price objective on shares of Stryker from $410.00 to $405.00 and set an “outperform” rating on the stock in a research note on Friday, October 31st. Truist Financial cut their price objective on shares of Stryker from $400.00 to $392.00 and set a “hold” rating on the stock in a report on Thursday, December 18th. Finally, Barclays lifted their target price on shares of Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Thirteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $431.84.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 276,173 shares of the company’s stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the transaction, the director directly owned 2,702,108 shares of the company’s stock, valued at $954,600,714.24. This represents a 9.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Preston Wendell Wells sold 165 shares of the stock in a transaction 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 sale, the chief financial officer directly owned 6,694 shares in the company, valued at $2,449,200.72. This trade represents a 2.41% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 522,118 shares of company stock worth $185,381,932 over the last quarter. 5.90% of the stock is currently owned by insiders.

Stryker Stock Down 0.2%

NYSE:SYK opened at $354.20 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. The firm has a market cap of $135.45 billion, a P/E ratio of 46.54, a P/E/G ratio of 2.51 and a beta of 0.89. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The firm has a 50-day simple moving average of $363.78 and a two-hundred day simple moving average of $376.55.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Friday, October 31st. The medical technology company reported $3.19 EPS for the quarter, beating analysts’ consensus estimates of $3.13 by $0.06. The firm had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $6.04 billion. Stryker had a net margin of 12.07% and a return on equity of 24.07%. The business’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.87 earnings per share. Analysts predict 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. Shareholders of record on Wednesday, December 31st will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date of this dividend is Wednesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.84. Stryker’s dividend payout ratio is 44.15%.

Stryker 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.