Carmel Capital Partners LLC Sells 1,498 Shares of Stryker Corporation $SYK

Carmel Capital Partners LLC decreased its position in shares of Stryker Corporation (NYSE:SYK) by 29.2% in the 3rd quarter, Holdings Channel reports. The firm owned 3,626 shares of the medical technology company’s stock after selling 1,498 shares during the quarter. Carmel Capital Partners LLC’s holdings in Stryker were worth $1,340,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of SYK. Brighton Jones LLC lifted its holdings in Stryker by 15.4% in the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock valued at $1,643,000 after buying an additional 609 shares during the period. Assenagon Asset Management S.A. raised its position in shares of Stryker by 1.0% in the 2nd quarter. Assenagon Asset Management S.A. now owns 10,478 shares of the medical technology company’s stock worth $4,145,000 after acquiring an additional 103 shares in the last quarter. Fifth Third Bancorp lifted its stake in shares of Stryker by 4.0% in the 2nd quarter. Fifth Third Bancorp now owns 99,633 shares of the medical technology company’s stock valued at $39,418,000 after purchasing an additional 3,790 shares during the period. Accurate Wealth Management LLC boosted its position in shares of Stryker by 6.7% during the 2nd quarter. Accurate Wealth Management LLC now owns 1,394 shares of the medical technology company’s stock valued at $550,000 after purchasing an additional 88 shares in the last quarter. Finally, Norden Group LLC grew its stake in Stryker by 16.2% during the second quarter. Norden Group LLC now owns 1,245 shares of the medical technology company’s stock worth $492,000 after purchasing an additional 174 shares during the period. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Performance

NYSE SYK opened at $358.68 on Friday. The company has a fifty day moving average price of $359.92 and a 200-day moving average price of $373.19. The firm has a market cap 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 company has a debt-to-equity ratio of 0.68, a current ratio of 1.85 and a quick ratio of 1.13. 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 results on Friday, October 31st. The medical technology company reported $3.19 earnings per share for the quarter, topping the consensus estimate of $3.13 by $0.06. Stryker had a net margin of 12.07% and a return on equity of 24.07%. The business had revenue of $6.06 billion for the quarter, compared to analysts’ expectations of $6.04 billion. During the same period in the previous year, the company earned $2.87 earnings per share. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. As a group, equities research analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Increases Dividend

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

Analysts Set New Price Targets

Several equities analysts have issued reports on SYK shares. Wells Fargo & Company boosted their price target on Stryker from $452.00 to $456.00 and gave the company an “overweight” rating in a research note on Friday, November 14th. The Goldman Sachs Group set a $399.00 target price on shares of Stryker in a research report on Friday, January 9th. Citizens Jmp raised shares of Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 target price on the stock in a research note on Friday, December 19th. Sanford C. Bernstein lifted their price target on shares of Stryker from $450.00 to $465.00 and gave the company an “outperform” rating in a research note on Friday, January 9th. Finally, Raymond James Financial raised shares of Stryker from a “market perform” rating to an “outperform” rating and set a $418.00 price objective on the stock in a research report on Tuesday, January 6th. Fourteen analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $430.00.

Insider Activity at Stryker

In related news, CAO William E. Berry, Jr. sold 1,953 shares of Stryker stock in a transaction on Friday, November 14th. The stock was sold at an average price of $365.49, for a total transaction of $713,801.97. Following the sale, the chief accounting officer directly owned 2,833 shares in the company, valued at approximately $1,035,433.17. This trade represents a 40.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Ronda E. Stryker sold 276,173 shares of the company’s stock in a transaction on 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 completion of the transaction, the director owned 2,702,108 shares of the company’s stock, valued at $954,600,714.24. This trade represents a 9.27% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 522,118 shares of company stock valued at $185,381,932. 5.90% of the stock is 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.