Carnegie Investment Counsel Has $41.11 Million Holdings in Stryker Co. (NYSE:SYK)

Carnegie Investment Counsel increased its position in Stryker Co. (NYSE:SYK) by 1.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 114,184 shares of the medical technology company’s stock after purchasing an additional 1,731 shares during the period. Stryker comprises about 1.2% of Carnegie Investment Counsel’s investment portfolio, making the stock its 16th biggest holding. Carnegie Investment Counsel’s holdings in Stryker were worth $41,112,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SYK. Dunhill Financial LLC boosted its position in shares of Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after buying an additional 37 shares during the period. Centennial Bank AR lifted its stake in Stryker by 106.7% in the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after acquiring an additional 48 shares in the last quarter. Darwin Wealth Management LLC acquired a new stake in Stryker during the 3rd quarter worth about $36,000. HBW Advisory Services LLC purchased a new position in Stryker during the 3rd quarter valued at about $42,000. Finally, Hara Capital LLC acquired a new position in shares of Stryker in the 3rd quarter valued at about $42,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Kevin Lobo sold 57,313 shares of the company’s stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the transaction, the chief executive officer now owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.50% of the stock is owned by company insiders.

Stryker Price Performance

NYSE SYK opened at $381.32 on Friday. Stryker Co. has a 1 year low of $307.23 and a 1 year high of $398.20. The company has a fifty day simple moving average of $375.12 and a 200 day simple moving average of $358.32. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The company has a market cap of $145.36 billion, a P/E ratio of 40.87, a P/E/G ratio of 2.51 and a beta of 0.95.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The company had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same period in the prior year, the company earned $2.46 earnings per share. The business’s quarterly revenue was up 11.9% compared to the same quarter last year. On average, sell-side analysts predict that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.84 per share. The ex-dividend date is Tuesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.88%. Stryker’s payout ratio is 36.01%.

Wall Street Analyst Weigh In

SYK has been the topic of a number of research analyst reports. Truist Financial boosted their price objective on shares of Stryker from $380.00 to $409.00 and gave the company a “hold” rating in a research report on Wednesday, December 18th. Morgan Stanley upgraded shares of Stryker from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $370.00 to $445.00 in a report on Monday, December 2nd. Needham & Company LLC reiterated a “buy” rating and set a $442.00 price objective on shares of Stryker in a report on Tuesday, January 7th. Robert W. Baird boosted their target price on Stryker from $378.00 to $405.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Stryker in a research note on Tuesday, January 7th. Four equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat, Stryker presently has an average rating of “Moderate Buy” and a consensus target price of $405.80.

Stryker Company Profile

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.