Stryker Co. (NYSE:SYK) Shares Acquired by Carnegie Capital Asset Management LLC

Carnegie Capital Asset Management LLC grew its stake in Stryker Co. (NYSE:SYK) by 0.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 96,241 shares of the medical technology company’s stock after purchasing an additional 497 shares during the period. Stryker comprises 1.0% of Carnegie Capital Asset Management LLC’s investment portfolio, making the stock its 20th biggest position. Carnegie Capital Asset Management LLC’s holdings in Stryker were worth $28,820,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Vontobel Holding Ltd. lifted its holdings in shares of Stryker by 4.7% in the 4th quarter. Vontobel Holding Ltd. now owns 63,077 shares of the medical technology company’s stock valued at $18,889,000 after buying an additional 2,847 shares during the period. Capital Advisors Inc. OK increased its stake in shares of Stryker by 19.4% in the 4th quarter. Capital Advisors Inc. OK now owns 118,391 shares of the medical technology company’s stock valued at $35,453,000 after purchasing an additional 19,199 shares in the last quarter. Boothe Investment Group Inc. increased its stake in shares of Stryker by 3.8% in the 4th quarter. Boothe Investment Group Inc. now owns 3,312 shares of the medical technology company’s stock valued at $992,000 after purchasing an additional 120 shares in the last quarter. Louisiana State Employees Retirement System purchased a new position in shares of Stryker in the 4th quarter valued at about $6,109,000. Finally, Consolidated Portfolio Review Corp increased its stake in shares of Stryker by 3.6% in the 4th quarter. Consolidated Portfolio Review Corp now owns 983 shares of the medical technology company’s stock valued at $294,000 after purchasing an additional 34 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Wall Street Analyst Weigh In

SYK has been the subject of several recent analyst reports. Truist Financial lifted their price target on Stryker from $330.00 to $345.00 and gave the company a “hold” rating in a research note on Wednesday, January 31st. Canaccord Genuity Group upgraded Stryker from a “hold” rating to a “buy” rating and set a $360.00 price objective for the company in a research note on Wednesday, January 31st. StockNews.com upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, January 23rd. TD Cowen boosted their target price on Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a report on Thursday. Finally, Citigroup boosted their target price on Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $338.09.

Stryker Trading Down 1.2 %

NYSE:SYK traded down $4.24 during trading hours on Friday, reaching $342.05. 1,056,840 shares of the stock were exchanged, compared to its average volume of 970,082. The company has a quick ratio of 0.97, a current ratio of 1.58 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average of $350.82 and a two-hundred day moving average of $310.64. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41. The company has a market capitalization of $130.14 billion, a price-to-earnings ratio of 41.46, a PEG ratio of 2.75 and a beta of 0.89.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $3.46 EPS for the quarter, topping analysts’ consensus estimates of $3.27 by $0.19. Stryker had a return on equity of 22.99% and a net margin of 15.44%. The company had revenue of $5.82 billion for the quarter, compared to analysts’ expectations of $5.60 billion. During the same period in the prior year, the firm earned $3.00 earnings per share. The firm’s revenue was up 11.8% compared to the same quarter last year. On average, equities analysts predict that Stryker Co. will post 11.86 EPS for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Wednesday, March 27th. Stryker’s dividend payout ratio (DPR) is 38.79%.

Insiders Place Their Bets

In other news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at $1,317,414. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO William E. Berry, Jr. sold 7,690 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the sale, the chief accounting officer now owns 3,675 shares of the company’s stock, valued at $1,317,414. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 201,146 shares of the company’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $342.90, for a total value of $68,972,963.40. Following the sale, the director now directly owns 3,755,128 shares in the company, valued at approximately $1,287,633,391.20. The disclosure for this sale can be found here. Insiders have sold 212,109 shares of company stock worth $72,845,768 over the last ninety days. Corporate insiders own 5.90% of the company’s stock.

About Stryker

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.