26,344 Stryker Corporation $SYK Shares Sold by Carnegie Lake Advisors LLC

Carnegie Lake Advisors LLC lessened its stake in shares of Stryker Corporation (NYSE:SYK) by 97.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 825 shares of the medical technology company’s stock after selling 26,344 shares during the period. Carnegie Lake Advisors LLC’s holdings in Stryker were worth $227,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Gables Capital Management Inc. bought a new stake in shares of Stryker during the 2nd quarter valued at $25,000. Kilter Group LLC acquired a new stake in shares of Stryker during the 2nd quarter worth $25,000. Highland Investment Advisors LLC bought a new position in shares of Stryker in the second quarter worth $25,000. Cornerstone Financial Management LLC increased its position in shares of Stryker by 66.0% in the second quarter. Cornerstone Financial Management LLC now owns 78 shares of the medical technology company’s stock worth $25,000 after purchasing an additional 31 shares during the period. Finally, Compass Financial Management LLC acquired a new position in Stryker in the second quarter valued at about $27,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Debra King sold 826 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $336.30, for a total value of $277,783.80. Following the completion of the transaction, the insider owned 6,210 shares of the company’s stock, valued at approximately $2,088,423. This represents a 11.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronda Stryker sold 300,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $335.90, for a total transaction of $100,770,000.00. Following the completion of the sale, the director owned 2,301,375 shares in the company, valued at approximately $773,031,862.50. The trade was a 11.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 351,267 shares of company stock valued at $118,197,701. 4.60% of the stock is currently owned by corporate insiders.

Stryker Price Performance

Stryker stock opened at $325.26 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.30 and a current ratio of 2.18. Stryker Corporation has a 52 week low of $267.00 and a 52 week high of $389.33. The stock has a market capitalization of $123.83 billion, a P/E ratio of 34.64, a price-to-earnings-growth ratio of 2.24 and a beta of 0.78. The stock has a fifty day moving average of $292.37 and a 200-day moving average of $323.59.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, October 29th. The medical technology company reported $3.52 earnings per share for the quarter, missing the consensus estimate of $3.55 by ($0.03). The business had revenue of $6.52 billion for the quarter, compared to the consensus estimate of $6.62 billion. Stryker had a return on equity of 23.74% and a net margin of 13.78%. Stryker’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.19 earnings per share. On average, sell-side analysts expect that Stryker Corporation will post 14.84 earnings per share for the current fiscal year.

Analyst Ratings Changes

SYK has been the subject of several recent analyst reports. Canaccord Genuity Group cut shares of Stryker from a “buy” rating to a “hold” rating and cut their price objective for the stock from $385.00 to $300.00 in a research report on Friday, October 30th. Citigroup reiterated a “market outperform” rating on shares of Stryker in a research note on Friday, October 30th. Needham & Company LLC decreased their target price on shares of Stryker from $418.00 to $359.00 and set a “buy” rating on the stock in a report on Friday, October 30th. Robert W. Baird dropped their target price on shares of Stryker from $385.00 to $334.00 in a research report on Friday, October 30th. Finally, Jefferies Financial Group cut their price target on shares of Stryker from $440.00 to $405.00 and set a “buy” rating for the company in a report on Tuesday, September 22nd. Twenty-one analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $343.73.

Stryker Profile

Stryker is a medical technology company that develops and sells products and services for healthcare providers. Its offerings include orthopedic implants and surgical equipment, neurotechnology and spine products, and medical and surgical equipment used in hospitals and other care settings.

The company’s products also include patient-handling and emergency medical equipment, as well as instruments and technologies that support surgical procedures. Stryker serves healthcare customers in the United States and internationally.

Founded in 1941 by orthopedic surgeon Dr.