Carnegie Investment Counsel Boosts Stake in Stryker Corporation $SYK

Key Points

• Carnegie Investment Counsel increased its stake in Stryker by 5.3% in Q4 to 221,859 shares (about $77.98M), making SYK its 12th-largest holding and roughly 1.4% of the firm's portfolio.
• Director Ronda E. Stryker sold 250,000 shares at an average price of $362.92 (≈$90.73M), cutting her ownership by 9.23%; insiders now hold about 4.60% of the company.
• Stryker beat quarterly expectations with EPS $4.47 vs $4.40 and revenue $7.17B (+11.4% YoY), and announced a quarterly dividend of $0.88 (annualized $3.52, ~1.0% yield).

Carnegie Investment Counsel raised its position in Stryker Corporation (NYSE:SYK - Free Report) by 5.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 221,859 shares of the medical technology company's stock after purchasing an additional 11,133 shares during the quarter. Stryker accounts for approximately 1.4% of Carnegie Investment Counsel's holdings, making the stock its 12th biggest holding. Carnegie Investment Counsel owned approximately 0.06% of Stryker worth $77,977,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of SYK. Brighton Jones LLC increased its position in shares of Stryker by 15.4% during the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock worth $1,643,000 after acquiring an additional 609 shares during the period. Schnieders Capital Management LLC. purchased a new position in shares of Stryker during the second quarter worth approximately $205,000. Marshall Wace LLP increased its position in shares of Stryker by 107.9% during the second quarter. Marshall Wace LLP now owns 5,700 shares of the medical technology company's stock worth $2,255,000 after acquiring an additional 77,831 shares during the period. NewEdge Advisors LLC increased its position in shares of Stryker by 7.7% during the second quarter. NewEdge Advisors LLC now owns 28,477 shares of the medical technology company's stock worth $11,266,000 after acquiring an additional 2,037 shares during the period. Finally, Nebula Research & Development LLC purchased a new position in shares of Stryker during the second quarter worth approximately $219,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the sale, the director directly owned 2,457,331 shares in the company, valued at $891,814,566.52. This trade represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.60% of the stock is currently owned by company insiders.

Stryker Stock Performance

Shares of SYK stock opened at $339.32 on Friday. The firm has a market cap of $129.96 billion, a price-to-earnings ratio of 40.40, a PEG ratio of 1.98 and a beta of 0.92. The company's 50 day moving average is $354.87 and its 200 day moving average is $360.55. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66. Stryker Corporation has a 52-week low of $319.32 and a 52-week high of $404.87.

Stryker (NYSE:SYK - Get Free Report) last announced its earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, beating the consensus estimate of $4.40 by $0.07. The company had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. Stryker's revenue was up 11.4% compared to the same quarter last year. During the same period last year, the firm earned $4.01 earnings per share. On average, sell-side analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be paid a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Stryker's dividend payout ratio (DPR) is 41.90%.

Wall Street Analyst Weigh In

SYK has been the topic of a number of research reports. Piper Sandler reaffirmed an "overweight" rating on shares of Stryker in a research report on Tuesday, January 27th. 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. Evercore set a $390.00 price objective on shares of Stryker in a report on Monday, January 5th. Wall Street Zen raised shares of Stryker from a "hold" rating to a "buy" rating in a report on Saturday, February 21st. Finally, Needham & Company LLC lifted their price objective on shares of Stryker from $448.00 to $454.00 and gave the company a "buy" rating in a report on Friday, January 30th. Fourteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $423.22.

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.

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