Carnegie Investment Counsel Has $72.99 Million Holdings in Stryker Corporation (NYSE:SYK)

Carnegie Investment Counsel boosted its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 79.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 204,544 shares of the medical technology company's stock after buying an additional 90,360 shares during the period. Stryker comprises 1.7% of Carnegie Investment Counsel's portfolio, making the stock its 10th largest holding. Carnegie Investment Counsel owned approximately 0.05% of Stryker worth $72,988,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in SYK. Norges Bank bought a new stake in shares of Stryker in the 4th quarter valued at about $1,710,744,000. GAMMA Investing LLC grew its position in shares of Stryker by 43,226.8% in the 1st quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock valued at $772,390,000 after purchasing an additional 2,070,133 shares during the period. FMR LLC grew its position in shares of Stryker by 10.0% in the 4th quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock valued at $2,892,946,000 after purchasing an additional 727,850 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Stryker in the 4th quarter valued at approximately $154,140,000. Finally, Northern Trust Corp grew its position in shares of Stryker by 13.2% in the 4th quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company's stock valued at $1,298,426,000 after purchasing an additional 420,153 shares during the period. 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 research analyst reports. Citigroup reiterated a "buy" rating and issued a $455.00 price objective (up from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Evercore ISI upped their price target on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Sanford C. Bernstein set a $450.00 price objective on Stryker in a research note on Monday, May 5th. Roth Mkm upped their price objective on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. Finally, Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a research note on Friday, July 18th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Stryker has a consensus rating of "Moderate Buy" and a consensus price target of $428.55.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the completion of the transaction, the director owned 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 5.90% of the company's stock.

Stryker Price Performance

Shares of Stryker stock traded up $6.68 during trading on Friday, hitting $403.34. 963,567 shares of the stock traded hands, compared to its average volume of 1,155,846. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. The stock has a market cap of $153.95 billion, a price-to-earnings ratio of 54.51, a PEG ratio of 2.99 and a beta of 0.91. The firm's fifty day moving average is $386.37 and its 200-day moving average is $379.33. Stryker Corporation has a 52 week low of $314.93 and a 52 week high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping the consensus estimate of $2.73 by $0.11. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The business had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.68 billion. During the same quarter last year, the business posted $2.50 EPS. The business's revenue was up 11.9% on a year-over-year basis. Research analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Monday, June 30th. Stryker's payout ratio is 45.41%.

Stryker 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.