Stryker Corporation $SYK Position Boosted by Carnegie Investment Counsel

Key Points

• Carnegie Investment Counsel increased its Stryker stake by 9.5% in the first quarter, adding 21,122 shares to reach 242,981 shares valued at about $77.97 million.
• Stryker shares rose 0.8% to $329.86, while the company reported Q1 earnings below expectations with EPS of $2.60 versus $2.98 estimated and revenue of $6.02 billion versus $6.34 billion expected.
• The company declared a quarterly dividend of $0.88 per share, and analysts currently have a consensus rating of “Moderate Buy” with an average price target of $392.87.

Carnegie Investment Counsel boosted its holdings in Stryker Corporation (NYSE:SYK - Free Report) by 9.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 242,981 shares of the medical technology company's stock after purchasing an additional 21,122 shares during the period. Stryker makes up 1.5% of Carnegie Investment Counsel's portfolio, making the stock its 10th largest position. Carnegie Investment Counsel owned 0.06% of Stryker worth $77,973,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. VanderPol Investments L.L.C. lifted its stake in shares of Stryker by 1.4% in the 4th quarter. VanderPol Investments L.L.C. now owns 2,084 shares of the medical technology company's stock valued at $732,000 after acquiring an additional 28 shares during the last quarter. KCM Investment Advisors LLC increased its stake in Stryker by 1.5% in the 4th quarter. KCM Investment Advisors LLC now owns 1,857 shares of the medical technology company's stock worth $653,000 after purchasing an additional 28 shares during the period. Rossby Financial LCC increased its stake in Stryker by 6.6% in the 4th quarter. Rossby Financial LCC now owns 451 shares of the medical technology company's stock worth $159,000 after purchasing an additional 28 shares during the period. Tcfg Wealth Management LLC lifted its position in Stryker by 2.7% in the third quarter. Tcfg Wealth Management LLC now owns 1,091 shares of the medical technology company's stock valued at $403,000 after purchasing an additional 29 shares during the last quarter. Finally, Mechanics Financial Corp grew its holdings in shares of Stryker by 1.2% in the fourth quarter. Mechanics Financial Corp now owns 2,458 shares of the medical technology company's stock worth $864,000 after purchasing an additional 30 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Trading Up 0.8%

NYSE SYK traded up $2.75 during trading on Friday, hitting $329.86. The company had a trading volume of 2,724,614 shares, compared to its average volume of 2,471,298. The company's fifty day moving average is $310.12 and its 200-day moving average is $337.97. Stryker Corporation has a one year low of $281.00 and a one year high of $404.87. The company has a current ratio of 2.11, a quick ratio of 1.25 and a debt-to-equity ratio of 0.62. The company has a market cap of $126.46 billion, a price-to-earnings ratio of 38.18, a price-to-earnings-growth ratio of 2.11 and a beta of 0.77.

Stryker (NYSE:SYK - Get Free Report) last announced its earnings results on Thursday, April 30th. The medical technology company reported $2.60 earnings per share for the quarter, missing analysts' consensus estimates of $2.98 by ($0.38). Stryker had a net margin of 13.20% and a return on equity of 23.42%. The company had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $6.34 billion. During the same period in the previous year, the firm posted $2.84 EPS. The company's revenue for the quarter was up 2.6% on a year-over-year basis. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. On average, sell-side analysts predict that Stryker Corporation will post 14.98 earnings per share for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.88 per share. The ex-dividend date is Tuesday, June 30th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.1%. Stryker's dividend payout ratio is 40.74%.

Analysts Set New Price Targets

A number of research firms recently commented on SYK. Sanford C. Bernstein set a $410.00 price target on shares of Stryker in a report on Friday, May 1st. Citigroup lowered their price objective on shares of Stryker from $420.00 to $385.00 and set a "buy" rating for the company in a research note on Tuesday, April 7th. BMO Capital Markets started coverage on Stryker in a research note on Wednesday. They issued an "outperform" rating and a $369.00 target price on the stock. Canaccord Genuity Group lowered their price target on Stryker from $435.00 to $400.00 and set a "buy" rating for the company in a research report on Friday, May 1st. Finally, JPMorgan Chase & Co. dropped their price objective on Stryker from $445.00 to $400.00 and set an "overweight" rating for the company in a report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $392.87.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 310,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $312.23, for a total value of $96,791,300.00. Following the completion of the transaction, the director owned 1,924,880 shares in the company, valued at $601,005,282.40. This trade represents a 13.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Robert S. Fletcher sold 4,544 shares of Stryker stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $306.87, for a total value of $1,394,417.28. Following the sale, the vice president owned 10,582 shares in the company, valued at $3,247,298.34. This represents a 30.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 323,264 shares of company stock valued at $100,659,489. Corporate insiders own 4.60% of the company's stock.

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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