Carnegie Lake Advisors LLC Sells 131 Shares of Stryker Co. (NYSE:SYK)

Carnegie Lake Advisors LLC lowered its stake in shares of Stryker Co. (NYSE:SYK) by 0.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,304 shares of the medical technology company’s stock after selling 131 shares during the quarter. Stryker comprises about 4.0% of Carnegie Lake Advisors LLC’s holdings, making the stock its 5th largest position. Carnegie Lake Advisors LLC’s holdings in Stryker were worth $9,831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Dunhill Financial LLC lifted its stake in shares of Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after purchasing an additional 37 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in Stryker in the third quarter valued at approximately $36,000. Activest Wealth Management acquired a new position in Stryker during the fourth quarter valued at approximately $36,000. Crews Bank & Trust purchased a new stake in Stryker during the fourth quarter worth approximately $39,000. Finally, Hara Capital LLC acquired a new stake in shares of Stryker in the third quarter worth $42,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the sale, the director now owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

SYK has been the topic of several recent research reports. Canaccord Genuity Group lifted their target price on shares of Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Royal Bank of Canada upped their target price on Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. Piper Sandler reiterated an “overweight” rating and set a $420.00 target price (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Citigroup upped their price target on Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Finally, Barclays lifted their price objective on shares of Stryker from $418.00 to $443.00 and gave the company an “overweight” rating in a research note on Monday. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $420.68.

Stryker Stock Performance

SYK stock opened at $392.15 on Tuesday. The firm has a market cap of $149.50 billion, a P/E ratio of 50.53, a P/E/G ratio of 2.98 and a beta of 0.96. The stock’s 50 day simple moving average is $377.23 and its 200 day simple moving average is $365.14. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period last year, the firm posted $3.46 earnings per share. As a group, equities research analysts predict that Stryker Co. will post 13.49 EPS for the current year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s payout ratio is 43.30%.

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.