Carnegie Investment Counsel Acquires 1,731 Shares of Stryker Co. (NYSE:SYK)

Carnegie Investment Counsel increased its holdings in Stryker Co. (NYSE:SYK - Free Report) by 1.5% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 114,184 shares of the medical technology company's stock after buying an additional 1,731 shares during the period. Stryker comprises approximately 1.2% of Carnegie Investment Counsel's holdings, making the stock its 16th biggest position. Carnegie Investment Counsel's holdings in Stryker were worth $41,112,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the business. Dale Q Rice Investment Management Ltd acquired a new position in Stryker in the fourth quarter valued at approximately $587,000. PFW Advisors LLC acquired a new position in Stryker during the 4th quarter valued at approximately $1,350,000. Parnassus Investments LLC bought a new position in Stryker during the 3rd quarter worth $762,798,000. Baltimore Washington Financial Advisors Inc. increased its position in Stryker by 2.4% in the third quarter. Baltimore Washington Financial Advisors Inc. now owns 66,681 shares of the medical technology company's stock worth $24,089,000 after buying an additional 1,554 shares during the period. Finally, Sivik Global Healthcare LLC lifted its stake in Stryker by 8.0% in the third quarter. Sivik Global Healthcare LLC now owns 27,000 shares of the medical technology company's stock valued at $9,754,000 after buying an additional 2,000 shares during the last quarter. Institutional investors own 77.09% of the company's stock.

Stryker Trading Up 0.6 %

Shares of NYSE:SYK traded up $2.12 during mid-day trading on Friday, hitting $383.91. The stock had a trading volume of 1,727,106 shares, compared to its average volume of 1,369,246. The company's 50 day moving average is $375.35 and its 200-day moving average is $358.48. Stryker Co. has a 12-month low of $307.23 and a 12-month high of $398.20. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. The company has a market cap of $146.35 billion, a PE ratio of 41.15, a P/E/G ratio of 2.51 and a beta of 0.95.

Stryker (NYSE:SYK - Get Free Report) last released its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The company had revenue of $5.49 billion during the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the prior year, the company earned $2.46 earnings per share. The company's revenue for the quarter was up 11.9% on a year-over-year basis. On average, sell-side analysts predict that Stryker Co. will post 12.06 EPS for the current year.

Stryker Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.88%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from Stryker's previous quarterly dividend of $0.80. Stryker's payout ratio is 36.01%.

Insider Transactions at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of the company's stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the transaction, the chief executive officer now directly owns 100,027 shares of the company's stock, valued at approximately $36,879,954.90. This represents a 36.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 5.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SYK shares. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a report on Tuesday, January 7th. Robert W. Baird raised their target price on shares of Stryker from $378.00 to $405.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their price target on shares of Stryker from $375.00 to $420.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 30th. Needham & Company LLC reiterated a "buy" rating and set a $442.00 price objective on shares of Stryker in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $425.00 target price on shares of Stryker in a research report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $405.80.

Stryker Company 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.