Charles Carroll Financial Partners LLC Boosts Stake in Stryker Co. (NYSE:SYK)

Charles Carroll Financial Partners LLC increased its stake in shares of Stryker Co. (NYSE:SYK) by 20.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,530 shares of the medical technology company’s stock after purchasing an additional 760 shares during the period. Stryker makes up approximately 1.5% of Charles Carroll Financial Partners LLC’s investment portfolio, making the stock its 22nd largest position. Charles Carroll Financial Partners LLC’s holdings in Stryker were worth $1,356,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in SYK. First National Trust Co lifted its holdings in Stryker by 169.5% during the 4th quarter. First National Trust Co now owns 9,380 shares of the medical technology company’s stock worth $2,809,000 after buying an additional 5,900 shares in the last quarter. Royal Fund Management LLC lifted its holdings in Stryker by 4.3% during the 4th quarter. Royal Fund Management LLC now owns 7,952 shares of the medical technology company’s stock worth $2,381,000 after buying an additional 327 shares in the last quarter. AJOVista LLC acquired a new stake in Stryker during the 4th quarter worth approximately $129,000. Blue Fin Capital Inc. lifted its holdings in Stryker by 2.0% during the 4th quarter. Blue Fin Capital Inc. now owns 9,598 shares of the medical technology company’s stock worth $2,874,000 after buying an additional 185 shares in the last quarter. Finally, Legacy Financial Advisors Inc. acquired a new stake in Stryker during the 4th quarter worth approximately $227,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on SYK shares. Truist Financial increased their target price on shares of Stryker from $330.00 to $345.00 and gave the stock a “hold” rating in a report on Wednesday, January 31st. Canaccord Genuity Group upgraded shares of Stryker from a “hold” rating to a “buy” rating and raised their price objective for the company from $315.00 to $360.00 in a report on Wednesday, January 31st. Citigroup raised their price objective on shares of Stryker from $362.00 to $406.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. BTIG Research raised their price objective on shares of Stryker from $366.00 to $369.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Needham & Company LLC restated a “hold” rating on shares of Stryker in a report on Wednesday. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and an average price target of $365.94.

Stryker Stock Up 0.6 %

NYSE:SYK traded up $1.82 during midday trading on Friday, hitting $328.45. 1,589,424 shares of the company were exchanged, compared to its average volume of 1,415,127. The company has a fifty day simple moving average of $346.99 and a 200 day simple moving average of $317.29. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $361.41. The company has a current ratio of 1.71, a quick ratio of 0.97 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $125.12 billion, a PE ratio of 37.49, a price-to-earnings-growth ratio of 2.56 and a beta of 0.91.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. During the same period last year, the firm posted $2.14 EPS. Stryker’s revenue for the quarter was up 9.7% on a year-over-year basis. As a group, equities analysts anticipate that Stryker Co. will post 11.94 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 30th. Shareholders of record on Friday, March 29th were given a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a yield of 0.97%. The ex-dividend date was Wednesday, March 27th. Stryker’s payout ratio is currently 36.53%.

Insiders Place Their Bets

In other Stryker news, CAO William E. Berry, Jr. sold 7,690 shares of the firm’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the transaction, the chief accounting officer now directly owns 3,675 shares of the company’s stock, valued at approximately $1,317,414. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Ronda E. Stryker sold 201,146 shares of Stryker stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $342.90, for a total value of $68,972,963.40. Following the sale, the director now owns 3,755,128 shares of the company’s stock, valued at $1,287,633,391.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO William E. Berry, Jr. sold 7,690 shares of Stryker stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $358.48, for a total transaction of $2,756,711.20. Following the completion of the sale, the chief accounting officer now directly owns 3,675 shares in the company, valued at approximately $1,317,414. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

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.