Cibc World Market Inc. Reduces Holdings in Stryker Corporation $SYK

Cibc World Market Inc. decreased its position in shares of Stryker Corporation (NYSE:SYK) by 6.3% during the third quarter, HoldingsChannel reports. The fund owned 141,032 shares of the medical technology company’s stock after selling 9,479 shares during the quarter. Cibc World Market Inc.’s holdings in Stryker were worth $52,135,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Princeton Global Asset Management LLC lifted its stake in Stryker by 16.9% in the second quarter. Princeton Global Asset Management LLC now owns 180 shares of the medical technology company’s stock worth $71,000 after purchasing an additional 26 shares during the last quarter. Kovack Advisors Inc. raised its holdings in shares of Stryker by 3.6% in the second quarter. Kovack Advisors Inc. now owns 771 shares of the medical technology company’s stock worth $305,000 after buying an additional 27 shares during the period. Armstrong Advisory Group Inc. lifted its stake in shares of Stryker by 12.3% during the 3rd quarter. Armstrong Advisory Group Inc. now owns 247 shares of the medical technology company’s stock worth $91,000 after acquiring an additional 27 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in Stryker by 1.4% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,904 shares of the medical technology company’s stock valued at $704,000 after acquiring an additional 27 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC boosted its holdings in Stryker by 3.9% during the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 745 shares of the medical technology company’s stock valued at $275,000 after acquiring an additional 28 shares during the period. Institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

NYSE SYK opened at $361.20 on Wednesday. The company has a market cap of $138.13 billion, a PE ratio of 43.00, a P/E/G ratio of 2.08 and a beta of 0.87. The firm’s 50 day moving average price is $357.96 and its 200-day moving average price is $369.88. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.21 and a current ratio of 1.89. Stryker Corporation has a 52-week low of $329.16 and a 52-week high of $404.87.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, topping analysts’ consensus estimates of $4.40 by $0.07. The company had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. Stryker’s revenue for the quarter was up 11.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $4.01 earnings per share. Sell-side analysts forecast that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Stryker’s dividend payout ratio is 41.90%.

Insider Activity at Stryker

In other news, CAO William E. Berry, Jr. sold 1,953 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $365.49, for a total value of $713,801.97. Following the sale, the chief accounting officer directly owned 2,833 shares in the company, valued at approximately $1,035,433.17. This trade represents a 40.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ronda E. Stryker sold 250,000 shares of Stryker stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the completion of the transaction, the director directly owned 2,457,331 shares in the company, valued at approximately $891,814,566.52. The trade was a 9.23% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 252,118 shares of company stock valued at $91,504,172 over the last quarter. 5.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

SYK has been the topic of a number of recent analyst reports. Citizens Jmp upgraded Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 target price on the stock in a research note on Friday, December 19th. Evercore set a $390.00 price target on shares of Stryker in a research note on Monday, January 5th. Sanford C. Bernstein boosted their price objective on shares of Stryker from $450.00 to $465.00 and gave the company an “outperform” rating in a research report on Friday, January 9th. TD Cowen downgraded shares of Stryker from a “buy” rating to a “hold” rating and set a $387.00 target price on the stock. in a research note on Monday, January 26th. Finally, Truist Financial decreased their price target on shares of Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a research note on Thursday, December 18th. Twelve analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Stryker currently has an average rating of “Moderate Buy” and an average target price of $426.94.

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.