CIBC Private Wealth Group LLC Sells 10,356 Shares of Stryker Corporation $SYK

CIBC Private Wealth Group LLC decreased its position in shares of Stryker Corporation (NYSE:SYK) by 1.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 882,835 shares of the medical technology company’s stock after selling 10,356 shares during the period. CIBC Private Wealth Group LLC owned approximately 0.23% of Stryker worth $326,357,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Clayton Financial Group LLC bought a new position in Stryker during the third quarter valued at approximately $26,000. Elevation Point Wealth Partners LLC bought a new stake in Stryker in the 2nd quarter worth approximately $28,000. Kilter Group LLC bought a new stake in Stryker in the 2nd quarter worth approximately $29,000. Howard Hughes Medical Institute purchased a new stake in shares of Stryker during the 2nd quarter worth approximately $29,000. Finally, United Financial Planning Group LLC bought a new position in shares of Stryker during the 3rd quarter valued at approximately $27,000. 77.09% of the stock is owned by institutional investors.

Stryker Stock Performance

NYSE SYK opened at $349.19 on Wednesday. The business’s 50 day moving average price is $364.88 and its 200-day moving average price is $366.76. Stryker Corporation has a fifty-two week low of $328.23 and a fifty-two week high of $404.87. The company has a market cap of $133.63 billion, a P/E ratio of 41.57, a P/E/G ratio of 2.04 and a beta of 0.85. 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 (NYSE:SYK) last issued its quarterly earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share (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 return on equity of 24.41% and a net margin of 12.92%.Stryker’s revenue was up 11.4% on a year-over-year basis. During the same period last year, the company earned $4.01 earnings per share. Sell-side analysts predict that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Tuesday, March 31st will be issued a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. The ex-dividend date is Tuesday, March 31st. Stryker’s dividend payout ratio (DPR) is 41.90%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on SYK shares. Barclays reissued an “overweight” rating and issued a $469.00 target price on shares of Stryker in a report on Monday, February 2nd. Jefferies Financial Group reiterated a “buy” rating and set a $465.00 price objective on shares of Stryker in a research report on Wednesday, March 4th. William Blair reissued an “outperform” rating on shares of Stryker in a research note on Thursday, March 5th. BTIG Research boosted their target price on shares of Stryker from $410.00 to $412.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Finally, Needham & Company LLC upped their target price on shares of Stryker from $448.00 to $454.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Fourteen research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $427.50.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 250,000 shares of Stryker stock in a transaction dated Wednesday, February 4th. The shares were 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 of the company’s stock, valued at approximately $891,814,566.52. The trade was a 9.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 5.20% of the company’s stock.

About Stryker

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.