Cibc World Market Inc. Sells 9,479 Shares of Stryker Corporation $SYK

Cibc World Market Inc. lessened its holdings in Stryker Corporation (NYSE:SYK) by 6.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm 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.

Other large investors have also recently made changes to their positions in the company. Mid American Wealth Advisory Group Inc. purchased a new position in Stryker in the second quarter worth about $26,000. Clayton Financial Group LLC bought a new stake in shares of Stryker during the third quarter valued at approximately $26,000. Elevation Point Wealth Partners LLC purchased a new position in Stryker in the 2nd quarter worth approximately $28,000. Kilter Group LLC purchased a new stake in Stryker during the 2nd quarter valued at $29,000. Finally, Howard Hughes Medical Institute bought a new stake in shares of Stryker in the 2nd quarter worth $29,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on SYK shares. Truist Financial reduced their price objective on Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a report on Thursday, December 18th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $435.00 price target on shares of Stryker in a research note on Friday, November 14th. TD Cowen downgraded shares of Stryker from a “buy” rating to a “hold” rating and set a $387.00 price objective on the stock. in a research report on Monday, January 26th. Wall Street Zen cut shares of Stryker from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Finally, The Goldman Sachs Group set a $399.00 target price on shares of Stryker in a research note on Friday, January 9th. Twelve equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Stryker has a consensus rating of “Moderate Buy” and an average price target of $426.94.

Stryker Stock Up 1.4%

Shares of SYK stock opened at $361.20 on Wednesday. The company’s fifty day simple moving average is $357.96 and its two-hundred day simple moving average is $369.88. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $404.87. The stock has a market cap of $138.13 billion, a P/E ratio of 43.00, a PEG ratio of 2.08 and a beta of 0.87. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, beating analysts’ consensus estimates of $4.40 by $0.07. The company had revenue of $7.17 billion during the quarter, compared to analyst estimates of $7.12 billion. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The firm’s revenue was up 11.4% on a year-over-year basis. During the same period in the prior year, the company earned $4.01 earnings per share. Analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

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

Insider Buying and Selling

In related news, CAO William E. Berry, Jr. sold 1,953 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $365.49, for a total transaction of $713,801.97. Following the sale, the chief accounting officer owned 2,833 shares of the company’s stock, valued at $1,035,433.17. This represents a 40.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ronda E. Stryker sold 250,000 shares of the stock in a transaction on 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 transaction, the director owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. This trade represents a 9.23% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 252,118 shares of company stock worth $91,504,172. Insiders own 5.20% of the company’s stock.

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.