CIBC Private Wealth Group LLC Decreases Stake in Stryker Co. (NYSE:SYK)

CIBC Private Wealth Group LLC lessened its holdings in Stryker Co. (NYSE:SYK) by 2.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 752,832 shares of the medical technology company’s stock after selling 19,887 shares during the period. CIBC Private Wealth Group LLC owned approximately 0.20% of Stryker worth $274,106,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SYK. Kohmann Bosshard Financial Services LLC purchased a new position in Stryker in the fourth quarter worth $25,000. Dunhill Financial LLC grew its position in Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after buying an additional 37 shares during the period. Rakuten Securities Inc. grew its position in Stryker by 618.2% during the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock valued at $28,000 after buying an additional 68 shares during the period. Centricity Wealth Management LLC purchased a new stake in Stryker during the fourth quarter worth about $30,000. Finally, BankPlus Trust Department bought a new stake in Stryker in the fourth quarter worth about $33,000. 77.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently issued reports on SYK. Royal Bank of Canada raised their price target on shares of Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. Canaccord Genuity Group raised their target price on Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Truist Financial upped their price target on Stryker from $409.00 to $413.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Morgan Stanley raised Stryker from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $370.00 to $445.00 in a report on Monday, December 2nd. Finally, Argus set a $450.00 price objective on shares of Stryker in a report on Monday, February 3rd. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Stryker has a consensus rating of “Moderate Buy” and a consensus price target of $421.90.

Stryker Price Performance

NYSE:SYK opened at $364.38 on Friday. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19. The stock has a fifty day moving average of $384.08 and a 200 day moving average of $374.32. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The firm has a market capitalization of $139.08 billion, a price-to-earnings ratio of 46.96, a P/E/G ratio of 2.93 and a beta of 0.95.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter in the prior year, the firm posted $3.46 earnings per share. On average, research analysts expect that Stryker Co. will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is currently 43.30%.

Insider Transactions at Stryker

In related news, Director Allan C. Golston sold 2,458 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total transaction of $941,586.06. Following the transaction, the director now directly owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the sale, the director now directly owns 3,642,075 shares of the company’s stock, valued at approximately $1,428,567,498. This represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

About Stryker

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.