Stryker Co. (NYSE:SYK) Shares Acquired by Cibc World Market Inc.

Cibc World Market Inc. lifted its holdings in shares of Stryker Co. (NYSE:SYK) by 7.1% during the 4th quarter, Holdings Channel reports. The firm owned 121,249 shares of the medical technology company’s stock after buying an additional 8,029 shares during the period. Cibc World Market Inc.’s holdings in Stryker were worth $43,656,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Dunhill Financial LLC raised its holdings in Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 37 shares in the last quarter. Darwin Wealth Management LLC purchased a new position in shares of Stryker during the third quarter worth approximately $36,000. Crews Bank & Trust purchased a new position in shares of Stryker during the fourth quarter worth approximately $39,000. HBW Advisory Services LLC purchased a new position in shares of Stryker during the third quarter worth approximately $42,000. Finally, Hara Capital LLC purchased a new position in Stryker in the 3rd quarter valued at $42,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Transactions at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now owns 100,027 shares in the company, valued at $36,879,954.90. This trade represents a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 5.90% of the company’s stock.

Stryker Stock Performance

Shares of Stryker stock opened at $390.48 on Friday. The firm has a fifty day moving average of $376.55 and a two-hundred day moving average of $362.18. The stock has a market capitalization of $148.86 billion, a price-to-earnings ratio of 50.32, a PEG ratio of 2.68 and a beta of 0.95. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.86% and a net margin of 13.25%. During the same quarter in the previous year, the firm posted $3.46 earnings per share. As a group, equities research analysts predict that Stryker Co. will post 13.53 EPS for the current year.

Stryker Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a $0.84 dividend. This is a boost from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 annualized dividend and a yield of 0.86%. The ex-dividend date of this dividend is Tuesday, December 31st. Stryker’s dividend payout ratio is currently 43.30%.

Analyst Ratings Changes

A number of research firms have commented on SYK. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a report on Thursday. Piper Sandler restated an “overweight” rating and issued a $420.00 price target (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Robert W. Baird boosted their target price on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Evercore ISI boosted their target price on Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Canaccord Genuity Group boosted their price target on Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a research report on Wednesday. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $416.40.

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.