Cibc World Markets Corp Has $29.97 Million Stake in Stryker Co. (NYSE:SYK)

Cibc World Markets Corp boosted its holdings in shares of Stryker Co. (NYSE:SYK) by 78.9% in the fourth quarter, HoldingsChannel reports. The firm owned 83,234 shares of the medical technology company’s stock after acquiring an additional 36,704 shares during the period. Cibc World Markets Corp’s holdings in Stryker were worth $29,968,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SYK. Kohmann Bosshard Financial Services LLC acquired a new stake in shares of Stryker in the 4th quarter valued at $25,000. Dunhill Financial LLC increased its stake in shares of Stryker by 94.9% in the 3rd 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. increased its stake in shares of Stryker by 618.2% in the 4th 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 acquired a new stake in shares of Stryker in the 4th quarter valued at $30,000. Finally, BankPlus Trust Department acquired a new stake in shares of Stryker in the 4th quarter valued at $33,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Stock Performance

SYK stock opened at $369.96 on Monday. The business’s 50-day moving average price is $383.04 and its two-hundred day moving average price is $373.60. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm has a market cap of $141.17 billion, a PE ratio of 47.68, a P/E/G ratio of 2.93 and a beta of 0.95. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19.

Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the prior year, the business posted $3.46 EPS. As a group, research analysts forecast that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio is 43.30%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Argus set a $450.00 target price on Stryker in a research note on Monday, February 3rd. Canaccord Genuity Group lifted their target price on Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Needham & Company LLC reissued a “buy” rating and issued a $442.00 target price on shares of Stryker in a research note on Wednesday, January 29th. Barclays raised their price target on Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Finally, Stifel Nicolaus raised their price target on Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $421.90.

Insider Buying and Selling at Stryker

In related news, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $383.07, for a total value of $941,586.06. Following the sale, the director now owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. The trade was a 14.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction dated Friday, January 31st. The shares were 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 in the company, 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. Company insiders own 5.90% of the company’s stock.

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.