CIBC Private Wealth Group LLC Sells 19,887 Shares of Stryker Co. (NYSE:SYK)

CIBC Private Wealth Group LLC lowered its stake in Stryker Co. (NYSE:SYK) by 2.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 752,832 shares of the medical technology company’s stock after selling 19,887 shares during the quarter. CIBC Private Wealth Group LLC’s holdings in Stryker were worth $274,106,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Norges Bank purchased a new position in shares of Stryker in the fourth quarter worth $1,710,744,000. Raymond James Financial Inc. bought a new stake in Stryker in the 4th quarter worth $353,394,000. Proficio Capital Partners LLC increased its position in shares of Stryker by 52,520.8% in the fourth quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company’s stock valued at $214,660,000 after acquiring an additional 595,061 shares during the period. RTW Investments LP bought a new position in shares of Stryker during the third quarter valued at about $143,392,000. Finally, State Street Corp boosted its holdings in shares of Stryker by 2.2% during the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after purchasing an additional 316,404 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

SYK has been the topic of a number of research analyst reports. Argus set a $450.00 price target on Stryker in a report on Monday, February 3rd. JPMorgan Chase & Co. boosted their target price on Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Canaccord Genuity Group raised their price target on Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Wells Fargo & Company boosted their price objective on shares of Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Finally, Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and a consensus price target of $421.90.

Insiders Place Their Bets

In other Stryker news, Director Allan C. Golston sold 2,458 shares of the business’s 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 completion of the transaction, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the transaction, the director now owns 3,642,075 shares in the company, valued at $1,428,567,498. This represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 5.90% of the company’s stock.

Stryker Price Performance

Shares of NYSE:SYK opened at $364.38 on Friday. The company has a market capitalization of $139.08 billion, a PE ratio of 46.96, a PEG ratio of 2.93 and a beta of 0.95. The business has a fifty day moving average price of $384.08 and a 200-day moving average price of $374.32. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period in the previous year, the firm earned $3.46 earnings per share. As a group, equities analysts expect that Stryker Co. 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 Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.84 per share. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.92%. Stryker’s dividend payout ratio is 43.30%.

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.