CIBC Private Wealth Group LLC Grows Position in Stryker Co. (NYSE:SYK)

CIBC Private Wealth Group LLC boosted its stake in shares of Stryker Co. (NYSE:SYK) by 0.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,159,273 shares of the medical technology company’s stock after purchasing an additional 8,499 shares during the period. CIBC Private Wealth Group LLC owned approximately 0.31% of Stryker worth $282,375,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Stryker in the 4th quarter valued at $811,698,000. FMR LLC boosted its holdings in shares of Stryker by 246.1% in the 4th quarter. FMR LLC now owns 4,189,778 shares of the medical technology company’s stock valued at $1,026,663,000 after acquiring an additional 2,979,131 shares during the last quarter. FIL Ltd boosted its holdings in shares of Stryker by 98.9% in the 4th quarter. FIL Ltd now owns 832,585 shares of the medical technology company’s stock valued at $204,017,000 after acquiring an additional 413,950 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Stryker by 1.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 29,889,733 shares of the medical technology company’s stock valued at $7,318,132,000 after acquiring an additional 364,668 shares during the last quarter. Finally, Fundsmith LLP boosted its holdings in shares of Stryker by 5.7% in the 4th quarter. Fundsmith LLP now owns 6,634,893 shares of the medical technology company’s stock valued at $1,625,814,000 after acquiring an additional 357,755 shares during the last quarter. 72.31% of the stock is currently owned by institutional investors.

Shares of NYSE SYK traded down $1.53 during mid-day trading on Friday, reaching $255.13. The company’s stock had a trading volume of 6,867 shares, compared to its average volume of 1,178,860. The business has a 50-day simple moving average of $254.74. The firm has a market cap of $96.12 billion, a PE ratio of 69.56, a P/E/G ratio of 2.92 and a beta of 0.96. The company has a quick ratio of 1.39, a current ratio of 2.27 and a debt-to-equity ratio of 0.97. Stryker Co. has a 1-year low of $171.75 and a 1-year high of $268.04.

Stryker (NYSE:SYK) last issued its earnings results on Monday, April 26th. The medical technology company reported $1.93 EPS for the quarter, missing the Zacks’ consensus estimate of $1.99 by ($0.06). Stryker had a net margin of 9.57% and a return on equity of 21.90%. The business had revenue of $3.95 billion during the quarter, compared to analyst estimates of $3.94 billion. During the same quarter last year, the company earned $1.84 earnings per share. Stryker’s quarterly revenue was up 10.2% on a year-over-year basis. As a group, equities analysts predict that Stryker Co. will post 9.17 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 30th. Investors of record on Wednesday, June 30th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 0.99%. The ex-dividend date is Tuesday, June 29th. Stryker’s dividend payout ratio is currently 33.92%.

Several equities analysts recently issued reports on SYK shares. Wells Fargo & Company boosted their target price on shares of Stryker from $265.00 to $300.00 and gave the company an “overweight” rating in a research note on Wednesday, April 28th. Cowen boosted their target price on shares of Stryker from $255.00 to $279.00 and gave the company an “outperform” rating in a research note on Wednesday, April 28th. Oppenheimer boosted their target price on shares of Stryker from $240.00 to $273.00 in a research note on Wednesday, April 28th. Morgan Stanley boosted their target price on shares of Stryker from $265.00 to $280.00 and gave the company an “overweight” rating in a research note on Wednesday, April 28th. Finally, Truist Securities boosted their target price on shares of Stryker from $245.00 to $255.00 in a research note on Wednesday, April 28th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $268.18.

In related news, VP M Kathryn Fink sold 4,000 shares of the company’s stock in a transaction dated Thursday, April 8th. The shares were sold at an average price of $250.00, for a total value of $1,000,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Kevin Lobo sold 107,795 shares of the company’s stock in a transaction dated Tuesday, May 4th. The shares were sold at an average price of $255.79, for a total transaction of $27,572,883.05. The disclosure for this sale can be found here. Corporate insiders own 6.70% of the company’s stock.

Stryker Profile

Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical device products that are used in various medical specialties.

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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