CIBC World Markets Inc. cut its holdings in Stryker Co. (NYSE:SYK) by 53.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,231 shares of the medical technology company’s stock after selling 11,962 shares during the period. CIBC World Markets Inc.’s holdings in Stryker were worth $1,646,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of SYK. HC Financial Advisors Inc. purchased a new position in Stryker in the 4th quarter worth approximately $1,197,000. Barometer Capital Management Inc. lifted its holdings in Stryker by 10.4% in the 4th quarter. Barometer Capital Management Inc. now owns 8,500 shares of the medical technology company’s stock worth $1,316,000 after purchasing an additional 800 shares in the last quarter. King Luther Capital Management Corp purchased a new position in Stryker in the 4th quarter worth approximately $3,189,000. Buckingham Asset Management LLC purchased a new position in Stryker in the 4th quarter worth approximately $231,000. Finally, Wade G W & Inc. raised its holdings in shares of Stryker by 64.3% during the 4th quarter. Wade G W & Inc. now owns 3,374 shares of the medical technology company’s stock worth $522,000 after acquiring an additional 1,320 shares in the last quarter. 74.92% of the stock is currently owned by institutional investors.
Several analysts have recently issued reports on SYK shares. ValuEngine raised Stryker from a “hold” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research cut Stryker from a “buy” rating to a “hold” rating in a report on Thursday, May 24th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $170.00 price objective on shares of Stryker in a report on Wednesday, June 13th. BMO Capital Markets upped their price objective on Stryker to $170.00 and gave the stock a “market perform” rating in a report on Friday, April 27th. They noted that the move was a valuation call. Finally, Stifel Nicolaus upped their price objective on Stryker from $183.00 to $187.00 and gave the stock a “buy” rating in a report on Friday, April 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $171.95.
NYSE SYK opened at $169.16 on Thursday. The company has a market cap of $63.64 billion, a PE ratio of 26.06, a P/E/G ratio of 2.42 and a beta of 0.71. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.08 and a current ratio of 1.64. Stryker Co. has a fifty-two week low of $137.70 and a fifty-two week high of $179.84.
Stryker (NYSE:SYK) last released its earnings results on Thursday, April 26th. The medical technology company reported $1.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.60 by $0.08. The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.20 billion. Stryker had a return on equity of 25.65% and a net margin of 8.00%. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.48 EPS. equities analysts expect that Stryker Co. will post 7.23 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 31st. Stockholders of record on Friday, June 29th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Thursday, June 28th. Stryker’s dividend payout ratio is currently 28.97%.
In other Stryker news, CFO Glenn S. Boehnlein sold 750 shares of the company’s stock in a transaction on Monday, April 16th. The stock was sold at an average price of $160.00, for a total value of $120,000.00. Following the transaction, the chief financial officer now owns 3,535 shares of the company’s stock, valued at approximately $565,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lonny J. Carpenter sold 5,000 shares of the company’s stock in a transaction on Friday, May 4th. The shares were sold at an average price of $166.42, for a total value of $832,100.00. Following the completion of the transaction, the insider now directly owns 101,675 shares in the company, valued at approximately $16,920,753.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,401 shares of company stock worth $1,389,515. Corporate insiders own 7.30% of the company’s stock.
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 devices for use in various medical specialties.
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