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

CIBC Private Wealth Group LLC trimmed its position in Stryker Co. (NYSE:SYK - Free Report) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 752,832 shares of the medical technology company's stock after selling 19,887 shares during the period. CIBC Private Wealth Group LLC owned approximately 0.20% of Stryker worth $274,106,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of SYK. Chicago Capital LLC lifted its stake in Stryker by 3.1% in the 4th quarter. Chicago Capital LLC now owns 195,052 shares of the medical technology company's stock valued at $70,228,000 after acquiring an additional 5,841 shares in the last quarter. Zhang Financial LLC lifted its position in shares of Stryker by 55.0% in the fourth quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company's stock worth $41,366,000 after purchasing an additional 40,784 shares in the last quarter. Appleton Partners Inc. MA boosted its holdings in Stryker by 5.0% during the fourth quarter. Appleton Partners Inc. MA now owns 29,222 shares of the medical technology company's stock worth $10,521,000 after purchasing an additional 1,400 shares during the last quarter. Metis Global Partners LLC grew its position in Stryker by 10.2% in the fourth quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company's stock valued at $6,064,000 after purchasing an additional 1,561 shares in the last quarter. Finally, US Bancorp DE increased its stake in Stryker by 0.5% in the 4th quarter. US Bancorp DE now owns 182,825 shares of the medical technology company's stock valued at $65,829,000 after buying an additional 976 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Wells Fargo & Company raised their price objective on Stryker from $427.00 to $435.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. Needham & Company LLC reaffirmed a "buy" rating and set a $442.00 price target on shares of Stryker in a research report on Friday, March 21st. JPMorgan Chase & Co. increased their price objective on Stryker from $420.00 to $445.00 and gave the company an "overweight" rating in a report on Wednesday, January 29th. JMP Securities reissued a "market perform" rating on shares of Stryker in a research note on Tuesday, February 18th. Finally, Truist Financial upped their price target on shares of Stryker from $409.00 to $413.00 and gave the stock a "hold" rating in a research report on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat, Stryker has an average rating of "Moderate Buy" and a consensus target price of $421.90.

Stryker Price Performance

SYK stock traded down $8.91 during trading on Thursday, reaching $368.55. 1,678,478 shares of the company were exchanged, compared to its average volume of 1,298,544. 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 Co. has a twelve month low of $314.93 and a twelve month high of $406.19. The company has a market capitalization of $140.67 billion, a price-to-earnings ratio of 47.49, a P/E/G ratio of 2.93 and a beta of 0.95. The company has a 50-day moving average of $383.16 and a two-hundred day moving average of $374.45.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating analysts' consensus estimates 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 quarter last year, the business earned $3.46 EPS. As a group, equities analysts predict that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.84 per share. 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 payout ratio is currently 43.30%.

Insider Transactions at Stryker

In related news, Director Allan C. Golston sold 2,458 shares of the company's stock in a transaction that occurred on 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 directly owns 14,895 shares in the company, valued at $5,705,827.65. This represents a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of the business's stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the transaction, the director now owns 3,642,075 shares in the company, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their position. The disclosure for this sale can be found here. 5.50% of the stock is owned by company insiders.

About Stryker

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.