CIBC Asset Management Inc Increases Stake in Stryker Co. (NYSE:SYK)

CIBC Asset Management Inc raised its position in shares of Stryker Co. (NYSE:SYK - Free Report) by 7.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 62,985 shares of the medical technology company's stock after buying an additional 4,594 shares during the period. CIBC Asset Management Inc's holdings in Stryker were worth $22,754,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Lord Abbett & CO. LLC lifted its stake in Stryker by 5.0% in the first quarter. Lord Abbett & CO. LLC now owns 821 shares of the medical technology company's stock worth $294,000 after acquiring an additional 39 shares during the period. Nwam LLC boosted its stake in shares of Stryker by 2.1% during the 1st quarter. Nwam LLC now owns 2,214 shares of the medical technology company's stock valued at $740,000 after purchasing an additional 46 shares in the last quarter. Tocqueville Asset Management L.P. increased its position in shares of Stryker by 6.2% during the first quarter. Tocqueville Asset Management L.P. now owns 2,222 shares of the medical technology company's stock valued at $795,000 after buying an additional 130 shares during the period. M&G Plc purchased a new stake in Stryker in the first quarter worth about $11,534,000. Finally, First Foundation Advisors boosted its position in Stryker by 49.6% during the 1st quarter. First Foundation Advisors now owns 1,343 shares of the medical technology company's stock valued at $481,000 after acquiring an additional 445 shares in the last quarter. Institutional investors own 77.09% of the company's stock.

Insider Transactions at Stryker

In related news, insider Viju Menon sold 600 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares of the company's stock, valued at approximately $3,219,495. This represents a 6.21 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP M Kathryn Fink sold 2,121 shares of Stryker stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the transaction, the vice president now directly owns 10,042 shares in the company, valued at $3,715,540. This represents a 17.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 67,381 shares of company stock worth $24,825,275 in the last 90 days. 5.90% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Robert W. Baird raised their target price on Stryker from $378.00 to $405.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Piper Sandler restated an "overweight" rating and set a $420.00 target price (up previously from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Canaccord Genuity Group lifted their price target on shares of Stryker from $360.00 to $400.00 and gave the company a "buy" rating in a research report on Wednesday, October 30th. Wolfe Research assumed coverage on shares of Stryker in a research note on Tuesday, September 10th. They set an "outperform" rating and a $405.00 target price for the company. Finally, Truist Financial lifted their target price on shares of Stryker from $370.00 to $380.00 and gave the company a "hold" rating in a report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $393.65.

Stryker Stock Performance

Shares of NYSE SYK traded up $6.80 during midday trading on Friday, hitting $390.08. 2,874,077 shares of the stock traded hands, compared to its average volume of 1,335,082. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.22 and a current ratio of 1.91. Stryker Co. has a one year low of $282.35 and a one year high of $392.70. The firm has a market capitalization of $148.71 billion, a P/E ratio of 41.81, a PEG ratio of 2.89 and a beta of 0.91. The firm has a 50-day moving average of $364.07 and a two-hundred day moving average of $347.33.

Stryker (NYSE:SYK - Get Free Report) last announced its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The business had revenue of $5.49 billion for the quarter, compared to analysts' expectations of $5.37 billion. During the same period last year, the firm posted $2.46 earnings per share. The business's revenue for the quarter was up 11.9% on a year-over-year basis. On average, equities analysts forecast that Stryker Co. will post 12.06 EPS for the current fiscal year.

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.