47,466 Shares in Stryker Corporation $SYK Purchased by CIBC Bancorp USA Inc.

Key Points

• CIBC Bancorp USA acquired a new position of 47,466 shares of Stryker (NYSE:SYK) in the third quarter, valued at about $17.55 million.
• Stryker director Ronda E. Stryker sold 250,000 shares on Feb. 4 at an average price of $362.92 for roughly $90.73 million, reducing her stake; insiders now own about 5.9% of the company.
• Stryker beat quarterly estimates with EPS $4.47 (vs. $4.40) and revenue of $7.17B (up 11.4% YoY), and declared a quarterly dividend of $0.88 (annualized $3.52, ~1.0% yield) payable April 30.

CIBC Bancorp USA Inc. acquired a new position in shares of Stryker Corporation (NYSE:SYK - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund acquired 47,466 shares of the medical technology company's stock, valued at approximately $17,547,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Armstrong Advisory Group Inc. boosted its stake in shares of Stryker by 12.3% in the third quarter. Armstrong Advisory Group Inc. now owns 247 shares of the medical technology company's stock worth $91,000 after acquiring an additional 27 shares during the last quarter. Venturi Wealth Management LLC lifted its holdings in Stryker by 1.4% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,904 shares of the medical technology company's stock valued at $704,000 after purchasing an additional 27 shares in the last quarter. Patriot Financial Group Insurance Agency LLC lifted its holdings in Stryker by 3.9% in the 3rd quarter. Patriot Financial Group Insurance Agency LLC now owns 745 shares of the medical technology company's stock valued at $275,000 after purchasing an additional 28 shares in the last quarter. Wolff Wiese Magana LLC boosted its stake in Stryker by 2.3% during the 3rd quarter. Wolff Wiese Magana LLC now owns 1,271 shares of the medical technology company's stock worth $470,000 after purchasing an additional 28 shares during the last quarter. Finally, Enterprise Financial Services Corp grew its holdings in shares of Stryker by 4.3% during the second quarter. Enterprise Financial Services Corp now owns 705 shares of the medical technology company's stock worth $279,000 after buying an additional 29 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company's stock.

Stryker Price Performance

Stryker stock opened at $339.97 on Friday. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66. The company has a 50-day moving average price of $363.89 and a 200 day moving average price of $366.43. Stryker Corporation has a 12-month low of $328.23 and a 12-month high of $404.87. The stock has a market cap of $130.10 billion, a P/E ratio of 40.47, a PEG ratio of 2.02 and a beta of 0.85.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, beating the consensus estimate of $4.40 by $0.07. The company had revenue of $7.17 billion for the quarter, compared to analyst estimates of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. Stryker's revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the business posted $4.01 EPS. Sell-side analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Tuesday, March 31st will be issued a $0.88 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $3.52 dividend on an annualized basis and a yield of 1.0%. Stryker's dividend payout ratio is currently 41.90%.

Analysts Set New Price Targets

SYK has been the subject of a number of recent research reports. Barclays reiterated an "overweight" rating and issued a $469.00 target price on shares of Stryker in a research report on Monday, February 2nd. Citigroup reaffirmed a "market outperform" rating on shares of Stryker in a research note on Friday, January 30th. Needham & Company LLC increased their price objective on shares of Stryker from $448.00 to $454.00 and gave the company a "buy" rating in a report on Friday, January 30th. William Blair restated an "outperform" rating on shares of Stryker in a report on Thursday, March 5th. Finally, Robert W. Baird set a $437.00 price target on Stryker in a research report on Friday, January 30th. Fourteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $427.50.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of the firm's stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the completion of the sale, the director owned 2,457,331 shares of the company's stock, valued at $891,814,566.52. This trade represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 5.90% of the stock is currently owned by company insiders.

Stryker Profile

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons' offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.

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