CIBC Asset Management Inc Grows Position in Stryker Corporation $SYK

Key Points

• CIBC Asset Management increased its Stryker stake by 55.2% in the fourth quarter, ending with 95,951 shares valued at about $33.7 million.
• Stryker reported mixed quarterly results, with earnings of $2.60 per share and revenue of $6.02 billion both missing analyst estimates, though revenue still rose 2.6% year over year.
• The company announced a quarterly dividend of $0.88 per share, payable July 31, while insiders have recently sold shares, including a large sale by Director Ronda E. Stryker.

CIBC Asset Management Inc boosted its stake in Stryker Corporation (NYSE:SYK - Free Report) by 55.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 95,951 shares of the medical technology company's stock after purchasing an additional 34,115 shares during the quarter. CIBC Asset Management Inc's holdings in Stryker were worth $33,724,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Godfrey Financial Associates Inc. purchased a new stake in Stryker during the fourth quarter worth approximately $26,000. United Financial Planning Group LLC purchased a new stake in Stryker during the third quarter worth approximately $27,000. CGC Financial Services LLC purchased a new stake in Stryker during the fourth quarter worth approximately $29,000. Strive Asset Management LLC purchased a new stake in Stryker during the third quarter worth approximately $30,000. Finally, ANTIPODES PARTNERS Ltd purchased a new stake in Stryker during the third quarter worth approximately $34,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Stryker from $445.00 to $400.00 and set an "overweight" rating for the company in a research note on Friday, May 1st. Wells Fargo & Company decreased their price objective on shares of Stryker from $456.00 to $418.00 and set an "overweight" rating for the company in a research note on Friday, May 1st. Evercore set a $355.00 price objective on shares of Stryker in a research note on Friday, May 1st. UBS Group decreased their price objective on shares of Stryker from $400.00 to $380.00 and set a "neutral" rating for the company in a research note on Tuesday, March 17th. Finally, Needham & Company LLC decreased their price objective on shares of Stryker from $454.00 to $418.00 and set a "buy" rating for the company in a research note on Friday, May 1st. Sixteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $395.48.

Stryker Trading Up 0.8%

NYSE SYK opened at $295.63 on Thursday. The company's fifty day simple moving average is $319.41 and its 200-day simple moving average is $346.58. Stryker Corporation has a 52 week low of $281.00 and a 52 week high of $404.87. The company has a current ratio of 2.11, a quick ratio of 1.25 and a debt-to-equity ratio of 0.62. The stock has a market cap of $113.33 billion, a P/E ratio of 34.22, a PEG ratio of 1.85 and a beta of 0.78.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Thursday, April 30th. The medical technology company reported $2.60 EPS for the quarter, missing analysts' consensus estimates of $2.98 by ($0.38). Stryker had a return on equity of 23.42% and a net margin of 13.20%.The firm had revenue of $6.02 billion for the quarter, compared to analyst estimates of $6.34 billion. During the same period in the previous year, the firm posted $2.84 earnings per share. The company's revenue for the quarter was up 2.6% on a year-over-year basis. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. Equities research analysts predict that Stryker Corporation will post 14.98 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be given a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Tuesday, June 30th. Stryker's payout ratio is presently 40.74%.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 310,000 shares of the company's stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $312.23, for a total value of $96,791,300.00. Following the sale, the director directly owned 1,924,880 shares of the company's stock, valued at $601,005,282.40. This represents a 13.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Robert S. Fletcher sold 4,544 shares of the company's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $306.87, for a total transaction of $1,394,417.28. Following the completion of the sale, the vice president directly owned 10,582 shares in the company, valued at $3,247,298.34. This represents a 30.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 323,264 shares of company stock valued at $100,659,489. Corporate insiders own 4.60% of the company's stock.

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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