Cibc World Market Inc. Increases Holdings in Stryker Corporation $SYK

Key Points

• CIBC World Markets boosted its Stryker position by 11.9% in the fourth quarter, holding 157,822 shares valued at about $55.47 million.
• Wall Street remains cautiously positive on SYK, with 16 Buy ratings and 6 Hold ratings; the average analyst target price is about $395.48, implying meaningful upside from recent levels.
• Stryker reported Q1 earnings below expectations and also saw notable insider selling, including a large sale by director Ronda E. Stryker; however, the company continues to pay a quarterly dividend of $0.88 per share.

Cibc World Market Inc. increased its position in Stryker Corporation (NYSE:SYK - Free Report) by 11.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 157,822 shares of the medical technology company's stock after acquiring an additional 16,790 shares during the period. Cibc World Market Inc.'s holdings in Stryker were worth $55,470,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SYK. Godfrey Financial Associates Inc. purchased a new stake in Stryker during the fourth quarter worth $26,000. United Financial Planning Group LLC acquired a new position in shares of Stryker during the 3rd quarter worth $27,000. Strive Asset Management LLC acquired a new position in shares of Stryker during the 3rd quarter worth $30,000. CGC Financial Services LLC purchased a new stake in shares of Stryker in the 4th quarter worth about $29,000. Finally, ANTIPODES PARTNERS Ltd acquired a new stake in Stryker in the 3rd quarter valued at about $34,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

SYK has been the subject of a number of research reports. Sanford C. Bernstein set a $410.00 target price on shares of Stryker in a research report on Friday, May 1st. William Blair reissued an "outperform" rating on shares of Stryker in a research note on Thursday, March 5th. Needham & Company LLC cut their price objective on Stryker from $454.00 to $418.00 and set a "buy" rating for the company in a research report on Friday, May 1st. Canaccord Genuity Group reduced their target price on Stryker from $435.00 to $400.00 and set a "buy" rating on the stock in a research note on Friday, May 1st. Finally, Barclays lowered their target price on Stryker from $469.00 to $394.00 and set an "overweight" rating on the stock in a report on Monday, May 4th. Sixteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $395.48.

Stryker Stock Performance

NYSE:SYK opened at $300.82 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 2.11 and a quick ratio of 1.25. The firm has a market cap of $115.32 billion, a PE ratio of 34.82, a P/E/G ratio of 1.86 and a beta of 0.78. The firm has a 50 day simple moving average of $318.86 and a 200-day simple moving average of $346.14. Stryker Corporation has a 1-year low of $281.00 and a 1-year high of $404.87.

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

Stryker Announces Dividend

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

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 310,000 shares of the company's stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $312.23, for a total transaction of $96,791,300.00. Following the completion of the sale, the director directly owned 1,924,880 shares in the company, valued at $601,005,282.40. This represents a 13.87% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP M Kathryn Fink sold 5,220 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $283.85, for a total value of $1,481,697.00. Following the completion of the transaction, the vice president directly owned 13,137 shares in the company, valued at $3,728,937.45. This trade represents a 28.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 323,264 shares of company stock valued at $100,659,489 over the last quarter. Company 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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