Stryker Corporation (SYK) Position Trimmed by CIBC Asset Management Inc
CIBC Asset Management Inc lowered its position in Stryker Corporation (NYSE:SYK) by 1.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 51,149 shares of the medical technology company’s stock after selling 652 shares during the period. CIBC Asset Management Inc’s holdings in Stryker Corporation were worth $7,264,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Coldstream Capital Management Inc. lifted its stake in Stryker Corporation by 3.7% in the 2nd quarter. Coldstream Capital Management Inc. now owns 17,445 shares of the medical technology company’s stock worth $2,421,000 after purchasing an additional 626 shares in the last quarter. Retirement Systems of Alabama raised its position in shares of Stryker Corporation by 2.5% during the 3rd quarter. Retirement Systems of Alabama now owns 234,870 shares of the medical technology company’s stock valued at $33,356,000 after buying an additional 5,656 shares in the last quarter. Lockheed Martin Investment Management Co. purchased a new stake in shares of Stryker Corporation during the 2nd quarter valued at about $1,249,000. Toronto Dominion Bank raised its position in shares of Stryker Corporation by 25.8% during the 2nd quarter. Toronto Dominion Bank now owns 105,403 shares of the medical technology company’s stock valued at $14,625,000 after buying an additional 21,585 shares in the last quarter. Finally, Colonial Trust Advisors raised its position in shares of Stryker Corporation by 56.1% during the 2nd quarter. Colonial Trust Advisors now owns 23,446 shares of the medical technology company’s stock valued at $3,254,000 after buying an additional 8,426 shares in the last quarter. Institutional investors and hedge funds own 74.15% of the company’s stock.
SYK has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of Stryker Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, August 17th. ValuEngine raised shares of Stryker Corporation from a “hold” rating to a “buy” rating in a research report on Tuesday. BidaskClub upgraded shares of Stryker Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Cowen and Company restated a “buy” rating and issued a $160.00 target price (up from $150.00) on shares of Stryker Corporation in a research note on Sunday, July 30th. Finally, Oppenheimer Holdings, Inc. set a $148.00 price objective on shares of Stryker Corporation and gave the company a “hold” rating in a research note on Friday, July 28th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $151.52.
Shares of Stryker Corporation (SYK) traded up $1.27 during midday trading on Tuesday, hitting $155.75. 910,400 shares of the stock traded hands, compared to its average volume of 1,182,308. Stryker Corporation has a 1-year low of $106.48 and a 1-year high of $160.62. The firm has a market capitalization of $57,812.22, a price-to-earnings ratio of 24.48, a price-to-earnings-growth ratio of 2.43 and a beta of 0.79. The company has a current ratio of 2.37, a quick ratio of 1.61 and a debt-to-equity ratio of 0.63.
Stryker Corporation (NYSE:SYK) last announced its earnings results on Thursday, October 26th. The medical technology company reported $1.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.02. Stryker Corporation had a net margin of 14.67% and a return on equity of 24.11%. The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same quarter last year, the business earned $1.39 earnings per share. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. equities analysts expect that Stryker Corporation will post 6.47 EPS for the current fiscal year.
In related news, insider Lonny J. Carpenter sold 5,000 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $155.34, for a total transaction of $776,700.00. Following the transaction, the insider now directly owns 83,207 shares in the company, valued at $12,925,375.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 7.40% of the company’s stock.
Stryker Corporation Company Profile
Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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