Today, CIBC World Markets Inc. Reached $3,571,000 position of Stryker Corp. (SYK)

Today, CIBC World Markets Inc. Reached $3,571,000 position  of Stryker Corp. (SYK)

CIBC World Markets Inc. reduced its position in shares of Stryker Corp. (NYSE:SYK) by 61.4% during the third quarter, Holdings Channel reports. The firm owned 30,674 shares of the medical technology company’s stock after selling 48,821 shares during the period. CIBC World Markets Inc.’s holdings in Stryker Corp. were worth $3,571,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in SYK. LSV Asset Management acquired a new position in Stryker Corp. during the second quarter valued at approximately $107,000. Global X Management Co. LLC increased its position in Stryker Corp. by 235.8% in the second quarter. Global X Management Co. LLC now owns 994 shares of the medical technology company’s stock valued at $119,000 after buying an additional 698 shares during the period. Mycio Wealth Partners LLC acquired a new position in Stryker Corp. during the third quarter valued at approximately $116,000. Carroll Financial Associates Inc. increased its position in Stryker Corp. by 78.0% in the second quarter. Carroll Financial Associates Inc. now owns 1,086 shares of the medical technology company’s stock valued at $130,000 after buying an additional 476 shares during the period. Finally, CWM LLC acquired a new position in Stryker Corp. during the second quarter valued at approximately $150,000. Institutional investors own 73.55% of the company’s stock.

Stryker Corp. (NYSE:SYK) traded up 0.98% during trading on Friday, reaching $112.84. 559,305 shares of the company’s stock traded hands. The firm has a market cap of $42.25 billion, a price-to-earnings ratio of 25.68 and a beta of 0.86. The company has a 50 day moving average of $113.79 and a 200 day moving average of $114.99. Stryker Corp. has a one year low of $86.68 and a one year high of $123.55.

Stryker Corp. (NYSE:SYK) last announced its quarterly earnings results on Thursday, October 27th. The medical technology company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.37 by $0.02. The firm had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.81 billion. Stryker Corp. had a return on equity of 23.61% and a net margin of 15.24%. The business’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter last year, the firm posted $1.25 earnings per share. Equities research analysts predict that Stryker Corp. will post $5.78 EPS for the current year.

Several research analysts have commented on SYK shares. Zacks Investment Research raised shares of Stryker Corp. from a “hold” rating to a “buy” rating and set a $119.00 price target on the stock in a research note on Tuesday, November 15th. SunTrust Banks Inc. started coverage on shares of Stryker Corp. in a research note on Thursday, October 13th. They set a “buy” rating and a $140.00 price target on the stock. Canaccord Genuity set a $127.00 target price on shares of Stryker Corp. and gave the stock a “buy” rating in a research note on Sunday, October 30th. Oppenheimer Holdings Inc. set a $122.00 target price on shares of Stryker Corp. and gave the stock a “hold” rating in a research note on Sunday, October 30th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Stryker Corp. in a research note on Sunday, November 13th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $122.38.

In other Stryker Corp. news, Director Ronda E. Stryker sold 6,000 shares of Stryker Corp. stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $115.67, for a total value of $694,020.00. Following the transaction, the director now owns 193,142 shares in the company, valued at $22,340,735.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronda E. Stryker sold 12,000 shares of Stryker Corp. stock in a transaction dated Tuesday, August 30th. The shares were sold at an average price of $115.80, for a total value of $1,389,600.00. Following the completion of the transaction, the director now owns 193,142 shares in the company, valued at approximately $22,365,843.60. The disclosure for this sale can be found here. Insiders own 7.80% of the company’s stock.

Stryker Corp. Company Profile

Stryker Corporation (Stryker) is a medical technology company. The Company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Company’s Orthopaedics segment products consist of implants used in hip and knee joint replacements and trauma and surgeries. The Company’s MedSurg segment products consist of surgical equipment and surgical navigation systems (Instruments); endoscopic and communications systems (Endoscopy); patient handling and emergency medical equipment (Medical), and reprocessed and remanufactured medical devices (Sustainability), as well as other medical device products used in a range of medical specialties.

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