Stryker Corporation $SYK Shares Sold by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG lessened its holdings in Stryker Corporation (NYSE:SYK) by 1.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 145,097 shares of the medical technology company’s stock after selling 2,268 shares during the period. Stryker accounts for approximately 1.1% of Bank Pictet & Cie Europe AG’s portfolio, making the stock its 29th largest holding. Bank Pictet & Cie Europe AG’s holdings in Stryker were worth $53,638,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of SYK. Brighton Jones LLC increased its position in Stryker by 15.4% during the fourth quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company’s stock worth $1,643,000 after buying an additional 609 shares in the last quarter. State of Wyoming acquired a new stake in shares of Stryker during the first quarter valued at $62,000. Quarry LP increased its position in Stryker by 83.3% during the 1st quarter. Quarry LP now owns 187 shares of the medical technology company’s stock worth $70,000 after purchasing an additional 85 shares in the last quarter. AlTi Global Inc. raised its stake in Stryker by 37.4% in the 1st quarter. AlTi Global Inc. now owns 2,113 shares of the medical technology company’s stock valued at $788,000 after purchasing an additional 575 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Stryker by 12.6% in the 1st quarter. AQR Capital Management LLC now owns 113,800 shares of the medical technology company’s stock valued at $41,442,000 after purchasing an additional 12,758 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of recent research reports. BTIG Research reiterated a “buy” rating and set a $410.00 price target on shares of Stryker in a report on Friday, November 14th. Evercore ISI lowered their target price on shares of Stryker from $410.00 to $405.00 and set an “outperform” rating for the company in a research note on Friday, October 31st. Wall Street Zen upgraded Stryker from a “hold” rating to a “buy” rating in a report on Sunday, December 21st. Redburn Partners set a $420.00 price objective on Stryker in a report on Thursday, September 18th. Finally, UBS Group set a $408.00 price objective on Stryker in a research report on Monday, October 13th. Thirteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $431.84.

Stryker Stock Performance

Shares of NYSE:SYK opened at $351.28 on Friday. The business has a 50-day moving average of $361.31 and a two-hundred day moving average of $375.75. The firm has a market capitalization of $134.34 billion, a PE ratio of 46.16, a P/E/G ratio of 2.49 and a beta of 0.89. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.85 and a quick ratio of 1.13. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19.

Stryker (NYSE:SYK) last issued its earnings results on Friday, October 31st. The medical technology company reported $3.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.13 by $0.06. The business had revenue of $6.06 billion during the quarter, compared to analysts’ expectations of $6.04 billion. Stryker had a return on equity of 24.07% and a net margin of 12.07%.The company’s revenue for the quarter was up 10.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.87 EPS. As a group, research analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be given a $0.88 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This is an increase from Stryker’s previous quarterly dividend of $0.84. This represents a $3.52 annualized dividend and a dividend yield of 1.0%. Stryker’s dividend payout ratio (DPR) is currently 46.25%.

Insider Activity

In related news, Director Ronda E. Stryker sold 276,173 shares of the stock in a transaction on Thursday, November 6th. The stock was sold at an average price of $353.28, for a total value of $97,566,397.44. Following the completion of the sale, the director directly owned 2,702,108 shares in the company, valued at approximately $954,600,714.24. This represents a 9.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Preston Wendell Wells sold 165 shares of the firm’s stock in a transaction dated Thursday, November 20th. The shares were sold at an average price of $365.88, for a total value of $60,370.20. Following the completion of the transaction, the chief financial officer directly owned 6,694 shares in the company, valued at $2,449,200.72. This trade represents a 2.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 522,118 shares of company stock valued at $185,381,932. Company insiders own 5.90% of the company’s stock.

Stryker Company 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.