Stryker Corporation $SYK Shares Sold by Banque Pictet & Cie SA

Banque Pictet & Cie SA decreased its position in Stryker Corporation (NYSE:SYK) by 9.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 161,566 shares of the medical technology company’s stock after selling 16,708 shares during the period. Banque Pictet & Cie SA’s holdings in Stryker were worth $59,726,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Coastline Trust Co boosted its holdings in Stryker by 6.7% in the 3rd quarter. Coastline Trust Co now owns 512 shares of the medical technology company’s stock valued at $189,000 after purchasing an additional 32 shares in the last quarter. RB Capital Management LLC lifted its holdings in shares of Stryker by 7.3% in the 3rd quarter. RB Capital Management LLC now owns 941 shares of the medical technology company’s stock valued at $348,000 after buying an additional 64 shares during the period. Salomon & Ludwin LLC boosted its stake in shares of Stryker by 107.1% in the third quarter. Salomon & Ludwin LLC now owns 234 shares of the medical technology company’s stock valued at $87,000 after buying an additional 121 shares in the last quarter. Mather Group LLC. grew its holdings in Stryker by 4.0% during the third quarter. Mather Group LLC. now owns 6,305 shares of the medical technology company’s stock worth $2,331,000 after acquiring an additional 245 shares during the period. Finally, GPM Growth Investors Inc. raised its position in Stryker by 1.6% in the third quarter. GPM Growth Investors Inc. now owns 23,056 shares of the medical technology company’s stock worth $8,523,000 after acquiring an additional 361 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Down 0.8%

SYK stock opened at $351.28 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.85 and a quick ratio of 1.13. The company’s 50 day simple moving average is $361.31 and its 200-day simple moving average is $375.75. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. 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.

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

Stryker Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.88 per share. 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 dividend on an annualized basis and a dividend yield of 1.0%. Stryker’s dividend payout ratio is 46.25%.

Analyst Ratings Changes

Several brokerages have commented on SYK. Weiss Ratings restated a “hold (c+)” rating on shares of Stryker in a research report on Monday, December 22nd. Royal Bank Of Canada reissued an “outperform” rating and set a $435.00 price objective on shares of Stryker in a report on Friday, November 14th. Truist Financial dropped their target price on shares of Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a report on Thursday, December 18th. Evercore ISI decreased their price target on Stryker from $410.00 to $405.00 and set an “outperform” rating on the stock in a research note on Friday, October 31st. Finally, Needham & Company LLC restated a “buy” rating and issued a $448.00 price target on shares of Stryker in a report on Friday, November 14th. Thirteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $431.84.

Insider Buying and Selling

In other Stryker news, 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 transaction of $60,370.20. Following the sale, the chief financial officer directly owned 6,694 shares of the company’s stock, valued at $2,449,200.72. This trade represents a 2.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronda E. Stryker sold 276,173 shares of Stryker stock in a transaction dated Thursday, November 6th. The stock was sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the sale, the director owned 2,702,108 shares of the company’s stock, valued at approximately $954,600,714.24. This trade represents a 9.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 522,118 shares of company stock worth $185,381,932. 5.90% of the stock is owned by corporate insiders.

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.