Banque Pictet & Cie SA Boosts Stake in Stryker Corporation $SYK

Banque Pictet & Cie SA increased its holdings in shares of Stryker Corporation (NYSE:SYK) by 6.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 172,188 shares of the medical technology company’s stock after purchasing an additional 10,622 shares during the quarter. Stryker accounts for 0.4% of Banque Pictet & Cie SA’s portfolio, making the stock its 28th biggest holding. Banque Pictet & Cie SA’s holdings in Stryker were worth $60,519,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SYK. Czech National Bank lifted its holdings in shares of Stryker by 3.9% during the 4th quarter. Czech National Bank now owns 90,755 shares of the medical technology company’s stock valued at $31,898,000 after buying an additional 3,366 shares during the period. Davis R M Inc. grew its holdings in shares of Stryker by 1.8% in the third quarter. Davis R M Inc. now owns 138,732 shares of the medical technology company’s stock worth $51,285,000 after acquiring an additional 2,512 shares during the period. Terra Alpha Investments LLC purchased a new stake in Stryker during the third quarter valued at $1,216,000. Kepler Cheuvreux Suisse SA purchased a new stake in Stryker during the third quarter valued at $27,952,000. Finally, Diversified Trust Co lifted its holdings in Stryker by 45.6% in the third quarter. Diversified Trust Co now owns 12,445 shares of the medical technology company’s stock valued at $4,601,000 after acquiring an additional 3,899 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on SYK. William Blair reissued an “outperform” rating on shares of Stryker in a research report on Thursday, March 5th. Evercore set a $390.00 price objective on shares of Stryker in a research note on Monday, January 5th. Jefferies Financial Group reissued a “buy” rating and issued a $465.00 price objective on shares of Stryker in a report on Wednesday, March 4th. Wall Street Zen upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research report on Saturday, February 21st. Finally, TD Cowen cut shares of Stryker from a “buy” rating to a “hold” rating and set a $387.00 target price for the company. in a report on Monday, January 26th. Fourteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $427.50.

Stryker Stock Performance

Shares of SYK opened at $329.58 on Thursday. The business has a 50-day simple moving average of $358.11 and a two-hundred day simple moving average of $362.50. The company has a quick ratio of 1.21, a current ratio of 1.89 and a debt-to-equity ratio of 0.66. Stryker Corporation has a 52 week low of $319.32 and a 52 week high of $404.87. The stock has a market cap of $126.22 billion, a price-to-earnings ratio of 39.24, a PEG ratio of 1.92 and a beta of 0.92.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, beating analysts’ consensus estimates of $4.40 by $0.07. The firm had revenue of $7.17 billion for the quarter, compared to analysts’ expectations of $7.12 billion. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The business’s quarterly revenue was up 11.4% on a year-over-year basis. During the same period in the previous year, the firm earned $4.01 EPS. On average, analysts expect that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, March 31st. Stryker’s dividend payout ratio is presently 41.90%.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 250,000 shares of the stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the sale, the director directly owned 2,457,331 shares of the company’s stock, valued at $891,814,566.52. This represents a 9.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.90% of the stock is currently owned by insiders.

About Stryker

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.