Banque Pictet & Cie SA Lowers Stock Holdings in Stryker Corporation $SYK

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

Other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Stryker during the 2nd quarter worth about $1,882,173,000. Alliancebernstein L.P. grew its holdings in Stryker by 307.6% in the second quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock valued at $2,214,146,000 after purchasing an additional 4,223,366 shares during the period. Corient Private Wealth LLC increased its position in Stryker by 104.4% during the second quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock worth $887,525,000 after purchasing an additional 1,146,998 shares during the last quarter. ABN AMRO Bank N.V. purchased a new position in Stryker during the second quarter worth approximately $191,047,000. Finally, Vanguard Group Inc. boosted its holdings in shares of Stryker by 1.3% in the 2nd quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock valued at $13,253,831,000 after purchasing an additional 440,607 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Price Performance

SYK stock opened at $351.28 on Friday. The firm has a market cap of $134.34 billion, a P/E ratio of 46.16, a price-to-earnings-growth ratio of 2.49 and a beta of 0.89. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.13 and a current ratio of 1.85. Stryker Corporation has a 1 year low of $329.16 and a 1 year high of $406.19. The stock has a 50-day simple moving average of $361.31 and a 200-day simple moving average of $375.75.

Stryker (NYSE:SYK) last released its quarterly earnings results on Friday, October 31st. The medical technology company reported $3.19 EPS for the quarter, topping the consensus estimate 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 for the quarter was up 10.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.87 EPS. On average, equities analysts predict that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Increases Dividend

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

Insider Activity at Stryker

In other news, CFO Preston Wendell Wells sold 165 shares of the firm’s stock in a transaction dated Thursday, November 20th. The stock was sold at an average price of $365.88, for a total transaction of $60,370.20. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 276,173 shares of the business’s stock in a transaction dated 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 transaction, the director owned 2,702,108 shares in the company, valued at approximately $954,600,714.24. This trade represents a 9.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 522,118 shares of company stock valued at $185,381,932. Corporate insiders own 5.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on SYK shares. Needham & Company LLC restated a “buy” rating and set a $448.00 price objective on shares of Stryker in a report on Friday, November 14th. Wall Street Zen upgraded Stryker from a “hold” rating to a “buy” rating in a research note on Sunday, December 21st. UBS Group set a $408.00 price objective on Stryker in a report on Monday, October 13th. Truist Financial decreased their target price on Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a report on Thursday, December 18th. Finally, Evercore ISI dropped their target price on shares of Stryker from $410.00 to $405.00 and set an “outperform” rating for the company in a research report on Friday, October 31st. Thirteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $431.84.

Stryker 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.