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

Bank Pictet & Cie Europe AG reduced its position in shares of Stryker Corporation (NYSE:SYK) by 1.5% during the third quarter, HoldingsChannel reports. The firm owned 145,097 shares of the medical technology company’s stock after selling 2,268 shares during the quarter. Stryker comprises about 1.1% of Bank Pictet & Cie Europe AG’s holdings, making the stock its 29th largest holding. Bank Pictet & Cie Europe AG’s holdings in Stryker were worth $53,638,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in 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 buying an additional 440,607 shares during the last quarter. State Street Corp lifted its stake in shares of Stryker by 1.0% in the second quarter. State Street Corp now owns 14,956,732 shares of the medical technology company’s stock worth $5,929,765,000 after acquiring an additional 150,204 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Stryker by 1.1% in the second quarter. Geode Capital Management LLC now owns 7,393,611 shares of the medical technology company’s stock valued at $2,910,445,000 after purchasing an additional 79,654 shares during the last quarter. Alliancebernstein L.P. grew its stake in Stryker by 307.6% during the 2nd 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 in the last quarter. Finally, Norges Bank purchased a new stake in Stryker during the 2nd quarter worth approximately $1,882,173,000. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Trading Down 0.8%

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

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

Stryker Increases Dividend

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

Analysts Set New Price Targets

SYK has been the subject of a number of recent analyst reports. Wall Street Zen raised shares of Stryker from a “hold” rating to a “buy” rating in a research report on Sunday, December 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Stryker in a research note on Monday, December 22nd. Rothschild & Co Redburn started coverage on shares of Stryker in a research report on Thursday, September 18th. They issued a “neutral” rating and a $420.00 target price for the company. Citizens Jmp upgraded shares of Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 target price on the stock in a research note on Friday, December 19th. Finally, Redburn Partners set a $420.00 price target on Stryker in a research note on Thursday, September 18th. Thirteen equities 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 has an average rating of “Moderate Buy” and a consensus target price of $431.84.

Insider Buying and Selling

In other Stryker news, CAO William E. Berry, Jr. sold 1,953 shares of the stock in a transaction on Friday, November 14th. The stock was sold at an average price of $365.49, for a total value of $713,801.97. Following the sale, the chief accounting officer directly owned 2,833 shares of the company’s stock, valued at $1,035,433.17. This trade represents a 40.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Preston Wendell Wells sold 165 shares of the business’s stock in a transaction on Thursday, November 20th. The shares were sold at an average price of $365.88, for a total transaction of $60,370.20. Following the transaction, the chief financial officer directly owned 6,694 shares of the company’s stock, valued at approximately $2,449,200.72. This trade represents a 2.41% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 522,118 shares of company stock valued at $185,381,932. Insiders own 5.90% of the company’s stock.

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.