Banque Pictet & Cie SA Reduces Stock Holdings in Stryker Co. (NYSE:SYK)

Banque Pictet & Cie SA lowered its stake in shares of Stryker Co. (NYSE:SYK) by 25.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 24,134 shares of the medical technology company’s stock after selling 8,139 shares during the quarter. Banque Pictet & Cie SA’s holdings in Stryker were worth $8,689,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Dunhill Financial LLC raised its stake in shares of Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 37 shares during the period. Darwin Wealth Management LLC purchased a new stake in Stryker in the 3rd quarter worth about $36,000. Activest Wealth Management bought a new stake in Stryker in the fourth quarter worth about $36,000. Crews Bank & Trust purchased a new position in shares of Stryker during the fourth quarter valued at approximately $39,000. Finally, Hara Capital LLC bought a new stake in shares of Stryker during the 3rd quarter worth approximately $42,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. The Goldman Sachs Group upped their price objective on Stryker from $384.00 to $427.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Royal Bank of Canada raised their price target on shares of Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 29th. JMP Securities restated a “market perform” rating on shares of Stryker in a research note on Tuesday, January 7th. BTIG Research boosted their price target on Stryker from $383.00 to $394.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. raised their price objective on Stryker from $420.00 to $445.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Stryker has an average rating of “Moderate Buy” and a consensus price target of $420.68.

Stryker Stock Performance

Shares of SYK stock opened at $388.28 on Friday. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19. The business’s fifty day simple moving average is $377.19 and its 200-day simple moving average is $366.15. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The company has a market cap of $148.02 billion, a PE ratio of 50.04, a PEG ratio of 2.98 and a beta of 0.96.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter last year, the company posted $3.46 EPS. Analysts expect that Stryker Co. will post 13.49 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.84 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.87%. Stryker’s dividend payout ratio is currently 43.30%.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 201,392 shares of the business’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the transaction, the director now directly owns 3,642,075 shares in the company, valued at $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 5.90% of the company’s stock.

Stryker Company Profile

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.