Bank Julius Baer & Co. Ltd Zurich Has $281.81 Million Holdings in Stryker Corporation (NYSE:SYK)

Bank Julius Baer & Co. Ltd Zurich lifted its stake in Stryker Corporation (NYSE:SYK - Free Report) by 45.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 690,282 shares of the medical technology company's stock after purchasing an additional 214,724 shares during the quarter. Stryker accounts for 0.9% of Bank Julius Baer & Co. Ltd Zurich's portfolio, making the stock its 27th largest position. Bank Julius Baer & Co. Ltd Zurich owned about 0.18% of Stryker worth $281,813,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH lifted its position in shares of Stryker by 5.9% in the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 453,214 shares of the medical technology company's stock worth $168,709,000 after purchasing an additional 25,107 shares in the last quarter. Y Intercept Hong Kong Ltd lifted its position in shares of Stryker by 136.3% in the first quarter. Y Intercept Hong Kong Ltd now owns 11,184 shares of the medical technology company's stock worth $4,163,000 after purchasing an additional 6,451 shares in the last quarter. Riverpoint Wealth Management Holdings LLC raised its position in Stryker by 28.6% during the first quarter. Riverpoint Wealth Management Holdings LLC now owns 1,224 shares of the medical technology company's stock valued at $456,000 after acquiring an additional 272 shares in the last quarter. PFG Advisors raised its position in Stryker by 30.4% during the first quarter. PFG Advisors now owns 14,841 shares of the medical technology company's stock valued at $5,525,000 after acquiring an additional 3,458 shares in the last quarter. Finally, Obermeyer Wealth Partners raised its position in Stryker by 9.0% during the first quarter. Obermeyer Wealth Partners now owns 2,896 shares of the medical technology company's stock valued at $1,078,000 after acquiring an additional 239 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on SYK. Roth Mkm raised their price objective on shares of Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. JMP Securities restated a "market perform" rating on shares of Stryker in a research note on Monday, May 5th. BTIG Research restated a "buy" rating on shares of Stryker in a research note on Monday, July 14th. Truist Financial raised their price objective on shares of Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research note on Monday, May 5th. Finally, Sanford C. Bernstein set a $450.00 price objective on shares of Stryker in a research note on Monday, May 5th. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $428.55.

Stryker Price Performance

Shares of Stryker stock traded down $4.08 during trading on Thursday, reaching $396.85. The company's stock had a trading volume of 1,697,935 shares, compared to its average volume of 1,449,408. The stock has a 50-day moving average price of $386.10 and a two-hundred day moving average price of $378.65. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. Stryker Corporation has a one year low of $314.93 and a one year high of $406.19. The stock has a market capitalization of $151.47 billion, a P/E ratio of 53.63, a price-to-earnings-growth ratio of 2.93 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 EPS for the quarter, beating analysts' consensus estimates of $2.73 by $0.11. The company had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $5.68 billion. Stryker had a return on equity of 23.74% and a net margin of 12.31%. Stryker's revenue was up 11.9% on a year-over-year basis. During the same period in the prior year, the business posted $2.50 EPS. As a group, sell-side analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.85%. Stryker's dividend payout ratio (DPR) is presently 45.41%.

Insider Activity

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the completion of the transaction, the director owned 3,417,326 shares of the company's stock, valued at $1,288,195,208.96. This represents a 5.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 5.90% of the company's stock.

About Stryker

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.