Stryker Co. (NYSE:SYK) Stock Position Raised by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG raised its holdings in Stryker Co. (NYSE:SYK - Free Report) by 8,297.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 108,753 shares of the medical technology company's stock after purchasing an additional 107,458 shares during the period. Stryker comprises approximately 1.0% 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 $40,483,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Elefante Mark B acquired a new position in shares of Stryker in the 4th quarter valued at approximately $337,000. Mogy Joel R Investment Counsel Inc. raised its position in shares of Stryker by 3.4% in the 1st quarter. Mogy Joel R Investment Counsel Inc. now owns 98,216 shares of the medical technology company's stock valued at $36,561,000 after purchasing an additional 3,218 shares in the last quarter. Ferguson Wellman Capital Management Inc. raised its position in shares of Stryker by 1.9% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 174,871 shares of the medical technology company's stock valued at $65,096,000 after purchasing an additional 3,341 shares in the last quarter. Harbor Capital Advisors Inc. acquired a new position in shares of Stryker in the 1st quarter valued at approximately $1,840,000. Finally, Metis Global Partners LLC raised its position in shares of Stryker by 10.2% in the 4th quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company's stock valued at $6,064,000 after purchasing an additional 1,561 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on SYK shares. Roth Mkm upped their price target on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. BTIG Research set a $403.00 price target on Stryker and gave the company a "buy" rating in a research report on Monday, April 14th. Evercore ISI dropped their price target on Stryker from $400.00 to $390.00 and set an "outperform" rating on the stock in a research report on Friday, May 2nd. JMP Securities reissued a "market perform" rating on shares of Stryker in a research report on Monday, May 5th. Finally, The Goldman Sachs Group set a $422.00 price target on Stryker in a research report on Tuesday, March 4th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, Stryker presently has a consensus rating of "Moderate Buy" and an average target price of $427.30.

Stryker Stock Performance

Shares of SYK traded down $0.25 during trading hours on Monday, reaching $377.05. 965,082 shares of the company's stock traded hands, compared to its average volume of 1,331,421. The firm has a market capitalization of $143.91 billion, a price-to-earnings ratio of 48.59, a P/E/G ratio of 2.93 and a beta of 0.91. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. Stryker Co. has a twelve month low of $314.93 and a twelve month high of $406.19. The business's fifty day simple moving average is $372.73 and its two-hundred day simple moving average is $375.66.

Stryker (NYSE:SYK - Get Free Report) last issued 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. Stryker had a return on equity of 23.58% and a net margin of 13.25%. The company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. During the same period last year, the company earned $2.50 earnings per share. The company's quarterly revenue was up 11.9% compared to the same quarter last year. Analysts predict that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 annualized dividend and a yield of 0.89%. Stryker's dividend payout ratio is currently 45.41%.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the transaction, the director now owns 3,417,326 shares in the company, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 5.90% of the company's stock.

Stryker 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.