Banque Pictet & Cie SA Sells 1,992 Shares of Stryker Corporation $SYK

Key Points

• Banque Pictet & Cie SA reduced its stake in Stryker Corporation by 1.1%, selling 1,992 shares during the second quarter, now owning a total of 178,274 shares valued at approximately $70.5 million.
• Director Ronda E. Stryker sold 200,000 shares of the company for roughly $75.3 million, decreasing her ownership by 5.84%. Meanwhile, insider Viju Menon sold 500 shares at a total value of approximately $195,305.
• Stryker recently reported quarterly earnings that beat estimates, with an EPS of $3.13 and revenue of $6.02 billion, along with a dividend increase to $0.84 per share set to be paid on October 31st.

Banque Pictet & Cie SA cut its stake in shares of Stryker Corporation (NYSE:SYK - Free Report) by 1.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 178,274 shares of the medical technology company's stock after selling 1,992 shares during the quarter. Stryker makes up approximately 0.5% of Banque Pictet & Cie SA's holdings, making the stock its 26th biggest holding. Banque Pictet & Cie SA's holdings in Stryker were worth $70,531,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Goodman Advisory Group LLC bought a new stake in Stryker during the 1st quarter valued at $32,000. City Holding Co. increased its stake in shares of Stryker by 528.6% during the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after buying an additional 74 shares during the period. Ridgewood Investments LLC raised its holdings in shares of Stryker by 48.4% in the second quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company's stock valued at $36,000 after acquiring an additional 30 shares in the last quarter. Ransom Advisory Ltd purchased a new stake in Stryker in the first quarter worth about $37,000. Finally, Smallwood Wealth Investment Management LLC purchased a new position in Stryker during the 1st quarter valued at about $40,000. Hedge funds and other institutional investors own 77.09% of the company's stock.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total value of $75,290,000.00. Following the transaction, the director directly owned 3,222,108 shares of the company's stock, valued at $1,212,962,556.60. This represents a 5.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Viju Menon sold 500 shares of Stryker stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $390.61, for a total value of $195,305.00. Following the sale, the insider directly owned 12,511 shares of the company's stock, valued at approximately $4,886,921.71. This represents a 3.84% decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.

Stryker Price Performance

Shares of NYSE SYK opened at $368.64 on Friday. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The company has a market cap of $140.93 billion, a PE ratio of 48.83, a P/E/G ratio of 2.68 and a beta of 0.93. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. The business has a 50-day simple moving average of $386.11 and a two-hundred day simple moving average of $378.95.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, beating the consensus estimate of $3.07 by $0.06. The firm had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. Stryker's revenue was up 11.1% on a year-over-year basis. During the same period last year, the firm posted $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, equities analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker's payout ratio is presently 44.50%.

Analyst Ratings Changes

SYK has been the subject of several research reports. Wells Fargo & Company upped their price target on shares of Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Truist Financial set a $415.00 target price on Stryker and gave the stock a "hold" rating in a report on Monday, August 4th. Rothschild & Co Redburn assumed coverage on Stryker in a report on Thursday, September 18th. They issued a "neutral" rating and a $420.00 price target on the stock. Needham & Company LLC upped their price objective on Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Finally, Rothschild Redb raised Stryker to a "hold" rating in a research report on Thursday, September 18th. Fourteen investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $430.33.

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.

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