Pictet Asset Management Holding SA Boosts Holdings in Stryker Corporation $SYK

Key Points

• Pictet Asset Management Holding SA increased its stake in Stryker by 190.3% in the fourth quarter, adding 305,640 shares to hold 466,256 shares (about 0.12%) valued at roughly $163.88 million.
• Stryker beat quarterly EPS expectations ($4.47 vs. $4.40) with revenue up 11.4% to $7.17 billion, and announced a quarterly dividend of $0.88 (annualized $3.52, ~1.1% yield).
• Analysts remain largely positive with a consensus rating of "Moderate Buy" and an average price target of $421.11 (15 Buys vs. 6 Holds).

Pictet Asset Management Holding SA grew its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 190.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 466,256 shares of the medical technology company's stock after purchasing an additional 305,640 shares during the period. Pictet Asset Management Holding SA owned approximately 0.12% of Stryker worth $163,878,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. United Financial Planning Group LLC purchased a new stake in shares of Stryker during the third quarter valued at approximately $27,000. Strive Asset Management LLC bought a new stake in shares of Stryker in the third quarter worth $30,000. ANTIPODES PARTNERS Ltd bought a new stake in shares of Stryker in the third quarter worth $34,000. Copia Wealth Management increased its stake in shares of Stryker by 181.6% in the third quarter. Copia Wealth Management now owns 107 shares of the medical technology company's stock worth $40,000 after buying an additional 69 shares during the last quarter. Finally, WPG Advisers LLC increased its stake in shares of Stryker by 156.8% in the third quarter. WPG Advisers LLC now owns 113 shares of the medical technology company's stock worth $42,000 after buying an additional 69 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company's stock.

Analyst Ratings Changes

A number of analysts recently issued reports on SYK shares. Leerink Partners started coverage on shares of Stryker in a research note on Monday, April 13th. They issued an "outperform" rating and a $410.00 price target for the company. Jefferies Financial Group restated a "buy" rating and issued a $465.00 price target on shares of Stryker in a research note on Wednesday, March 4th. Sanford C. Bernstein lifted their price target on shares of Stryker from $450.00 to $465.00 and gave the stock an "outperform" rating in a research note on Friday, January 9th. UBS Group dropped their price target on shares of Stryker from $400.00 to $380.00 and set a "neutral" rating for the company in a research note on Tuesday, March 17th. Finally, Raymond James Financial upgraded shares of Stryker from a "market perform" rating to an "outperform" rating and set a $418.00 price target for the company in a research note on Tuesday, January 6th. Fifteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $421.11.

Stryker Stock Performance

Stryker stock opened at $329.09 on Tuesday. The company has a market cap of $126.04 billion, a PE ratio of 39.18, a P/E/G ratio of 1.92 and a beta of 0.92. The company has a fifty day moving average price of $349.03 and a two-hundred day moving average price of $357.85. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.89 and a quick ratio of 1.21. Stryker Corporation has a 12 month low of $319.32 and a 12 month high of $404.87.

Stryker (NYSE:SYK - Get Free Report) last released its quarterly earnings data on Thursday, January 29th. The medical technology company reported $4.47 EPS for the quarter, topping analysts' consensus estimates of $4.40 by $0.07. The firm had revenue of $7.17 billion during the quarter, compared to the consensus estimate of $7.12 billion. Stryker had a net margin of 12.92% and a return on equity of 24.41%. The firm's revenue was up 11.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.01 earnings per share. Research analysts expect that Stryker Corporation will post 14.91 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Tuesday, March 31st will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Stryker's payout ratio is currently 41.90%.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 250,000 shares of Stryker stock in a transaction on Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total value of $90,730,000.00. Following the completion of the transaction, the director owned 2,457,331 shares of the company's stock, valued at $891,814,566.52. The trade was a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 4.60% of the stock is currently owned by corporate insiders.

About Stryker

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.

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