PICTET BANK & TRUST Ltd Takes $1.72 Million Position in Stryker Corporation (NYSE:SYK)

PICTET BANK & TRUST Ltd bought a new position in shares of Stryker Corporation (NYSE:SYK - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 4,627 shares of the medical technology company's stock, valued at approximately $1,722,000. Stryker comprises 2.1% of PICTET BANK & TRUST Ltd's holdings, making the stock its 20th biggest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Arbor Trust Wealth Advisors LLC raised its stake in shares of Stryker by 1.0% in the 1st quarter. Arbor Trust Wealth Advisors LLC now owns 12,226 shares of the medical technology company's stock valued at $4,562,000 after purchasing an additional 125 shares during the period. Rossby Financial LCC acquired a new stake in Stryker during the first quarter worth approximately $80,000. DAVENPORT & Co LLC increased its holdings in Stryker by 3.0% in the 1st quarter. DAVENPORT & Co LLC now owns 23,931 shares of the medical technology company's stock valued at $8,908,000 after buying an additional 687 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Stryker by 2.0% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 62,611 shares of the medical technology company's stock valued at $23,307,000 after acquiring an additional 1,217 shares during the last quarter. Finally, Clear Creek Financial Management LLC boosted its stake in shares of Stryker by 15.7% during the first quarter. Clear Creek Financial Management LLC now owns 3,376 shares of the medical technology company's stock valued at $1,257,000 after purchasing an additional 459 shares in the last quarter. Institutional investors and hedge funds own 77.09% of the company's stock.

Stryker Trading Up 0.0%

Shares of NYSE SYK traded up $0.19 during mid-day trading on Friday, reaching $392.00. 536,295 shares of the company's stock were exchanged, compared to its average volume of 1,346,875. The firm has a market capitalization of $149.62 billion, a price-to-earnings ratio of 52.97, a PEG ratio of 2.95 and a beta of 0.91. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.00 and a current ratio of 1.64. Stryker Corporation has a 52-week low of $314.93 and a 52-week high of $406.19. The company's 50-day moving average is $382.39 and its 200-day moving average is $375.99.

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

Stryker Dividend Announcement

The company 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 dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.86%. The ex-dividend date is Monday, June 30th. Stryker's dividend payout ratio (DPR) is presently 45.41%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on SYK. Roth Mkm increased their price objective on shares of Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Citigroup reaffirmed a "buy" rating and set a $455.00 price objective (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Evercore ISI decreased 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. BTIG Research set a $403.00 target price on shares of Stryker and gave the company a "buy" rating in a research report on Monday, April 14th. Finally, Wall Street Zen lowered shares of Stryker from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $427.30.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 200,000 shares of the company's 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 directly owned 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. 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.

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.