Quintet Private Bank Europe S.A. Sells 3,934 Shares of Stryker Corporation $SYK

Key Points

• Quintet Private Bank Europe S.A. cut its Stryker stake by 58.4%, selling 3,934 shares in Q4 and ending the quarter with 2,808 shares worth $987,000.
• Director Ronda E. Stryker sold 250,000 shares on Feb. 4 at an average price of $362.92 for about $90.73 million, a 9.23% reduction in her holding though she still owns 2,457,331 shares.
• Stryker beat quarterly estimates (EPS $4.47 vs. $4.40; revenue $7.17B, up 11.4%), carries a consensus Moderate Buy with a $427.50 price target, and declared a $0.88 quarterly dividend (1.1% yield).

Quintet Private Bank Europe S.A. lessened its position in Stryker Corporation (NYSE:SYK - Free Report) by 58.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,808 shares of the medical technology company's stock after selling 3,934 shares during the quarter. Quintet Private Bank Europe S.A.'s holdings in Stryker were worth $987,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Alliancebernstein L.P. grew its position in shares of Stryker by 307.6% in the second quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company's stock valued at $2,214,146,000 after purchasing an additional 4,223,366 shares during the last quarter. Corient Private Wealth LLC boosted its stake in Stryker by 104.4% during the 2nd quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company's stock valued at $887,525,000 after purchasing an additional 1,146,998 shares during the period. Strive Asset Management LLC bought a new stake in Stryker during the 3rd quarter valued at approximately $227,389,000. Credit Agricole S A acquired a new stake in Stryker in the 3rd quarter valued at approximately $194,045,000. Finally, APG Asset Management N.V. increased its position in Stryker by 47.6% in the 3rd quarter. APG Asset Management N.V. now owns 943,648 shares of the medical technology company's stock worth $348,838,000 after buying an additional 304,203 shares during the period. Institutional investors and hedge funds own 77.09% of the company's stock.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 250,000 shares of the firm's stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $362.92, for a total transaction of $90,730,000.00. Following the completion of the sale, the director owned 2,457,331 shares of the company's stock, valued at approximately $891,814,566.52. This trade represents a 9.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 5.90% of the company's stock.

Analysts Set New Price Targets

SYK has been the subject of several research reports. Barclays reissued an "overweight" rating and issued a $469.00 price objective on shares of Stryker in a research report on Monday, February 2nd. BTIG Research increased their price target on shares of Stryker from $410.00 to $412.00 and gave the company a "buy" rating in a report on Friday, January 30th. Robert W. Baird set a $437.00 price objective on shares of Stryker in a report on Friday, January 30th. Piper Sandler reiterated an "overweight" rating on shares of Stryker in a research note on Tuesday, January 27th. Finally, Raymond James Financial raised Stryker from a "market perform" rating to an "outperform" rating and set a $418.00 target price on the stock in a research report on Tuesday, January 6th. Fourteen research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $427.50.

Stryker Stock Down 0.0%

NYSE SYK opened at $331.48 on Friday. Stryker Corporation has a 1-year low of $319.32 and a 1-year high of $404.87. The company has a market capitalization of $126.95 billion, a price-to-earnings ratio of 39.46, a PEG ratio of 1.94 and a beta of 0.92. The stock's 50 day moving average is $357.10 and its two-hundred day moving average is $361.96. The company has a current ratio of 1.89, a quick ratio of 1.21 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Thursday, January 29th. The medical technology company reported $4.47 earnings per share for the quarter, beating analysts' consensus estimates of $4.40 by $0.07. The firm had revenue of $7.17 billion for the quarter, compared to analysts' expectations of $7.12 billion. Stryker had a return on equity of 24.41% and a net margin of 12.92%.The business's revenue was up 11.4% compared to the same quarter last year. During the same period in the prior year, the business posted $4.01 earnings per share. Equities analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

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

Stryker Profile

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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