Banque Pictet & Cie SA Grows Position in Stryker Corporation (NYSE:SYK)

Banque Pictet & Cie SA raised its position in Stryker Corporation (NYSE:SYK - Free Report) by 646.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 180,266 shares of the medical technology company's stock after purchasing an additional 156,132 shares during the period. Stryker accounts for 0.5% of Banque Pictet & Cie SA's investment portfolio, making the stock its 26th largest holding. Banque Pictet & Cie SA's holdings in Stryker were worth $67,104,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of SYK. Capital A Wealth Management LLC purchased a new stake in Stryker during the fourth quarter worth approximately $26,000. Rakuten Securities Inc. lifted its stake in Stryker by 618.2% during the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock worth $28,000 after purchasing an additional 68 shares during the last quarter. Goodman Advisory Group LLC purchased a new stake in Stryker during the first quarter worth approximately $32,000. City Holding Co. lifted its stake in Stryker by 528.6% during the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after purchasing an additional 74 shares during the last quarter. Finally, VSM Wealth Advisory LLC purchased a new position in shares of Stryker during the fourth quarter worth about $36,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Stryker

In related news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the sale, the director directly owned 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. The trade was a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 5.90% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on SYK. JMP Securities reaffirmed a "market perform" rating on shares of Stryker in a report on Monday, May 5th. Truist Financial upped their price objective on Stryker from $390.00 to $400.00 and gave the company a "hold" rating in a research note on Monday, May 5th. Roth Mkm increased their price target on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Needham & Company LLC reiterated a "buy" rating and set a $442.00 price target on shares of Stryker in a research note on Friday, March 21st. Finally, Evercore ISI raised their price objective on shares of Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research report on Tuesday. 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, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $428.55.

Stryker Trading Up 1.0%

SYK stock traded up $3.78 during midday trading on Thursday, hitting $395.83. The stock had a trading volume of 328,642 shares, compared to its average volume of 1,346,836. The company's 50-day moving average price is $384.17 and its 200 day moving average price is $376.78. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.64 and a quick ratio of 1.00. The firm has a market cap of $151.08 billion, a PE ratio of 53.50, a price-to-earnings-growth ratio of 2.94 and a beta of 0.91. Stryker Corporation has a 12-month low of $314.93 and a 12-month high of $406.19.

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

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a $0.84 dividend. The ex-dividend date is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.85%. Stryker's payout ratio is 45.41%.

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.