Banque Pictet & Cie SA Buys 156,132 Shares of Stryker Corporation (NYSE:SYK)

Banque Pictet & Cie SA grew its stake in Stryker Corporation (NYSE:SYK - Free Report) by 646.9% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 180,266 shares of the medical technology company's stock after purchasing an additional 156,132 shares during the period. Stryker makes up approximately 0.5% of Banque Pictet & Cie SA's portfolio, making the stock its 26th biggest holding. Banque Pictet & Cie SA's holdings in Stryker were worth $67,104,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Brighton Jones LLC grew its stake in Stryker by 15.4% in the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock valued at $1,643,000 after acquiring an additional 609 shares during the last quarter. Assetmark Inc. lifted its position in Stryker by 28.1% during the fourth quarter. Assetmark Inc. now owns 1,298 shares of the medical technology company's stock worth $467,000 after buying an additional 285 shares during the period. Proficio Capital Partners LLC boosted its holdings in shares of Stryker by 46.2% in the 4th quarter. Proficio Capital Partners LLC now owns 1,656 shares of the medical technology company's stock valued at $596,000 after purchasing an additional 523 shares during the last quarter. NBT Bank N A NY boosted its holdings in shares of Stryker by 20.1% in the 4th quarter. NBT Bank N A NY now owns 4,240 shares of the medical technology company's stock valued at $1,527,000 after purchasing an additional 709 shares during the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in shares of Stryker by 5.9% during the 4th quarter. Daiwa Securities Group Inc. now owns 51,886 shares of the medical technology company's stock worth $18,682,000 after purchasing an additional 2,883 shares during the period. Institutional investors and hedge funds own 77.09% of the company's stock.

Insider Activity

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total transaction of $75,392,000.00. Following the completion of the transaction, the director owned 3,417,326 shares in the company, valued at approximately $1,288,195,208.96. This represents a 5.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.90% of the company's stock.

Analyst Ratings Changes

SYK has been the topic of a number of research analyst reports. Wall Street Zen downgraded shares of Stryker from a "buy" rating to a "hold" rating in a research note on Friday, June 27th. Citigroup reaffirmed a "buy" rating and set a $455.00 price target (up from $443.00) on shares of Stryker in a research note on Thursday, May 22nd. Sanford C. Bernstein set a $450.00 target price on Stryker in a research report on Monday, May 5th. Truist Financial raised their price objective on Stryker from $390.00 to $400.00 and gave the stock a "hold" rating in a research report on Monday, May 5th. Finally, Needham & Company LLC restated a "buy" rating and issued a $442.00 price objective on shares of Stryker in a report on Friday, March 21st. Five analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $428.55.

Stryker Trading Up 0.7%

NYSE:SYK traded up $2.62 during mid-day trading on Thursday, hitting $394.67. The company had a trading volume of 1,167,734 shares, compared to its average volume of 1,352,604. The business's fifty day moving average is $384.57 and its two-hundred day moving average is $376.97. The firm has a market cap of $150.64 billion, a P/E ratio of 53.33, a P/E/G ratio of 2.96 and a beta of 0.91. Stryker Corporation has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. 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 (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, topping analysts' consensus estimates of $2.73 by $0.11. Stryker had a net margin of 12.31% and a return on equity of 23.74%. 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 posted $2.50 earnings per share. The business's quarterly revenue was up 11.9% compared to the same quarter last year. As a group, research analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

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

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.