Banque Pictet & Cie SA boosted its position in Stryker Corporation (NYSE:SYK - Free Report) by 646.9% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 180,266 shares of the medical technology company's stock after acquiring an additional 156,132 shares during the period. Stryker accounts for approximately 0.5% of Banque Pictet & Cie SA's 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.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Capital A Wealth Management LLC bought a new stake in shares of Stryker during the fourth quarter valued at about $26,000. Rakuten Securities Inc. increased its position in shares of Stryker by 618.2% during the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock valued at $28,000 after buying an additional 68 shares during the period. Goodman Advisory Group LLC bought a new stake in shares of Stryker during the first quarter valued at about $32,000. City Holding Co. increased its position in shares of Stryker by 528.6% during the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock valued at $33,000 after buying an additional 74 shares during the period. Finally, VSM Wealth Advisory LLC bought a new stake in shares of Stryker during the fourth quarter valued at about $36,000. 77.09% of the stock is currently owned by institutional investors.
Insider Activity at Stryker
In related news, Director Ronda E. Stryker sold 200,000 shares of the company's stock in a transaction that occurred on 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 $1,288,195,208.96. This represents a 5.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 5.90% of the stock is currently owned by corporate insiders.
Analyst Ratings Changes
Several brokerages have recently weighed in on SYK. Sanford C. Bernstein set a $450.00 price target on Stryker in a research report on Monday, May 5th. Citigroup reissued a "buy" rating and set a $455.00 price objective (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Needham & Company LLC reissued a "buy" rating and set a $442.00 price objective on shares of Stryker in a report on Friday, March 21st. Wall Street Zen lowered Stryker from a "buy" rating to a "hold" rating in a report on Friday, June 27th. Finally, Roth Mkm boosted their price objective on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Five research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $428.55.
Read Our Latest Research Report on Stryker
Stryker Trading Down 1.4%
SYK stock traded down $5.53 during midday trading on Friday, hitting $389.24. The company had a trading volume of 825,133 shares, compared to its average volume of 1,354,569. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. Stryker Corporation has a 52 week low of $314.93 and a 52 week high of $406.19. The stock's 50 day moving average price is $384.79 and its 200 day moving average price is $377.14. The stock has a market cap of $148.57 billion, a price-to-earnings ratio of 52.60, a PEG ratio of 2.94 and a beta of 0.91.
Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.73 by $0.11. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter in the previous year, the company posted $2.50 earnings per share. The business's revenue was up 11.9% on a year-over-year basis. As a group, equities research analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.
Stryker Dividend Announcement
The firm 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 dividend of $0.84 per share. The ex-dividend date is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.86%. Stryker's dividend payout ratio is presently 45.41%.
About Stryker
(
Free Report)
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.
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