Bank Pictet & Cie Europe AG Cuts Stake in Stryker Co. (NYSE:SYK)

Bank Pictet & Cie Europe AG reduced its position in Stryker Co. (NYSE:SYK) by 27.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,295 shares of the medical technology company’s stock after selling 483 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Stryker were worth $466,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of SYK. Parnassus Investments LLC purchased a new position in Stryker in the third quarter worth $762,798,000. International Assets Investment Management LLC grew its holdings in Stryker by 66,967.5% in the third quarter. International Assets Investment Management LLC now owns 853,769 shares of the medical technology company’s stock worth $308,433,000 after purchasing an additional 852,496 shares during the last quarter. RTW Investments LP purchased a new position in Stryker in the third quarter worth $143,392,000. State Street Corp grew its holdings in Stryker by 2.2% in the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after purchasing an additional 316,404 shares during the last quarter. Finally, FMR LLC grew its holdings in Stryker by 3.0% in the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after purchasing an additional 215,782 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SYK shares. BTIG Research lifted their price objective on shares of Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Stifel Nicolaus lifted their price objective on shares of Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. JMP Securities reiterated a “market perform” rating on shares of Stryker in a research note on Tuesday, January 7th. Robert W. Baird lifted their price objective on shares of Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, Canaccord Genuity Group lifted their price objective on shares of Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $420.68.

Stryker Stock Down 0.9 %

SYK opened at $385.05 on Friday. Stryker Co. 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 0.59, a quick ratio of 1.32 and a current ratio of 1.95. The company has a fifty day moving average of $377.31 and a two-hundred day moving average of $366.66. The stock has a market capitalization of $146.79 billion, a price-to-earnings ratio of 49.62, a PEG ratio of 2.98 and a beta of 0.96.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period in the previous year, the business earned $3.46 earnings per share. On average, research analysts expect that Stryker Co. will post 13.49 earnings per share for the current year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.87%. Stryker’s dividend payout ratio is currently 43.30%.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 201,392 shares of the business’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the sale, the director now owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.90% of the company’s stock.

Stryker Company 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.