Banque Pictet & Cie SA Cuts Stock Holdings in Stryker Co. (NYSE:SYK)

Banque Pictet & Cie SA cut its holdings in shares of Stryker Co. (NYSE:SYK) by 25.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 24,134 shares of the medical technology company’s stock after selling 8,139 shares during the period. Banque Pictet & Cie SA’s holdings in Stryker were worth $8,689,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of SYK. V Square Quantitative Management LLC grew its holdings in Stryker by 7.5% in the fourth quarter. V Square Quantitative Management LLC now owns 5,799 shares of the medical technology company’s stock valued at $2,088,000 after purchasing an additional 403 shares during the period. Figure 8 Investment Strategies LLC acquired a new stake in Stryker in the 4th quarter valued at $1,710,000. Catalyst Financial Partners LLC grew its stake in Stryker by 5.6% in the 4th quarter. Catalyst Financial Partners LLC now owns 1,450 shares of the medical technology company’s stock valued at $522,000 after acquiring an additional 77 shares during the period. Asset Management One Co. Ltd. increased its holdings in Stryker by 0.8% in the 4th quarter. Asset Management One Co. Ltd. now owns 133,843 shares of the medical technology company’s stock worth $49,135,000 after acquiring an additional 1,106 shares in the last quarter. Finally, Aljian Capital Management LLC raised its position in Stryker by 7.0% during the fourth quarter. Aljian Capital Management LLC now owns 13,493 shares of the medical technology company’s stock worth $4,858,000 after acquiring an additional 888 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Stock Up 0.7 %

Shares of SYK opened at $388.28 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. The firm has a market cap of $148.02 billion, a P/E ratio of 50.04, a price-to-earnings-growth ratio of 2.98 and a beta of 0.96. The company’s 50-day moving average price is $377.19 and its 200 day moving average price is $366.15. Stryker Co. has a 12-month low of $314.93 and a 12-month high of $406.19.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping 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 quarter in the previous year, the company posted $3.46 earnings per share. On average, sell-side analysts forecast that Stryker Co. will post 13.49 earnings per share for the current year.

Stryker Dividend Announcement

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

Analysts Set New Price Targets

SYK has been the subject of a number of research reports. Barclays boosted their target price on shares of Stryker from $418.00 to $443.00 and gave the stock an “overweight” rating in a research note on Monday. Evercore ISI increased their target price on Stryker from $380.00 to $384.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $442.00 price target on shares of Stryker in a research note on Wednesday, January 29th. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research note on Thursday, January 30th. Finally, UBS Group raised their price objective on Stryker from $366.00 to $370.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Stryker has a consensus rating of “Moderate Buy” and an average target price of $420.68.

Insider Activity

In related news, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $392.24, for a total value of $78,993,998.08. Following the sale, the director now owns 3,642,075 shares of the company’s stock, valued at $1,428,567,498. This trade represents a 5.24 % 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. Company insiders own 5.90% of the company’s stock.

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.