Banque Pictet & Cie SA Trims Stock Position in Stryker Corporation $SYK

Banque Pictet & Cie SA cut its holdings in shares of Stryker Corporation (NYSE:SYK) by 1.1% in the second quarter, HoldingsChannel reports. The firm owned 178,274 shares of the medical technology company’s stock after selling 1,992 shares during the period. Stryker accounts for about 0.5% of Banque Pictet & Cie SA’s holdings, making the stock its 26th biggest holding. Banque Pictet & Cie SA’s holdings in Stryker were worth $70,531,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Stryker by 1.1% during the first quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company’s stock valued at $12,306,572,000 after acquiring an additional 361,136 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of Stryker by 9.2% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company’s stock worth $4,515,847,000 after purchasing an additional 1,021,496 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Stryker by 13.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company’s stock valued at $838,640,000 after purchasing an additional 261,058 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Stryker by 4.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,086,960 shares of the medical technology company’s stock valued at $776,871,000 after purchasing an additional 83,954 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in Stryker by 43,226.8% during the first quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company’s stock worth $772,390,000 after buying an additional 2,070,133 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Stryker news, insider Viju Menon sold 500 shares of the stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $390.61, for a total value of $195,305.00. Following the completion of the sale, the insider owned 12,511 shares in the company, valued at approximately $4,886,921.71. This represents a 3.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronda E. Stryker sold 200,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total transaction of $75,290,000.00. Following the completion of the transaction, the director directly owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SYK shares. Wall Street Zen raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Friday, July 18th. Redburn Partners set a $420.00 price target on Stryker in a research note on Thursday, September 18th. Truist Financial set a $415.00 price target on Stryker and gave the stock a “hold” rating in a report on Monday, August 4th. Rothschild & Co Redburn began coverage on Stryker in a report on Thursday, September 18th. They issued a “neutral” rating and a $420.00 price objective on the stock. Finally, Evercore ISI upped their target price on Stryker from $390.00 to $415.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 8th. Fourteen equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and a consensus price target of $430.33.

Stryker Stock Performance

NYSE SYK opened at $368.64 on Friday. The company has a market cap of $140.93 billion, a PE ratio of 48.83, a price-to-earnings-growth ratio of 2.68 and a beta of 0.93. The stock’s 50 day simple moving average is $386.11 and its 200-day simple moving average is $378.95. Stryker Corporation has a 1-year low of $329.16 and a 1-year high of $406.19. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, topping the consensus estimate of $3.07 by $0.06. The firm had revenue of $6.02 billion during the quarter, compared to analysts’ expectations of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, equities research analysts anticipate that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be given a dividend of $0.84 per share. The ex-dividend date is Tuesday, September 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. Stryker’s payout ratio is presently 44.50%.

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.