Bank Pictet & Cie Europe AG Sells 8,958 Shares of Stryker Corporation $SYK

Bank Pictet & Cie Europe AG trimmed its position in shares of Stryker Corporation (NYSE:SYK) by 6.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 137,401 shares of the medical technology company’s stock after selling 8,958 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in Stryker were worth $37,839,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp lifted its stake in shares of Stryker by 1.2% in the 2nd quarter. State Street Corp now owns 15,532,565 shares of the medical technology company’s stock valued at $4,903,772,000 after purchasing an additional 183,400 shares during the period. Wellington Management Group LLP boosted its position in shares of Stryker by 0.6% during the second quarter. Wellington Management Group LLP now owns 8,167,185 shares of the medical technology company’s stock valued at $2,571,357,000 after purchasing an additional 45,478 shares in the last quarter. Bank of America Corp DE purchased a new stake in Stryker in the second quarter worth $1,404,284,000. Royal Bank of Canada grew its stake in Stryker by 6.5% in the first quarter. Royal Bank of Canada now owns 3,273,232 shares of the medical technology company’s stock worth $1,075,552,000 after purchasing an additional 199,863 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Stryker by 21.8% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,689,376 shares of the medical technology company’s stock worth $846,723,000 after purchasing an additional 481,175 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling

In related news, Director Ronda Stryker sold 300,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $335.90, for a total value of $100,770,000.00. Following the transaction, the director directly owned 2,301,375 shares of the company’s stock, valued at approximately $773,031,862.50. This represents a 11.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Dylan Crotty sold 441 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $328.61, for a total value of $144,917.01. Following the sale, the insider owned 6,102 shares in the company, valued at approximately $2,005,178.22. This represents a 6.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 351,267 shares of company stock worth $118,197,701 in the last three months. Insiders own 4.60% of the company’s stock.

Wall Street Analysts Forecast Growth

SYK has been the topic of a number of research reports. Wall Street Zen cut shares of Stryker from a “buy” rating to a “hold” rating in a report on Saturday, October 3rd. Stifel Nicolaus decreased their price target on shares of Stryker from $360.00 to $330.00 and set a “buy” rating for the company in a research note on Wednesday, September 30th. Raymond James Financial set a $370.00 price target on shares of Stryker in a research note on Friday, July 31st. Evercore set a $350.00 price target on shares of Stryker in a research report on Monday, July 6th. Finally, Canaccord Genuity Group dropped their price objective on shares of Stryker from $400.00 to $385.00 and set a “buy” rating on the stock in a research note on Friday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $369.00.

Stryker Stock Up 2.0%

SYK stock traded up $5.92 during trading on Tuesday, hitting $303.86. 1,026,447 shares of the stock traded hands, compared to its average volume of 2,445,313. The stock has a market cap of $116.55 billion, a price-to-earnings ratio of 31.50, a price-to-earnings-growth ratio of 1.87 and a beta of 0.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.16 and a quick ratio of 1.33. Stryker Corporation has a 1 year low of $267.00 and a 1 year high of $392.55. The firm’s 50 day moving average is $298.39 and its two-hundred day moving average is $312.55.

Stryker (NYSE:SYK) last issued its earnings results on Thursday, July 30th. The medical technology company reported $3.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.49 by $0.20. The business had revenue of $6.59 billion during the quarter, compared to analysts’ expectations of $6.58 billion. Stryker had a net margin of 14.43% and a return on equity of 23.63%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.13 earnings per share. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. On average, sell-side analysts anticipate that Stryker Corporation will post 14.93 EPS for the current year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, September 30th. Stryker’s payout ratio is presently 36.48%.

Stryker Profile

Stryker Corporation (NYSE: SYK) is a global medical technology company that develops and manufactures products used by healthcare providers in hospitals, surgical centers and other clinical settings. Its offerings are designed to support orthopaedic procedures, surgery, emergency care, neurovascular treatment and patient handling.

The company’s product portfolio includes orthopaedic implants and instruments, products for trauma and spine procedures, surgical equipment, endoscopy systems, patient beds and stretchers, emergency medical equipment, and neurovascular devices used in the treatment of conditions such as stroke.