Pictet Asset Management Holding SA Cuts Stock Position in Stryker Co. (NYSE:SYK)

Pictet Asset Management Holding SA reduced its stake in shares of Stryker Co. (NYSE:SYK - Free Report) by 3.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 146,126 shares of the medical technology company's stock after selling 5,047 shares during the period. Pictet Asset Management Holding SA's holdings in Stryker were worth $52,613,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Norges Bank acquired a new stake in shares of Stryker in the 4th quarter worth $1,710,744,000. Raymond James Financial Inc. acquired a new stake in Stryker during the fourth quarter worth about $353,394,000. Proficio Capital Partners LLC boosted its holdings in Stryker by 52,520.8% in the 4th quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company's stock valued at $214,660,000 after purchasing an additional 595,061 shares during the last quarter. RTW Investments LP purchased a new stake in shares of Stryker in the 3rd quarter valued at approximately $143,392,000. Finally, State Street Corp increased its holdings in shares of Stryker by 2.2% during the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company's stock worth $5,279,788,000 after buying an additional 316,404 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Stryker Stock Up 1.2 %

SYK stock traded up $4.52 during trading on Wednesday, hitting $377.82. 1,486,037 shares of the company's stock were exchanged, compared to its average volume of 1,455,593. The business has a 50-day moving average price of $383.41 and a two-hundred day moving average price of $374.43. 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 stock has a market capitalization of $144.21 billion, a price-to-earnings ratio of 48.69, a PEG ratio of 2.93 and a beta of 0.95. Stryker Co. has a 52-week low of $314.93 and a 52-week high of $406.19.

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Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, topping the consensus estimate 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 prior year, the firm posted $3.46 earnings per share. As a group, equities research analysts expect that Stryker Co. will post 13.47 EPS for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Monday, March 31st. Stryker's payout ratio is currently 43.30%.

Insider Activity at Stryker

In related news, Director Allan C. Golston sold 2,458 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the completion of the sale, the director now owns 14,895 shares in the company, valued at $5,705,827.65. This represents a 14.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction on 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 transaction, the director now owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.50% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on SYK shares. Citigroup reiterated a "buy" rating and issued a $450.00 price objective on shares of Stryker in a research report on Wednesday, February 26th. Argus set a $450.00 price objective on Stryker in a research note on Monday, February 3rd. The Goldman Sachs Group set a $422.00 target price on Stryker in a research note on Tuesday, March 4th. JPMorgan Chase & Co. lifted their target price on Stryker from $420.00 to $445.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Finally, Canaccord Genuity Group increased their price target on shares of Stryker from $420.00 to $435.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $421.90.

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.