Bank Pictet & Cie Europe AG Has $58.30 Million Stake in Stryker Corporation $SYK

Bank Pictet & Cie Europe AG increased its stake in shares of Stryker Corporation (NYSE:SYK) by 35.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 147,365 shares of the medical technology company’s stock after purchasing an additional 38,612 shares during the quarter. Stryker makes up approximately 1.2% of Bank Pictet & Cie Europe AG’s portfolio, making the stock its 21st largest position. Bank Pictet & Cie Europe AG’s holdings in Stryker were worth $58,302,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SYK. Goodman Advisory Group LLC acquired a new position in shares of Stryker in the first quarter worth $32,000. City Holding Co. grew its stake in Stryker by 528.6% in the first quarter. City Holding Co. now owns 88 shares of the medical technology company’s stock valued at $33,000 after purchasing an additional 74 shares in the last quarter. Ridgewood Investments LLC increased its position in Stryker by 48.4% in the 2nd quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock worth $36,000 after purchasing an additional 30 shares during the last quarter. Ransom Advisory Ltd purchased a new stake in shares of Stryker during the 1st quarter worth about $37,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in shares of Stryker during the 1st quarter valued at about $40,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Price Performance

NYSE SYK opened at $368.64 on Friday. Stryker Corporation has a twelve month low of $329.16 and a twelve month high of $406.19. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. The stock has a market capitalization of $140.93 billion, a PE ratio of 48.83, a P/E/G ratio of 2.68 and a beta of 0.93. The stock has a 50-day simple moving average of $386.11 and a 200 day simple moving average of $378.95.

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

Stryker Announces Dividend

The firm also recently disclosed 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. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker’s payout ratio is currently 44.50%.

Analysts Set New Price Targets

SYK has been the topic of a number of research reports. Evercore ISI increased their price objective on Stryker from $390.00 to $415.00 and gave the stock an “outperform” rating in a report on Tuesday, July 8th. Needham & Company LLC raised their price target on shares of Stryker from $442.00 to $448.00 and gave the company a “buy” rating in a report on Friday, August 1st. BTIG Research reiterated a “buy” rating on shares of Stryker in a report on Monday, July 14th. Wall Street Zen upgraded Stryker from a “hold” rating to a “buy” rating in a report on Friday, July 18th. Finally, Rothschild Redb upgraded Stryker to a “hold” rating in a research note on Thursday, September 18th. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $430.33.

Insider Activity

In related news, Director Ronda E. Stryker sold 200,000 shares of the business’s stock in a transaction dated 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 owned 3,222,108 shares of the company’s stock, valued at approximately $1,212,962,556.60. The trade was a 5.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Viju Menon sold 500 shares of the business’s stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $390.61, for a total value of $195,305.00. Following the transaction, the insider directly owned 12,511 shares of the company’s stock, valued at $4,886,921.71. This represents a 3.84% decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

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.