Stryker Corporation $SYK Stock: Pictet Asset Management Holding SA Increases Stake

Pictet Asset Management Holding SA grew its stake in shares of Stryker Corporation (NYSE:SYK) by 0.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 403,309 shares of the medical technology company’s stock after purchasing an additional 1,699 shares during the quarter. Pictet Asset Management Holding SA owned approximately 0.11% of Stryker worth $111,067,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Community Bank & Trust Waco Texas raised its holdings in Stryker by 2.3% during the 2nd quarter. Community Bank & Trust Waco Texas now owns 1,395 shares of the medical technology company’s stock valued at $439,000 after buying an additional 31 shares during the last quarter. Cornerstone Financial Management LLC boosted its position in Stryker by 66.0% during the 2nd quarter. Cornerstone Financial Management LLC now owns 78 shares of the medical technology company’s stock valued at $25,000 after buying an additional 31 shares during the period. NWF Advisory Services Inc. boosted its position in Stryker by 2.3% during the 2nd quarter. NWF Advisory Services Inc. now owns 1,472 shares of the medical technology company’s stock valued at $463,000 after buying an additional 33 shares during the period. Private Harbour Investment Management & Counsel LLC grew its holdings in Stryker by 0.9% in the 2nd quarter. Private Harbour Investment Management & Counsel LLC now owns 3,927 shares of the medical technology company’s stock worth $1,236,000 after acquiring an additional 34 shares during the last quarter. Finally, Natural Investments LLC grew its holdings in Stryker by 1.2% in the 2nd quarter. Natural Investments LLC now owns 2,789 shares of the medical technology company’s stock worth $878,000 after acquiring an additional 34 shares during the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Activity

In related news, insider Debra King sold 826 shares of the business’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $336.30, for a total transaction of $277,783.80. Following the transaction, the insider owned 6,210 shares in the company, valued at $2,088,423. The trade was a 11.74% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronda Stryker sold 50,000 shares of the business’s stock in a transaction dated Wednesday, August 19th. The shares were sold at an average price of $340.10, for a total transaction of $17,005,000.00. Following the transaction, the director owned 2,251,375 shares in the company, valued at $765,692,637.50. This represents a 2.17% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 351,267 shares of company stock valued at $118,197,701. Corporate insiders own 4.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on SYK. JPMorgan Chase & Co. decreased their price objective on shares of Stryker from $350.00 to $340.00 and set an “overweight” rating on the stock in a research report on Friday, October 30th. Raymond James Financial reiterated an “outperform” rating and set a $323.00 target price (down from $370.00) on shares of Stryker in a report on Friday, October 30th. Truist Financial reissued a “hold” rating and issued a $305.00 target price (down from $310.00) on shares of Stryker in a research note on Monday, November 2nd. Royal Bank Of Canada reduced their price target on Stryker from $420.00 to $375.00 and set an “outperform” rating on the stock in a report on Friday, October 30th. Finally, Leerink Partners lowered their price target on Stryker from $403.00 to $353.00 and set an “outperform” rating for the company in a research report on Friday, October 9th. Twenty-one investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $343.73.

Stryker Stock Performance

NYSE:SYK opened at $325.26 on Monday. The stock has a market cap of $123.83 billion, a P/E ratio of 34.64, a price-to-earnings-growth ratio of 2.24 and a beta of 0.78. The firm’s fifty day simple moving average is $292.37 and its 200 day simple moving average is $323.59. Stryker Corporation has a twelve month low of $267.00 and a twelve month high of $389.33. The company has a quick ratio of 1.30, a current ratio of 2.18 and a debt-to-equity ratio of 0.60.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Thursday, October 29th. The medical technology company reported $3.52 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.55 by ($0.03). Stryker had a net margin of 13.78% and a return on equity of 23.74%. The company had revenue of $6.52 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the previous year, the firm posted $3.19 earnings per share. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, research analysts predict that Stryker Corporation will post 14.84 EPS for the current year.

Stryker Company Profile

Stryker is a medical technology company that develops and sells products and services for healthcare providers. Its offerings include orthopedic implants and surgical equipment, neurotechnology and spine products, and medical and surgical equipment used in hospitals and other care settings.

The company’s products also include patient-handling and emergency medical equipment, as well as instruments and technologies that support surgical procedures. Stryker serves healthcare customers in the United States and internationally.

Founded in 1941 by orthopedic surgeon Dr.