Pictet Asset Management Holding SA raised its position in shares of Stryker Corporation (NYSE:SYK – Free Report) by 0.4% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 403,309 shares of the medical technology company’s stock after purchasing an additional 1,699 shares during the period. Pictet Asset Management Holding SA’s holdings in Stryker were worth $111,067,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the business. United Advisor Group LLC grew its holdings in Stryker by 18.2% in the third quarter. United Advisor Group LLC now owns 929 shares of the medical technology company’s stock worth $256,000 after purchasing an additional 143 shares during the period. Plancorp LLC increased its stake in shares of Stryker by 11.7% during the third quarter. Plancorp LLC now owns 810 shares of the medical technology company’s stock valued at $236,000 after purchasing an additional 85 shares in the last quarter. Waycross Partners LLC purchased a new position in shares of Stryker during the third quarter valued at approximately $27,850,000. Alps Advisors Inc. lifted its holdings in shares of Stryker by 97.9% during the third quarter. Alps Advisors Inc. now owns 16,519 shares of the medical technology company’s stock valued at $4,549,000 after purchasing an additional 8,173 shares during the last quarter. Finally, CenterBook Partners LP lifted its holdings in shares of Stryker by 129.5% during the third quarter. CenterBook Partners LP now owns 1,928 shares of the medical technology company’s stock valued at $531,000 after purchasing an additional 1,088 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.
Insider Activity at Stryker
In related news, Director Ronda Stryker sold 50,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the director owned 2,251,375 shares of the company’s stock, valued at $765,692,637.50. This trade represents a 2.17% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Debra King sold 826 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $336.30, for a total transaction of $277,783.80. Following the completion of the transaction, the insider owned 6,210 shares of the company’s stock, valued at approximately $2,088,423. The trade was a 11.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 351,267 shares of company stock valued at $118,197,701 over the last 90 days. Corporate insiders own 4.60% of the company’s stock.
Stryker Stock Down 0.2%
NYSE:SYK opened at $325.26 on Monday. The firm has a market cap of $123.83 billion, a P/E ratio of 34.64, a P/E/G ratio of 2.24 and a beta of 0.78. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.30 and a current ratio of 2.18. Stryker Corporation has a fifty-two week low of $267.00 and a fifty-two week high of $389.33. The firm has a 50-day simple moving average of $292.37 and a two-hundred day simple moving average of $323.59.
Stryker (NYSE:SYK – Get Free Report) last issued its earnings results on Thursday, October 29th. The medical technology company reported $3.52 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.55 by ($0.03). The firm had revenue of $6.52 billion during the quarter, compared to analysts’ expectations of $6.62 billion. Stryker had a return on equity of 23.74% and a net margin of 13.78%. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the firm posted $3.19 earnings per share. Analysts predict that Stryker Corporation will post 14.84 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several analysts recently weighed in on SYK shares. Johnson Rice downgraded Stryker to a “hold” rating in a research note on Friday, October 30th. Canaccord Genuity Group lowered Stryker from a “buy” rating to a “hold” rating and reduced their price objective for the company from $385.00 to $300.00 in a research report on Friday, October 30th. BMO Capital Markets reiterated an “outperform” rating and set a $309.00 price objective (down from $317.00) on shares of Stryker in a research note on Friday, October 30th. Raymond James Financial reissued an “outperform” rating and issued a $323.00 target price (down from $370.00) on shares of Stryker in a report on Friday, October 30th. Finally, Stifel Nicolaus dropped their target price on Stryker from $330.00 to $325.00 and set a “buy” rating on the stock in a report on Monday, November 2nd. Twenty-one equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Stryker presently has an average rating of “Moderate Buy” and a consensus price target of $343.73.
Read Our Latest Report on Stryker
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.
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