Banque Pictet & Cie SA acquired a new stake in shares of Stryker Corporation (NYSE:SYK) during the first quarter, Holdings Channel reports. The fund acquired 7,550 shares of the medical technology company’s stock, valued at approximately $994,000.
A number of other large investors also recently added to or reduced their stakes in SYK. Personal Capital Advisors Corp bought a new stake in Stryker Corporation during the first quarter valued at about $267,000. British Columbia Investment Management Corp raised its stake in Stryker Corporation by 10.7% in the first quarter. British Columbia Investment Management Corp now owns 133,596 shares of the medical technology company’s stock valued at $17,588,000 after buying an additional 12,871 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in Stryker Corporation by 462.7% in the first quarter. BNP Paribas Arbitrage SA now owns 252,230 shares of the medical technology company’s stock valued at $33,206,000 after buying an additional 207,409 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Stryker Corporation by 276.9% in the first quarter. JPMorgan Chase & Co. now owns 269,555 shares of the medical technology company’s stock valued at $35,487,000 after buying an additional 198,035 shares in the last quarter. Finally, Arrow Financial Corp raised its stake in Stryker Corporation by 36.6% in the first quarter. Arrow Financial Corp now owns 20,375 shares of the medical technology company’s stock valued at $2,682,000 after buying an additional 5,460 shares in the last quarter. 74.26% of the stock is owned by institutional investors.
Shares of Stryker Corporation (NYSE SYK) opened at 146.84 on Tuesday. The company’s 50-day moving average is $142.16 and its 200-day moving average is $133.34. The stock has a market capitalization of $54.88 billion, a P/E ratio of 33.00 and a beta of 0.79. Stryker Corporation has a one year low of $106.48 and a one year high of $148.15.
Stryker Corporation (NYSE:SYK) last announced its quarterly earnings data on Tuesday, April 25th. The medical technology company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.05. The company had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.90 billion. Stryker Corporation had a net margin of 14.33% and a return on equity of 24.26%. Stryker Corporation’s revenue was up 18.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.24 EPS. On average, equities research analysts anticipate that Stryker Corporation will post $6.43 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Friday, June 30th will be paid a $0.425 dividend. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $1.70 annualized dividend and a yield of 1.16%. Stryker Corporation’s dividend payout ratio is currently 38.20%.
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SYK has been the subject of several recent research reports. Cowen and Company set a $150.00 price target on shares of Stryker Corporation and gave the company an “outperform” rating in a report on Wednesday, April 26th. Morgan Stanley restated an “overweight” rating and issued a $160.00 price target (up previously from $155.00) on shares of Stryker Corporation in a report on Monday, July 10th. Cantor Fitzgerald initiated coverage on shares of Stryker Corporation in a report on Thursday, June 29th. They issued a “neutral” rating and a $153.00 price target for the company. Zacks Investment Research upgraded shares of Stryker Corporation from a “hold” rating to a “buy” rating and set a $163.00 price target for the company in a report on Monday, July 17th. Finally, Royal Bank Of Canada restated an “outperform” rating and issued a $140.00 price target (up previously from $135.00) on shares of Stryker Corporation in a report on Wednesday, April 26th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the stock. Stryker Corporation currently has a consensus rating of “Hold” and a consensus price target of $140.13.
In other Stryker Corporation news, insider Timothy J. Scannell sold 13,322 shares of the business’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $135.89, for a total value of $1,810,326.58. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider David Floyd sold 7,381 shares of the business’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $144.70, for a total transaction of $1,068,030.70. The disclosure for this sale can be found here. Insiders sold a total of 40,008 shares of company stock worth $5,669,088 over the last three months. 7.40% of the stock is currently owned by corporate insiders.
Stryker Corporation Company Profile
Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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