Quintet Private Bank Europe S.A. Raises Stock Position in Stryker Co. (NYSE:SYK)

Quintet Private Bank Europe S.A. raised its stake in Stryker Co. (NYSE:SYK) by 24.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,230 shares of the medical technology company’s stock after purchasing an additional 1,418 shares during the period. Quintet Private Bank Europe S.A.’s holdings in Stryker were worth $2,612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Koshinski Asset Management Inc. purchased a new stake in Stryker during the 1st quarter valued at approximately $795,000. Envestnet Portfolio Solutions Inc. lifted its holdings in Stryker by 43.1% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock valued at $6,617,000 after acquiring an additional 5,565 shares during the period. BI Asset Management Fondsmaeglerselskab A S grew its stake in shares of Stryker by 38.5% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock worth $7,084,000 after purchasing an additional 5,502 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Stryker by 78.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock valued at $45,260,000 after purchasing an additional 58,673 shares during the period. Finally, M&G Plc purchased a new stake in Stryker during the first quarter worth about $11,534,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Stryker Trading Down 0.1 %

Shares of NYSE SYK traded down $0.43 during midday trading on Monday, hitting $366.72. The stock had a trading volume of 89,305 shares, compared to its average volume of 1,253,533. The company has a fifty day moving average price of $360.18 and a 200 day moving average price of $344.36. The company has a market capitalization of $139.80 billion, a price-to-earnings ratio of 39.35, a PEG ratio of 2.69 and a beta of 0.91. Stryker Co. has a 1-year low of $266.93 and a 1-year high of $374.63. The company has a quick ratio of 0.95, a current ratio of 1.91 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last posted its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, beating the consensus estimate of $2.77 by $0.10. Stryker had a net margin of 16.34% and a return on equity of 23.07%. The business had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. During the same quarter in the previous year, the business posted $2.46 EPS. The business’s quarterly revenue was up 11.9% on a year-over-year basis. On average, analysts predict that Stryker Co. will post 12.06 earnings per share for the current year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 31st. Investors of record on Monday, September 30th were issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 0.87%. The ex-dividend date was Monday, September 30th. Stryker’s payout ratio is 34.30%.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 190,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the sale, the director now owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP M Kathryn Fink sold 2,121 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $370.00, for a total value of $784,770.00. Following the completion of the sale, the vice president now directly owns 10,042 shares in the company, valued at approximately $3,715,540. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 200,068 shares of company stock worth $65,151,372 in the last quarter. 5.90% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on SYK shares. BTIG Research upped their price target on Stryker from $383.00 to $394.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Wells Fargo & Company raised their target price on shares of Stryker from $381.00 to $405.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. upped their price target on shares of Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Evercore ISI raised their price objective on shares of Stryker from $380.00 to $384.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, StockNews.com raised Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $393.65.

Stryker 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.