Mirabaud & Cie SA Sells 3,810 Shares of Stryker Corporation $SYK

Mirabaud & Cie SA decreased its holdings in Stryker Corporation (NYSE:SYK) by 66.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,925 shares of the medical technology company’s stock after selling 3,810 shares during the period. Mirabaud & Cie SA’s holdings in Stryker were worth $712,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Norges Bank bought a new position in shares of Stryker in the second quarter worth about $1,882,173,000. Alliancebernstein L.P. increased its position in Stryker by 307.6% during the 2nd quarter. Alliancebernstein L.P. now owns 5,596,508 shares of the medical technology company’s stock worth $2,214,146,000 after purchasing an additional 4,223,366 shares in the last quarter. Corient Private Wealth LLC increased its position in Stryker by 104.4% during the 2nd quarter. Corient Private Wealth LLC now owns 2,245,841 shares of the medical technology company’s stock worth $887,525,000 after purchasing an additional 1,146,998 shares in the last quarter. ABN AMRO Bank N.V. bought a new position in Stryker in the 2nd quarter valued at approximately $191,047,000. Finally, Vanguard Group Inc. boosted its position in Stryker by 1.3% in the second quarter. Vanguard Group Inc. now owns 33,500,571 shares of the medical technology company’s stock valued at $13,253,831,000 after buying an additional 440,607 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Preston Wendell Wells sold 165 shares of the stock in a transaction on Thursday, November 20th. The stock was sold at an average price of $365.88, for a total value of $60,370.20. Following the transaction, the chief financial officer directly owned 6,694 shares in the company, valued at $2,449,200.72. This trade represents a 2.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Ronda E. Stryker sold 276,173 shares of the stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $353.28, for a total value of $97,566,397.44. Following the completion of the sale, the director directly owned 2,702,108 shares of the company’s stock, valued at approximately $954,600,714.24. This trade represents a 9.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 522,118 shares of company stock worth $185,381,932 over the last quarter. 5.90% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of research reports. Barclays increased their price target on Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. Truist Financial dropped their target price on Stryker from $400.00 to $392.00 and set a “hold” rating for the company in a research report on Thursday, December 18th. Rothschild & Co Redburn initiated coverage on shares of Stryker in a report on Thursday, September 18th. They set a “neutral” rating and a $420.00 target price on the stock. Sanford C. Bernstein reissued an “outperform” rating on shares of Stryker in a research note on Monday, November 3rd. Finally, Citigroup lowered their target price on Stryker from $455.00 to $420.00 and set a “buy” rating for the company in a research report on Thursday, December 11th. Thirteen equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $431.84.

Stryker Price Performance

SYK stock opened at $354.54 on Friday. The company has a quick ratio of 1.13, a current ratio of 1.85 and a debt-to-equity ratio of 0.68. The company’s fifty day simple moving average is $364.19 and its 200 day simple moving average is $376.74. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $406.19. The firm has a market cap of $135.58 billion, a price-to-earnings ratio of 46.59, a PEG ratio of 2.51 and a beta of 0.89.

Stryker (NYSE:SYK) last announced its earnings results on Friday, October 31st. The medical technology company reported $3.19 EPS for the quarter, beating the consensus estimate of $3.13 by $0.06. The company had revenue of $6.06 billion for the quarter, compared to analyst estimates of $6.04 billion. Stryker had a return on equity of 24.07% and a net margin of 12.07%.The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.87 EPS. On average, analysts expect that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.0%. This is a boost from Stryker’s previous quarterly dividend of $0.84. The ex-dividend date of this dividend is Wednesday, December 31st. Stryker’s payout ratio is 44.15%.

About Stryker

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.