Mirabaud & Cie SA Sells 320 Shares of Stryker Co. (NYSE:SYK)

Mirabaud & Cie SA decreased its holdings in Stryker Co. (NYSE:SYK) by 4.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,490 shares of the medical technology company’s stock after selling 320 shares during the period. Stryker makes up 0.7% of Mirabaud & Cie SA’s portfolio, making the stock its 28th largest holding. Mirabaud & Cie SA’s holdings in Stryker were worth $2,337,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Dunhill Financial LLC grew its holdings in shares of Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 37 shares during the period. Centennial Bank AR increased its holdings in Stryker by 106.7% during the second quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock valued at $32,000 after buying an additional 48 shares during the last quarter. Darwin Wealth Management LLC bought a new position in Stryker in the third quarter worth approximately $36,000. HBW Advisory Services LLC purchased a new position in shares of Stryker during the 3rd quarter worth $42,000. Finally, Hara Capital LLC bought a new stake in shares of Stryker during the 3rd quarter valued at $42,000. Institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

SYK has been the topic of a number of recent research reports. Piper Sandler reaffirmed an “overweight” rating and issued a $420.00 target price (up from $380.00) on shares of Stryker in a report on Wednesday, October 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $425.00 price objective on shares of Stryker in a research report on Tuesday, January 7th. JPMorgan Chase & Co. raised their target price on shares of Stryker from $375.00 to $420.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Morgan Stanley raised shares of Stryker from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $370.00 to $445.00 in a research note on Monday, December 2nd. Finally, JMP Securities reiterated a “market perform” rating on shares of Stryker in a research note on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $405.80.

Insider Buying and Selling at Stryker

In other Stryker news, CEO Kevin Lobo sold 57,313 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $368.70, for a total transaction of $21,131,303.10. Following the completion of the transaction, the chief executive officer now directly owns 100,027 shares of the company’s stock, valued at approximately $36,879,954.90. This trade represents a 36.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 5.50% of the stock is currently owned by company insiders.

Stryker Stock Up 3.2 %

NYSE SYK opened at $395.86 on Wednesday. The firm has a market capitalization of $150.91 billion, a price-to-earnings ratio of 42.43, a PEG ratio of 2.63 and a beta of 0.95. Stryker Co. has a 52 week low of $307.23 and a 52 week high of $398.20. The company has a quick ratio of 1.22, a current ratio of 1.91 and a debt-to-equity ratio of 0.66. The company has a fifty day moving average of $375.61 and a two-hundred day moving average of $359.53.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.10. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm had revenue of $5.49 billion during the quarter, compared to analysts’ expectations of $5.37 billion. During the same quarter last year, the firm earned $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 Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.84 dividend. The ex-dividend date is Tuesday, December 31st. This is a boost from Stryker’s previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a yield of 0.85%. Stryker’s dividend payout ratio (DPR) is 36.01%.

About Stryker

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.