J. Safra Sarasin Holding AG Lowers Holdings in Stryker Corporation $SYK

J. Safra Sarasin Holding AG decreased its holdings in shares of Stryker Corporation (NYSE:SYK) by 41.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,299 shares of the medical technology company’s stock after selling 1,657 shares during the quarter. J. Safra Sarasin Holding AG’s holdings in Stryker were worth $850,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Mid American Wealth Advisory Group Inc. purchased a new stake in Stryker in the 2nd quarter valued at about $26,000. Clayton Financial Group LLC purchased a new position in Stryker during the third quarter worth about $26,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Stryker during the second quarter valued at about $28,000. Sachetta LLC raised its stake in shares of Stryker by 58.7% in the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 27 shares during the period. Finally, Kilter Group LLC acquired a new position in shares of Stryker in the 2nd quarter worth approximately $29,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Insider Activity at Stryker

In other Stryker news, CFO Preston Wendell Wells sold 165 shares of the stock in a transaction that occurred on Thursday, November 20th. The shares were sold at an average price of $365.88, for a total value of $60,370.20. Following the sale, the chief financial officer directly owned 6,694 shares of the company’s stock, valued at approximately $2,449,200.72. This represents a 2.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Ronda E. Stryker sold 276,173 shares of the firm’s stock in a transaction on Thursday, November 6th. The shares were sold at an average price of $353.28, for a total transaction of $97,566,397.44. Following the completion of the sale, the director owned 2,702,108 shares in the company, valued at $954,600,714.24. The trade was a 9.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 522,118 shares of company stock valued at $185,381,932 over the last 90 days. 5.20% of the stock is owned by corporate insiders.

Stryker Stock Up 1.0%

Shares of NYSE SYK opened at $358.19 on Thursday. The stock has a market cap of $136.98 billion, a P/E ratio of 47.07, a PEG ratio of 2.27 and a beta of 0.89. The business’s fifty day simple moving average is $359.50 and its 200-day simple moving average is $372.07. Stryker Corporation has a 12-month low of $329.16 and a 12-month high of $404.87. The company has a current ratio of 1.85, a quick ratio of 1.13 and a debt-to-equity ratio of 0.68.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Friday, October 31st. The medical technology company reported $3.19 earnings per share for the quarter, topping the consensus estimate of $3.13 by $0.06. The company had revenue of $6.06 billion for the quarter, compared to the consensus estimate of $6.04 billion. Stryker had a return on equity of 24.07% and a net margin of 12.07%.Stryker’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.87 EPS. As a group, equities analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.88 per share. The ex-dividend date is Wednesday, December 31st. This is a positive change from Stryker’s previous quarterly dividend of $0.84. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.0%. Stryker’s payout ratio is currently 46.25%.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Piper Sandler reiterated an “overweight” rating on shares of Stryker in a report on Tuesday. Citizens Jmp raised Stryker from a “market perform” rating to an “outperform” rating and set a $440.00 price objective for the company in a research note on Friday, December 19th. Sanford C. Bernstein boosted their price objective on Stryker from $450.00 to $465.00 and gave the company an “outperform” rating in a report on Friday, January 9th. BTIG Research reissued a “buy” rating and set a $410.00 target price on shares of Stryker in a research note on Friday, November 14th. Finally, 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. Twelve research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $425.94.

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.