Pegasus Asset Management Inc. Sells 98 Shares of Stryker Co. (NYSE:SYK)

Pegasus Asset Management Inc. lessened its holdings in shares of Stryker Co. (NYSE:SYK) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,611 shares of the medical technology company’s stock after selling 98 shares during the quarter. Pegasus Asset Management Inc.’s holdings in Stryker were worth $1,660,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Dunhill Financial LLC grew its holdings in shares of Stryker by 94.9% during the 3rd 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. Darwin Wealth Management LLC bought a new stake in shares of Stryker during the third quarter valued at approximately $36,000. Activest Wealth Management bought a new position in Stryker in the fourth quarter worth $36,000. Crews Bank & Trust bought a new stake in shares of Stryker during the 4th quarter valued at $39,000. Finally, Hara Capital LLC bought a new stake in Stryker during the third quarter worth about $42,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Up 0.1 %

Stryker stock opened at $385.44 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95. Stryker Co. has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The company has a market cap of $147.08 billion, a PE ratio of 49.67, a PEG ratio of 2.90 and a beta of 0.96. The business’s 50-day simple moving average is $377.44 and its two-hundred day simple moving average is $367.94.

Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter last year, the company posted $3.46 earnings per share. Equities analysts anticipate that Stryker Co. will post 13.49 EPS for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 0.87%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s dividend payout ratio (DPR) is 43.30%.

Insider Buying and Selling at Stryker

In other news, Director Ronda E. Stryker sold 201,392 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $392.24, for a total value of $78,993,998.08. Following the completion of the sale, the director now directly owns 3,642,075 shares in the company, valued at $1,428,567,498. The trade was a 5.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 5.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on SYK shares. Needham & Company LLC reiterated a “buy” rating and issued a $442.00 price target on shares of Stryker in a research note on Wednesday, January 29th. Royal Bank of Canada boosted their target price on Stryker from $425.00 to $435.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. increased their price target on Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Canaccord Genuity Group upped their price objective on Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Finally, Truist Financial raised their price objective on Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $420.68.

Stryker Company 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.