Pegasus Asset Management Inc. Has $1.66 Million Stock Holdings in Stryker Co. (NYSE:SYK)

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

A number of other hedge funds have also added to or reduced their stakes in SYK. State Street Corp increased its position in shares of Stryker by 2.2% during the 3rd quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after purchasing an additional 316,404 shares during the last quarter. FMR LLC boosted its stake in shares of Stryker by 3.0% during the 3rd quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after acquiring an additional 215,782 shares during the period. Geode Capital Management LLC boosted its position in Stryker by 2.5% during the third quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock worth $2,484,893,000 after purchasing an additional 165,490 shares during the period. Parnassus Investments LLC bought a new position in shares of Stryker in the third quarter valued at about $762,798,000. Finally, Janus Henderson Group PLC raised its holdings in Stryker by 1.5% in the 3rd quarter. Janus Henderson Group PLC now owns 1,969,757 shares of the medical technology company’s stock valued at $711,594,000 after acquiring an additional 28,421 shares during the period. Institutional investors own 77.09% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on SYK. Citigroup lifted their target price on Stryker from $411.00 to $450.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Robert W. Baird increased their price target on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. StockNews.com downgraded Stryker from a “buy” rating to a “hold” rating in a research report on Thursday, January 30th. Royal Bank of Canada boosted their price target on Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a research note on Wednesday, January 29th. Finally, Piper Sandler restated an “overweight” rating and issued a $420.00 target price (up from $380.00) on shares of Stryker in a research report on Wednesday, October 30th. Five research 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 currently has an average rating of “Moderate Buy” and an average target price of $420.68.

Insiders Place Their Bets

In other news, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This represents a 5.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 5.50% of the company’s stock.

Stryker Stock Performance

Shares of SYK opened at $385.44 on Wednesday. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The company has a market capitalization of $147.08 billion, a price-to-earnings ratio of 49.67, a PEG ratio of 2.90 and a beta of 0.96. The stock has a 50 day moving average of $377.44 and a 200 day moving average of $367.94. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS 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 in the previous year, the firm posted $3.46 EPS. As a group, sell-side analysts forecast that Stryker Co. will post 13.49 earnings per share for the current year.

Stryker Dividend Announcement

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

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.