Pegasus Asset Management Inc. Grows Position in Stryker Co. (NYSE:SYK)

Pegasus Asset Management Inc. boosted its stake in shares of Stryker Co. (NYSE:SYK) by 1.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,709 shares of the medical technology company’s stock after buying an additional 64 shares during the quarter. Pegasus Asset Management Inc.’s holdings in Stryker were worth $1,701,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Koshinski Asset Management Inc. bought a new stake in shares of Stryker in the 1st quarter valued at about $795,000. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Stryker by 43.1% in the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 18,491 shares of the medical technology company’s stock valued at $6,617,000 after purchasing an additional 5,565 shares in the last quarter. Norden Group LLC bought a new stake in shares of Stryker in the 1st quarter valued at about $4,027,000. BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of Stryker by 38.5% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,796 shares of the medical technology company’s stock valued at $7,084,000 after purchasing an additional 5,502 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC raised its holdings in shares of Stryker by 78.9% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 133,020 shares of the medical technology company’s stock valued at $45,260,000 after purchasing an additional 58,673 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

NYSE SYK traded down $0.80 during mid-day trading on Tuesday, reaching $366.45. 310,629 shares of the stock were exchanged, compared to its average volume of 1,247,236. The business’s 50 day moving average is $356.63 and its 200-day moving average is $343.34. Stryker Co. has a 1 year low of $255.22 and a 1 year high of $374.63. The company has a market capitalization of $139.60 billion, a P/E ratio of 41.92, a P/E/G ratio of 2.85 and a beta of 0.91. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The firm’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same period in the prior year, the business posted $2.54 earnings per share. On average, equities research analysts forecast that Stryker Co. will post 12 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.87%. The ex-dividend date is Monday, September 30th. Stryker’s dividend payout ratio (DPR) is 36.53%.

Insider Activity

In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the sale, the chief financial officer now directly owns 2,852 shares in the company, valued at $949,716. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the sale, the chief financial officer now owns 2,852 shares of the company’s stock, valued at approximately $949,716. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP M Kathryn Fink sold 2,121 shares of the company’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $370.00, for a total transaction of $784,770.00. Following the completion of the sale, the vice president now directly owns 10,042 shares of the company’s stock, valued at $3,715,540. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 220,068 shares of company stock worth $71,811,372 over the last three months. Insiders own 5.90% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on SYK. Morgan Stanley boosted their price objective on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. BTIG Research boosted their price objective on shares of Stryker from $374.00 to $383.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research report on Tuesday, October 1st. Royal Bank of Canada reissued an “outperform” rating and set a $386.00 target price on shares of Stryker in a research report on Wednesday, July 31st. Finally, Wolfe Research started coverage on shares of Stryker in a research report on Tuesday, September 10th. They set an “outperform” rating and a $405.00 target price on the stock. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, Stryker presently has an average rating of “Moderate Buy” and an average target price of $381.16.

Stryker 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.