Pegasus Asset Management Inc. increased its holdings in Stryker Corporation (NYSE:SYK – Free Report) by 117.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,081 shares of the medical technology company’s stock after buying an additional 6,518 shares during the period. Pegasus Asset Management Inc.’s holdings in Stryker were worth $3,970,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. VanderPol Investments L.L.C. lifted its holdings in shares of Stryker by 1.4% in the fourth quarter. VanderPol Investments L.L.C. now owns 2,084 shares of the medical technology company’s stock valued at $732,000 after purchasing an additional 28 shares in the last quarter. Rossby Financial LCC increased its stake in shares of Stryker by 6.6% during the 4th quarter. Rossby Financial LCC now owns 451 shares of the medical technology company’s stock worth $159,000 after purchasing an additional 28 shares in the last quarter. KCM Investment Advisors LLC raised its position in shares of Stryker by 1.5% during the 4th quarter. KCM Investment Advisors LLC now owns 1,857 shares of the medical technology company’s stock worth $653,000 after purchasing an additional 28 shares during the last quarter. Stonebridge Capital Advisors LLC raised its position in shares of Stryker by 0.4% during the 3rd quarter. Stonebridge Capital Advisors LLC now owns 7,198 shares of the medical technology company’s stock worth $2,661,000 after purchasing an additional 29 shares during the last quarter. Finally, Tcfg Wealth Management LLC lifted its stake in Stryker by 2.7% in the 3rd quarter. Tcfg Wealth Management LLC now owns 1,091 shares of the medical technology company’s stock valued at $403,000 after buying an additional 29 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.
Stryker Stock Performance
Stryker stock opened at $316.41 on Friday. The firm has a market capitalization of $121.30 billion, a P/E ratio of 36.62, a PEG ratio of 2.01 and a beta of 0.78. The stock has a fifty day moving average price of $311.29 and a 200 day moving average price of $339.98. Stryker Corporation has a 52 week low of $281.00 and a 52 week high of $404.87. The company has a current ratio of 2.11, a quick ratio of 1.25 and a debt-to-equity ratio of 0.62.
Stryker Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Tuesday, June 30th will be given a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.52 annualized dividend and a dividend yield of 1.1%. Stryker’s dividend payout ratio (DPR) is currently 40.74%.
Wall Street Analyst Weigh In
Several equities analysts have weighed in on SYK shares. Weiss Ratings downgraded Stryker from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft set a $315.00 price objective on Stryker in a research report on Friday, May 1st. Robert W. Baird set a $385.00 price objective on Stryker in a research note on Friday, May 1st. UBS Group dropped their price objective on Stryker from $400.00 to $380.00 and set a “neutral” rating for the company in a research report on Tuesday, March 17th. Finally, Truist Financial reissued a “hold” rating and issued a $330.00 target price (down from $380.00) on shares of Stryker in a research note on Monday, May 4th. Sixteen analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $395.33.
Check Out Our Latest Stock Report on Stryker
Insider Buying and Selling
In related news, VP M Kathryn Fink sold 3,500 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $283.45, for a total value of $992,075.00. Following the completion of the sale, the vice president directly owned 177 shares in the company, valued at approximately $50,170.65. The trade was a 95.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 310,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The stock was sold at an average price of $312.23, for a total transaction of $96,791,300.00. Following the transaction, the director directly owned 1,924,880 shares of the company’s stock, valued at $601,005,282.40. This trade represents a 13.87% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 323,264 shares of company stock valued at $100,659,489. Insiders own 4.60% of the company’s stock.
Stryker Company Profile
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.
Featured Stories
- Five stocks we like better than Stryker
- MDA Space Targets US Defense Market With $620M Acquisition
- Carnival’s Second Quarter: Is the Stock Still Complicated?
- Domino’s Stock Slides to 52-Week Low as Investors Digest CEO Change
- Microsoft Solves AI’s Biggest Bottleneck With Chevron Deal
Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Corporation (NYSE:SYK – Free Report).
Receive News & Ratings for Stryker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stryker and related companies with MarketBeat.com's FREE daily email newsletter.
