Pegasus Asset Management Inc. Acquires 278 Shares of Stryker Corporation $SYK

Pegasus Asset Management Inc. grew its holdings in Stryker Corporation (NYSE:SYK) by 5.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,086 shares of the medical technology company’s stock after purchasing an additional 278 shares during the period. Pegasus Asset Management Inc.’s holdings in Stryker were worth $2,012,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Sachetta LLC increased 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 purchasing an additional 27 shares during the last quarter. Goodman Advisory Group LLC bought a new position in shares of Stryker in the 1st quarter valued at $32,000. Ridgewood Investments LLC boosted its holdings in shares of Stryker by 48.4% during the 2nd quarter. Ridgewood Investments LLC now owns 92 shares of the medical technology company’s stock valued at $36,000 after acquiring an additional 30 shares in the last quarter. Ransom Advisory Ltd acquired a new stake in shares of Stryker during the 1st quarter valued at $37,000. Finally, Smallwood Wealth Investment Management LLC acquired a new stake in shares of Stryker during the 1st quarter valued at $40,000. Institutional investors own 77.09% of the company’s stock.

Insider Activity

In other news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total value of $75,290,000.00. Following the completion of the transaction, the director directly owned 3,222,108 shares of the company’s stock, valued at approximately $1,212,962,556.60. This trade represents a 5.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Viju Menon sold 500 shares of Stryker stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $390.61, for a total value of $195,305.00. Following the completion of the transaction, the insider directly owned 12,511 shares of the company’s stock, valued at approximately $4,886,921.71. This trade represents a 3.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

Stryker Stock Down 1.5%

Shares of SYK opened at $364.77 on Monday. The company has a market capitalization of $139.45 billion, a PE ratio of 48.31, a PEG ratio of 2.63 and a beta of 0.94. Stryker Corporation has a 12 month low of $329.16 and a 12 month high of $406.19. The stock’s 50-day moving average price is $380.25 and its two-hundred day moving average price is $378.90. The company has a current ratio of 1.78, a quick ratio of 1.06 and a debt-to-equity ratio of 0.70.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, topping the consensus estimate of $3.07 by $0.06. The firm had revenue of $6.02 billion for the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the business earned $2.81 EPS. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, analysts anticipate that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.9%. Stryker’s dividend payout ratio (DPR) is 44.50%.

Analyst Upgrades and Downgrades

SYK has been the topic of several recent research reports. Wells Fargo & Company raised their price objective on Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Weiss Ratings reissued a “buy (b-)” rating on shares of Stryker in a report on Wednesday, October 8th. BTIG Research reissued a “buy” rating on shares of Stryker in a report on Monday, July 14th. Rothschild & Co Redburn initiated coverage on Stryker in a report on Thursday, September 18th. They set a “neutral” rating and a $420.00 price objective on the stock. Finally, Needham & Company LLC raised their price objective on Stryker from $442.00 to $448.00 and gave the company a “buy” rating in a report on Friday, August 1st. Fifteen analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and a consensus price target of $430.10.

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.