Stryker Co. (NYSE:SYK) Shares Sold by Congress Asset Management Co. MA

Congress Asset Management Co. MA reduced its position in Stryker Co. (NYSE:SYK) by 3.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,336 shares of the medical technology company’s stock after selling 2,366 shares during the period. Congress Asset Management Co. MA’s holdings in Stryker were worth $20,165,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Bremer Bank National Association lifted its position in Stryker by 4.0% during the 4th quarter. Bremer Bank National Association now owns 888 shares of the medical technology company’s stock worth $266,000 after acquiring an additional 34 shares in the last quarter. Simon Quick Advisors LLC lifted its position in Stryker by 3.0% during the 4th quarter. Simon Quick Advisors LLC now owns 1,158 shares of the medical technology company’s stock worth $347,000 after acquiring an additional 34 shares in the last quarter. Consolidated Portfolio Review Corp lifted its position in Stryker by 3.6% during the 4th quarter. Consolidated Portfolio Review Corp now owns 983 shares of the medical technology company’s stock worth $294,000 after acquiring an additional 34 shares in the last quarter. FourThought Financial Partners LLC lifted its position in Stryker by 3.3% during the 4th quarter. FourThought Financial Partners LLC now owns 1,076 shares of the medical technology company’s stock worth $322,000 after acquiring an additional 34 shares in the last quarter. Finally, Catalyst Financial Partners LLC lifted its position in Stryker by 3.0% during the 4th quarter. Catalyst Financial Partners LLC now owns 1,154 shares of the medical technology company’s stock worth $346,000 after acquiring an additional 34 shares in the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Stock Performance

SYK traded up $1.96 during trading on Friday, reaching $344.98. 746,530 shares of the company were exchanged, compared to its average volume of 1,214,165. The stock has a market cap of $131.42 billion, a P/E ratio of 39.38, a PEG ratio of 2.72 and a beta of 0.92. The firm has a 50 day moving average of $336.88 and a 200 day moving average of $330.40. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $361.41.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, topping analysts’ consensus estimates of $2.36 by $0.14. The firm had revenue of $5.24 billion during the quarter, compared to the consensus estimate of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The firm’s revenue was up 9.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.14 EPS. On average, sell-side analysts forecast that Stryker Co. will post 11.95 EPS for the current fiscal year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be given a dividend of $0.80 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.20 dividend on an annualized basis and a yield of 0.93%. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Analyst Upgrades and Downgrades

SYK has been the topic of several analyst reports. BTIG Research lifted their price objective on Stryker from $366.00 to $369.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Citigroup lifted their price objective on Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Robert W. Baird lifted their price objective on Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a report on Wednesday, May 1st. Wells Fargo & Company lifted their price objective on Stryker from $364.00 to $381.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Finally, Barclays lifted their price objective on Stryker from $372.00 to $376.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Stryker currently has a consensus rating of “Moderate Buy” and an average target price of $370.58.

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.