Congress Wealth Management LLC DE Reduces Position in Stryker Co. (NYSE:SYK)

Congress Wealth Management LLC DE cut its holdings in shares of Stryker Co. (NYSE:SYK) by 1.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,161 shares of the medical technology company’s stock after selling 715 shares during the period. Congress Wealth Management LLC DE’s holdings in Stryker were worth $17,236,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of SYK. Harbor Investment Advisory LLC raised its holdings in shares of Stryker by 0.4% during the first quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock valued at $2,499,000 after acquiring an additional 31 shares during the last quarter. Bremer Bank National Association raised its holdings in shares of Stryker by 4.0% during the fourth quarter. Bremer Bank National Association now owns 888 shares of the medical technology company’s stock valued at $266,000 after acquiring an additional 34 shares during the last quarter. Simon Quick Advisors LLC raised its holdings in shares of Stryker by 3.0% during the fourth quarter. Simon Quick Advisors LLC now owns 1,158 shares of the medical technology company’s stock valued at $347,000 after acquiring an additional 34 shares during the last quarter. Consolidated Portfolio Review Corp raised its holdings in shares of Stryker by 3.6% during the fourth quarter. Consolidated Portfolio Review Corp now owns 983 shares of the medical technology company’s stock valued at $294,000 after acquiring an additional 34 shares during the last quarter. Finally, FourThought Financial Partners LLC raised its holdings in shares of Stryker by 3.3% during the fourth quarter. FourThought Financial Partners LLC now owns 1,076 shares of the medical technology company’s stock valued at $322,000 after acquiring an additional 34 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Down 1.1 %

SYK traded down $3.75 on Monday, hitting $336.50. 778,856 shares of the company were exchanged, compared to its average volume of 1,311,401. Stryker Co. has a twelve month low of $249.98 and a twelve month high of $361.41. The company has a market cap of $128.19 billion, a price-to-earnings ratio of 38.41, a price-to-earnings-growth ratio of 2.68 and a beta of 0.89. The company has a current ratio of 1.71, a quick ratio of 0.99 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $337.38 and a two-hundred day moving average price of $333.91.

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

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a dividend of $0.80 per share. The ex-dividend date is Friday, June 28th. This represents a $3.20 annualized dividend and a dividend yield of 0.95%. Stryker’s dividend payout ratio is currently 36.53%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. UBS Group lifted their price objective on Stryker from $339.00 to $351.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 1st. BTIG Research lifted their price objective on Stryker from $366.00 to $369.00 and gave the stock a “buy” rating in a research 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 research report on Wednesday, April 3rd. Stifel Nicolaus lifted their price objective on Stryker from $350.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Finally, Robert W. Baird lifted their price objective on Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average 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.