Congress Asset Management Co. Reduces Stake in Stryker Co. (NYSE:SYK)

Congress Asset Management Co. decreased its holdings in shares of Stryker Co. (NYSE:SYK - Free Report) by 2.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,374 shares of the medical technology company's stock after selling 1,797 shares during the period. Congress Asset Management Co.'s holdings in Stryker were worth $22,818,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Opal Wealth Advisors LLC boosted its holdings in shares of Stryker by 1.6% during the 4th quarter. Opal Wealth Advisors LLC now owns 1,816 shares of the medical technology company's stock worth $654,000 after buying an additional 28 shares in the last quarter. Alhambra Investment Management LLC lifted its position in shares of Stryker by 1.5% during the 4th quarter. Alhambra Investment Management LLC now owns 1,997 shares of the medical technology company's stock valued at $719,000 after acquiring an additional 29 shares during the period. Capital & Planning LLC boosted its stake in Stryker by 3.6% during the fourth quarter. Capital & Planning LLC now owns 841 shares of the medical technology company's stock worth $304,000 after acquiring an additional 29 shares in the last quarter. Concord Wealth Partners grew its holdings in Stryker by 2.2% in the fourth quarter. Concord Wealth Partners now owns 1,396 shares of the medical technology company's stock worth $503,000 after purchasing an additional 30 shares during the period. Finally, Avestar Capital LLC increased its stake in Stryker by 1.1% in the third quarter. Avestar Capital LLC now owns 2,948 shares of the medical technology company's stock valued at $1,065,000 after purchasing an additional 31 shares in the last quarter. Institutional investors own 77.09% of the company's stock.

Stryker Stock Performance

Shares of Stryker stock traded down $2.05 during mid-day trading on Thursday, hitting $386.47. 930,252 shares of the stock were exchanged, compared to its average volume of 1,392,508. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The company has a 50-day simple moving average of $377.69 and a 200 day simple moving average of $368.08. The company has a market capitalization of $147.47 billion, a P/E ratio of 49.80, a P/E/G ratio of 2.90 and a beta of 0.96. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.32 and a current ratio of 1.95.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping analysts' consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter last year, the company earned $3.46 EPS. Sell-side analysts anticipate that Stryker Co. will post 13.49 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.87%. Stryker's payout ratio is currently 43.30%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. Truist Financial increased their price objective on shares of Stryker from $409.00 to $413.00 and gave the stock a "hold" rating in a research report on Thursday, January 30th. JMP Securities reissued a "market perform" rating on shares of Stryker in a research note on Tuesday. StockNews.com downgraded Stryker from a "buy" rating to a "hold" rating in a report on Thursday, January 30th. BTIG Research increased their target price on Stryker from $383.00 to $394.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group boosted their price target on shares of Stryker from $384.00 to $427.00 and gave the company a "neutral" rating in a research note on Thursday, January 30th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $420.68.

Insider Buying and Selling

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of the stock in a transaction on Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the transaction, the director now directly owns 3,642,075 shares of the company's stock, valued at approximately $1,428,567,498. This represents a 5.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Allan C. Golston sold 2,458 shares of the business's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the completion of the sale, the director now owns 14,895 shares in the company, valued at approximately $5,705,827.65. The trade was a 14.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by corporate insiders.

About Stryker

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.