Congress Wealth Management LLC DE Raises Stock Holdings in Stryker Co. (NYSE:SYK)

Congress Wealth Management LLC DE raised its position in Stryker Co. (NYSE:SYK - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,589 shares of the medical technology company's stock after purchasing an additional 1,417 shares during the period. Congress Wealth Management LLC DE's holdings in Stryker were worth $18,575,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Chicago Capital LLC increased its position in shares of Stryker by 3.1% in the fourth quarter. Chicago Capital LLC now owns 195,052 shares of the medical technology company's stock worth $70,228,000 after purchasing an additional 5,841 shares during the last quarter. Zhang Financial LLC increased its position in shares of Stryker by 55.0% in the fourth quarter. Zhang Financial LLC now owns 114,889 shares of the medical technology company's stock valued at $41,366,000 after acquiring an additional 40,784 shares during the period. Appleton Partners Inc. MA raised its stake in shares of Stryker by 5.0% during the fourth quarter. Appleton Partners Inc. MA now owns 29,222 shares of the medical technology company's stock valued at $10,521,000 after acquiring an additional 1,400 shares during the last quarter. Metis Global Partners LLC boosted its holdings in shares of Stryker by 10.2% during the fourth quarter. Metis Global Partners LLC now owns 16,841 shares of the medical technology company's stock worth $6,064,000 after purchasing an additional 1,561 shares during the period. Finally, US Bancorp DE grew its stake in shares of Stryker by 0.5% in the fourth quarter. US Bancorp DE now owns 182,825 shares of the medical technology company's stock worth $65,829,000 after purchasing an additional 976 shares during the last quarter. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

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Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SYK shares. Wells Fargo & Company increased their price objective on Stryker from $427.00 to $435.00 and gave the stock an "overweight" rating in a report on Wednesday, January 29th. JPMorgan Chase & Co. increased their price target on shares of Stryker from $420.00 to $445.00 and gave the stock an "overweight" rating in a research note on Wednesday, January 29th. Needham & Company LLC reissued a "buy" rating and set a $442.00 price target on shares of Stryker in a research report on Friday, March 21st. StockNews.com cut shares of Stryker from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Finally, Citigroup reiterated a "buy" rating and set a $450.00 target price on shares of Stryker in a report on Wednesday, February 26th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $421.90.

Insider Activity at Stryker

In related news, Director Allan C. Golston sold 2,458 shares of the firm's stock in a transaction that occurred 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 transaction, the director now owns 14,895 shares of the company's stock, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ronda E. Stryker sold 201,392 shares of the business's stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the sale, the director now owns 3,642,075 shares of the company's stock, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 5.90% of the stock is owned by company insiders.

Stryker Stock Performance

SYK traded down $3.16 during midday trading on Friday, hitting $364.38. 1,274,307 shares of the company traded hands, compared to its average volume of 1,289,456. The company's 50-day moving average is $384.08 and its 200 day moving average is $374.25. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $139.08 billion, a PE ratio of 46.96, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share for the quarter, beating analysts' consensus estimates of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same quarter in the prior year, the business earned $3.46 EPS. On average, research analysts expect that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Monday, March 31st. Stryker's payout ratio is currently 43.30%.

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.