Congress Wealth Management LLC DE Has $17.24 Million Position in Stryker Co. (NYSE:SYK)

Congress Wealth Management LLC DE cut its position in Stryker Co. (NYSE:SYK) by 1.5% during the 1st quarter, HoldingsChannel reports. The firm owned 48,161 shares of the medical technology company’s stock after selling 715 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Stryker were worth $17,236,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SYK. Norges Bank acquired a new stake in Stryker in the fourth quarter worth $1,260,562,000. Global Assets Advisory LLC acquired a new stake in Stryker in the first quarter worth $341,049,000. Price T Rowe Associates Inc. MD raised its holdings in Stryker by 5.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock worth $3,755,782,000 after purchasing an additional 642,178 shares during the period. Confluence Investment Management LLC acquired a new stake in Stryker in the first quarter worth $93,369,000. Finally, Morgan Stanley raised its holdings in Stryker by 4.4% in the third quarter. Morgan Stanley now owns 5,315,227 shares of the medical technology company’s stock worth $1,452,493,000 after purchasing an additional 223,728 shares during the period. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Performance

Shares of SYK traded down $3.75 during midday trading on Monday, reaching $336.50. The stock had a trading volume of 778,856 shares, compared to its average volume of 1,311,401. The firm has a market cap of $128.19 billion, a PE ratio of 38.41, a P/E/G 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 simple moving average of $337.38 and a 200-day simple moving average of $333.91. Stryker Co. has a one year low of $249.98 and a one year high of $361.41.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 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 the consensus estimate of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. Stryker’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.14 EPS. As a group, sell-side analysts anticipate that Stryker Co. will post 11.95 EPS for the current year.

Stryker Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on SYK shares. Citigroup increased their price objective on shares of Stryker from $362.00 to $406.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. TD Cowen increased their price objective on shares of Stryker from $365.00 to $400.00 and gave the stock a “buy” rating in a research report on Thursday, April 11th. Needham & Company LLC raised shares of Stryker from a “hold” rating to a “buy” rating and set a $392.00 price objective for the company in a research report on Wednesday, May 22nd. Robert W. Baird increased their price objective on shares of Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Finally, Barclays increased their price objective on shares of Stryker from $372.00 to $376.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $370.58.

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.