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

Congress Wealth Management LLC DE lifted its stake in Stryker Co. (NYSE:SYK) by 2.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 51,589 shares of the medical technology company’s stock after buying an additional 1,417 shares during the quarter. Congress Wealth Management LLC DE’s holdings in Stryker were worth $18,575,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of SYK. Raymond James Financial Inc. acquired a new position in Stryker in the 4th quarter worth about $353,394,000. Proficio Capital Partners LLC raised its holdings in shares of Stryker by 52,520.8% during the fourth quarter. Proficio Capital Partners LLC now owns 596,194 shares of the medical technology company’s stock valued at $214,660,000 after acquiring an additional 595,061 shares during the last quarter. RTW Investments LP acquired a new position in shares of Stryker during the third quarter valued at approximately $143,392,000. State Street Corp raised its holdings in shares of Stryker by 2.2% during the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock valued at $5,279,788,000 after acquiring an additional 316,404 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Stryker by 0.8% during the fourth quarter. Vanguard Group Inc. now owns 32,698,828 shares of the medical technology company’s stock valued at $11,773,213,000 after acquiring an additional 252,188 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

SYK has been the subject of several recent research reports. Wells Fargo & Company increased their price target on Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. StockNews.com cut Stryker from a “buy” rating to a “hold” rating in a report on Thursday, March 6th. Argus set a $450.00 price target on Stryker in a report on Monday, February 3rd. Royal Bank of Canada increased their price target on Stryker from $425.00 to $435.00 and gave the company an “outperform” rating in a report on Wednesday, January 29th. Finally, Stifel Nicolaus increased their price target on Stryker from $400.00 to $440.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $421.90.

Insider Buying and Selling

In other Stryker 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 sale, the director now owns 14,895 shares in the company, valued at approximately $5,705,827.65. This trade represents a 14.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Ronda E. Stryker sold 201,392 shares of the 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 completion of the transaction, 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

NYSE:SYK opened at $371.38 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The firm has a 50-day moving average of $384.28 and a two-hundred day moving average of $374.12. The stock has a market cap of $141.71 billion, a P/E ratio of 47.86, a PEG ratio of 2.93 and a beta of 0.95. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 earnings per share (EPS) 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 period last year, the firm posted $3.46 EPS. On average, research analysts expect that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.84 per share. The ex-dividend date is Monday, March 31st. This represents a $3.36 annualized dividend and a yield of 0.90%. Stryker’s dividend payout ratio (DPR) is 43.30%.

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.