Congress Asset Management Co. Has $23.54 Million Stock Position in Stryker Co. (NYSE:SYK)

Congress Asset Management Co. lowered its stake in Stryker Co. (NYSE:SYK) by 0.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 65,171 shares of the medical technology company’s stock after selling 268 shares during the period. Congress Asset Management Co.’s holdings in Stryker were worth $23,544,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of SYK. Centennial Bank AR raised its holdings in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company’s stock worth $32,000 after buying an additional 48 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in Stryker during the first quarter worth about $39,000. HBW Advisory Services LLC bought a new position in shares of Stryker in the third quarter worth about $42,000. Grove Bank & Trust boosted its stake in shares of Stryker by 84.8% in the 3rd quarter. Grove Bank & Trust now owns 122 shares of the medical technology company’s stock valued at $44,000 after purchasing an additional 56 shares in the last quarter. Finally, DT Investment Partners LLC grew its holdings in shares of Stryker by 114.3% during the 3rd quarter. DT Investment Partners LLC now owns 135 shares of the medical technology company’s stock valued at $49,000 after purchasing an additional 72 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Trading Down 2.0 %

NYSE:SYK opened at $356.28 on Friday. The firm has a fifty day simple moving average of $359.90 and a two-hundred day simple moving average of $344.06. Stryker Co. has a 12 month low of $264.85 and a 12 month high of $374.63. The stock has a market capitalization of $135.77 billion, a price-to-earnings ratio of 38.19, a PEG ratio of 2.79 and a beta of 0.91. The company has a current ratio of 1.91, a quick ratio of 0.95 and a debt-to-equity ratio of 0.66.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating the consensus estimate of $2.78 by $0.09. The company had revenue of $5.49 billion during the quarter, compared to the consensus estimate of $5.37 billion. Stryker had a return on equity of 23.07% and a net margin of 16.34%. The firm’s revenue for the quarter was up 11.9% compared to the same quarter last year. During the same period last year, the business posted $2.46 EPS. Analysts expect that Stryker Co. will post 12.05 EPS for the current fiscal year.

Stryker Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 31st. Shareholders of record on Monday, September 30th were paid a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date was Monday, September 30th. Stryker’s dividend payout ratio (DPR) is 34.30%.

Analyst Ratings Changes

SYK has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their target price on shares of Stryker from $375.00 to $420.00 and gave the company an “overweight” rating in a research report on Wednesday. UBS Group boosted their price objective on Stryker from $366.00 to $370.00 and gave the stock a “neutral” rating in a research report on Wednesday. Barclays increased their target price on Stryker from $402.00 to $418.00 and gave the company an “overweight” rating in a research report on Thursday. Robert W. Baird boosted their price target on Stryker from $378.00 to $405.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, Piper Sandler restated an “overweight” rating and issued a $420.00 price target (up from $380.00) on shares of Stryker in a research report on Wednesday. Four research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $393.65.

Insider Activity

In related news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total value of $61,457,400.00. Following the sale, the director now owns 3,316,608 shares in the company, valued at $1,072,790,023.68. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the completion of the transaction, the director now owns 3,316,608 shares in the company, valued at approximately $1,072,790,023.68. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Viju Menon sold 600 shares of the stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the completion of the sale, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 200,068 shares of company stock worth $65,151,372 over the last three months. 5.90% of the stock is currently owned by insiders.

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.