Stryker Co. (NYSE:SYK) Shares Sold by Congress Asset Management Co. MA

Congress Asset Management Co. MA decreased its holdings in Stryker Co. (NYSE:SYKFree Report) by 1.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 66,276 shares of the medical technology company’s stock after selling 1,060 shares during the quarter. Congress Asset Management Co. MA’s holdings in Stryker were worth $23,718,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Carnegie Capital Asset Management LLC grew its position in Stryker by 0.5% during the 4th quarter. Carnegie Capital Asset Management LLC now owns 96,241 shares of the medical technology company’s stock worth $28,820,000 after purchasing an additional 497 shares in the last quarter. Atlantic Edge Private Wealth Management LLC purchased a new position in Stryker during the 4th quarter worth approximately $1,561,000. CoreCap Advisors LLC grew its position in Stryker by 3.9% during the 4th quarter. CoreCap Advisors LLC now owns 5,030 shares of the medical technology company’s stock worth $1,506,000 after purchasing an additional 191 shares in the last quarter. Consolidated Planning Corp purchased a new position in Stryker during the 4th quarter worth approximately $205,000. Finally, Meritage Portfolio Management purchased a new position in Stryker during the 4th quarter worth approximately $569,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on SYK. Roth Mkm lifted their target price on shares of Stryker from $348.00 to $405.00 and gave the company a “buy” rating in a research note on Wednesday, May 1st. Royal Bank of Canada lifted their target price on shares of Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a research note on Monday, April 15th. Barclays lifted their target price on shares of Stryker from $372.00 to $376.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Piper Sandler lifted their price objective on shares of Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a research note on Wednesday, May 1st. Finally, StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a research note on Monday, June 17th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Stryker presently has a consensus rating of “Moderate Buy” and a consensus price target of $370.58.

Get Our Latest Report on SYK

Stryker Stock Performance

NYSE:SYK opened at $342.64 on Friday. The firm’s 50-day moving average is $336.68 and its 200-day moving average is $331.94. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $361.41. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.71. The company has a market cap of $130.53 billion, a price-to-earnings ratio of 39.11, a PEG ratio of 2.69 and a beta of 0.92.

Stryker (NYSE:SYKGet Free Report) last posted its quarterly earnings data on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.36 by $0.14. Stryker had a net margin of 16.03% and a return on equity of 23.05%. The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter in the previous year, the firm posted $2.14 EPS. The business’s revenue was up 9.7% compared to the same quarter last year. Equities research analysts anticipate that Stryker Co. will post 11.95 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $3.20 dividend on an annualized basis and a yield of 0.93%. Stryker’s payout ratio is currently 36.53%.

Stryker Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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