Envestnet Asset Management Inc. Purchases 70,634 Shares of Stryker Corporation $SYK

Key Points

• Envestnet Asset Management increased its Stryker position by 12.2%, purchasing 70,634 shares to own 650,461 shares worth approximately $204.8 million. Institutional investors collectively hold 77.09% of Stryker’s stock.
• Stryker insiders have sold 351,267 shares worth about $118.2 million over the past 90 days, while analysts maintain a generally positive outlook with a “Moderate Buy” consensus and an average price target of $374.42.
• Stryker’s latest quarterly results exceeded expectations, with adjusted earnings of $3.69 per share and revenue of $6.59 billion, up 9.4% year over year. The company also declared a quarterly dividend of $0.88 per share, equivalent to a 1.3% annual yield.

Envestnet Asset Management Inc. lifted its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 12.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 650,461 shares of the medical technology company's stock after buying an additional 70,634 shares during the quarter. Envestnet Asset Management Inc. owned about 0.17% of Stryker worth $204,790,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SYK. State Street Corp raised its position in shares of Stryker by 1.2% in the 2nd quarter. State Street Corp now owns 15,532,565 shares of the medical technology company's stock worth $4,903,772,000 after acquiring an additional 183,400 shares in the last quarter. Security National Bank of Sioux City Iowa IA bought a new position in shares of Stryker during the 2nd quarter worth approximately $62,000. The Manufacturers Life Insurance Company grew its position in shares of Stryker by 8.2% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 859,544 shares of the medical technology company's stock worth $270,642,000 after buying an additional 65,333 shares during the period. Palogic Value Management L.P. increased its stake in shares of Stryker by 4.3% in the 2nd quarter. Palogic Value Management L.P. now owns 1,313 shares of the medical technology company's stock valued at $413,000 after acquiring an additional 54 shares in the last quarter. Finally, Tidal Investments LLC increased its stake in shares of Stryker by 174.2% in the 2nd quarter. Tidal Investments LLC now owns 111,457 shares of the medical technology company's stock valued at $35,091,000 after acquiring an additional 70,805 shares in the last quarter. Institutional investors own 77.09% of the company's stock.

Insider Buying and Selling

In other news, insider Debra King sold 826 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $336.30, for a total value of $277,783.80. Following the completion of the sale, the insider owned 6,210 shares in the company, valued at $2,088,423. This represents a 11.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Dylan Crotty sold 441 shares of the firm's stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $328.61, for a total transaction of $144,917.01. Following the transaction, the insider directly owned 6,102 shares in the company, valued at $2,005,178.22. The trade was a 6.74% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 351,267 shares of company stock worth $118,197,701. 4.60% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of Stryker from $400.00 to $350.00 and set an "overweight" rating on the stock in a research note on Friday, July 31st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Stryker in a research note on Friday, July 31st. Citizens Jmp dropped their price objective on shares of Stryker from $440.00 to $400.00 and set a "market outperform" rating on the stock in a report on Monday, August 3rd. Leerink Partners cut their price objective on shares of Stryker from $410.00 to $407.00 and set an "outperform" rating on the stock in a research report on Friday, June 5th. Finally, Canaccord Genuity Group reduced their target price on Stryker from $400.00 to $385.00 and set a "buy" rating for the company in a research note on Friday, September 18th. Eighteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Stryker has a consensus rating of "Moderate Buy" and a consensus price target of $374.42.

Stryker Trading Down 1.2%

NYSE:SYK opened at $270.07 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 2.16 and a quick ratio of 1.33. Stryker Corporation has a one year low of $267.00 and a one year high of $392.55. The company has a market cap of $103.59 billion, a PE ratio of 27.99, a PEG ratio of 1.74 and a beta of 0.76. The firm has a 50-day moving average of $315.96 and a 200-day moving average of $319.51.

Stryker (NYSE:SYK - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The medical technology company reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.49 by $0.20. The business had revenue of $6.59 billion for the quarter, compared to analysts' expectations of $6.58 billion. Stryker had a net margin of 14.43% and a return on equity of 23.63%. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.13 EPS. Stryker has set its FY 2026 guidance at 14.950-15.100 EPS. As a group, equities research analysts expect that Stryker Corporation will post 14.98 EPS for the current fiscal year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $3.52 annualized dividend and a dividend yield of 1.3%. Stryker's payout ratio is presently 36.48%.

Stryker Profile

Stryker Corporation is a global medical technology company headquartered in Portage, Michigan. The company develops and manufactures products used by hospitals, physicians and other healthcare providers across a range of medical specialties.

Stryker's principal businesses include orthopaedics, medical and surgical equipment, and neurovascular products. Its offerings include joint replacement and trauma implants, spinal devices, surgical instruments, operating-room equipment, endoscopy systems, surgical navigation technologies, emergency-care products and devices used to treat neurovascular conditions such as stroke.

Founded in 1941 by Dr.

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