Envestnet Asset Management Inc. Has $235.33 Million Position in Stryker Corporation (NYSE:SYK)

Envestnet Asset Management Inc. grew its position in Stryker Corporation (NYSE:SYK - Free Report) by 1.1% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 632,180 shares of the medical technology company's stock after buying an additional 7,046 shares during the quarter. Envestnet Asset Management Inc. owned 0.17% of Stryker worth $235,329,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Capital A Wealth Management LLC acquired a new position in shares of Stryker in the fourth quarter valued at about $26,000. Rakuten Securities Inc. grew its position in Stryker by 618.2% in the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock worth $28,000 after acquiring an additional 68 shares during the period. Goodman Advisory Group LLC acquired a new position in Stryker during the first quarter worth $32,000. City Holding Co. grew its stake in shares of Stryker by 528.6% in the first quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after acquiring an additional 74 shares in the last quarter. Finally, VSM Wealth Advisory LLC purchased a new position in Stryker in the fourth quarter valued at $36,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

SYK has been the topic of several recent research reports. Evercore ISI boosted their price target on Stryker from $390.00 to $415.00 and gave the company an "outperform" rating in a research report on Tuesday. Wall Street Zen lowered shares of Stryker from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. BTIG Research set a $403.00 price objective on shares of Stryker and gave the stock a "buy" rating in a report on Monday, April 14th. Sanford C. Bernstein set a $450.00 price target on Stryker in a research note on Monday, May 5th. Finally, Roth Mkm raised their target price on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Five equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $428.55.

Stryker Stock Performance

SYK stock traded up $2.55 during midday trading on Wednesday, reaching $392.05. The company had a trading volume of 871,885 shares, compared to its average volume of 1,348,615. Stryker Corporation has a fifty-two week low of $314.93 and a fifty-two week high of $406.19. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. The stock has a 50 day moving average price of $383.81 and a 200 day moving average price of $376.67. The firm has a market capitalization of $149.64 billion, a PE ratio of 52.98, a P/E/G ratio of 2.96 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.73 by $0.11. The business had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $5.68 billion. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The business's revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the firm posted $2.50 earnings per share. Analysts anticipate that Stryker Corporation will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a $0.84 dividend. The ex-dividend date is Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.86%. Stryker's dividend payout ratio (DPR) is 45.41%.

Insiders Place Their Bets

In related news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value of $75,392,000.00. Following the sale, the director directly owned 3,417,326 shares in the company, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 5.90% of the stock is owned by corporate insiders.

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.