Envestnet Asset Management Inc. Grows Position in Stryker Corporation (NYSE:SYK)

Envestnet Asset Management Inc. increased its stake in Stryker Corporation (NYSE:SYK - Free Report) by 1.1% during the first quarter, according to its most recent filing with the SEC. The fund 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 quarter.

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

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the sale, the director owned 3,417,326 shares in the company, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.90% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

SYK has been the topic of several recent analyst reports. Roth Mkm raised their target price on shares of Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Wall Street Zen lowered Stryker from a "buy" rating to a "hold" rating in a research report on Friday, June 27th. Citigroup reaffirmed a "buy" rating and issued a $455.00 price target (up previously from $443.00) on shares of Stryker in a research report on Thursday, May 22nd. Sanford C. Bernstein set a $450.00 price target on Stryker in a research report on Monday, May 5th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $442.00 price objective on shares of Stryker in a report on Friday, March 21st. Five investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Stryker has an average rating of "Moderate Buy" and a consensus price target of $428.55.

Stryker Price Performance

SYK stock traded down $5.53 during midday trading on Friday, hitting $389.24. The company's stock had a trading volume of 821,968 shares, compared to its average volume of 1,461,455. Stryker Corporation has a 12 month low of $314.93 and a 12 month 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 firm has a market capitalization of $148.57 billion, a price-to-earnings ratio of 52.60, a price-to-earnings-growth ratio of 2.96 and a beta of 0.91. The company has a 50 day moving average of $384.57 and a two-hundred day moving average of $376.97.

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 for the quarter, compared to analysts' expectations of $5.68 billion. Stryker had a return on equity of 23.74% and a net margin of 12.31%. The company's revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.50 EPS. On average, analysts expect that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid 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 payout ratio is 45.41%.

Stryker 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.