Stryker Corporation (NYSE:SYK) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. cut its holdings in shares of Stryker Corporation (NYSE:SYK - Free Report) by 30.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,286 shares of the medical technology company's stock after selling 4,520 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Stryker were worth $3,829,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Brighton Jones LLC grew its position in shares of Stryker by 15.4% during the 4th quarter. Brighton Jones LLC now owns 4,564 shares of the medical technology company's stock valued at $1,643,000 after acquiring an additional 609 shares during the period. Private Advisor Group LLC lifted its position in shares of Stryker by 0.4% in the fourth quarter. Private Advisor Group LLC now owns 16,027 shares of the medical technology company's stock valued at $5,771,000 after acquiring an additional 60 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Stryker in the fourth quarter worth approximately $30,000. Dividend Assets Capital LLC boosted its stake in shares of Stryker by 4.0% in the fourth quarter. Dividend Assets Capital LLC now owns 29,093 shares of the medical technology company's stock worth $10,475,000 after acquiring an additional 1,124 shares during the last quarter. Finally, Callan Capital LLC boosted its stake in shares of Stryker by 6.1% in the fourth quarter. Callan Capital LLC now owns 701 shares of the medical technology company's stock worth $252,000 after acquiring an additional 40 shares during the last quarter. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Stock Performance

NYSE:SYK opened at $375.44 on Friday. Stryker Corporation has a 1 year low of $314.93 and a 1 year high of $406.19. The firm's fifty day simple moving average is $374.95 and its 200 day simple moving average is $375.20. The company has a current ratio of 1.64, a quick ratio of 1.00 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $143.30 billion, a PE ratio of 50.73, a PEG ratio of 2.83 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last posted its earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.73 by $0.11. Stryker had a net margin of 12.31% and a return on equity of 23.74%. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $5.68 billion. During the same period last year, the business posted $2.50 EPS. Stryker's revenue was up 11.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The business also recently declared 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 annualized dividend and a yield of 0.89%. Stryker's dividend payout ratio is 45.41%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on SYK shares. Sanford C. Bernstein set a $450.00 price target on shares of Stryker in a research note on Monday, May 5th. Wall Street Zen raised shares of Stryker from a "hold" rating to a "buy" rating in a research report on Saturday, June 14th. Roth Mkm raised their price target on shares of Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Evercore ISI decreased their price objective on shares of Stryker from $400.00 to $390.00 and set an "outperform" rating for the company in a research report on Friday, May 2nd. Finally, The Goldman Sachs Group set a $422.00 price objective on shares of Stryker in a research report on Tuesday, March 4th. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $427.30.

Insiders Place Their Bets

In other Stryker news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction 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 now directly owns 3,417,326 shares in the company, valued at $1,288,195,208.96. This trade represents a 5.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 5.90% of the company's stock.

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.

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