Stryker Corporation $SYK Shares Bought by Envestnet Portfolio Solutions Inc.

Key Points

• Envestnet Portfolio Solutions Inc. increased its stake in Stryker Corporation by 8.7% during the second quarter, owning 11,185 shares valued at approximately $4.43 million.
• Insider Viju Menon sold 500 shares for over $195,000, while Director Ronda E. Stryker sold 200,000 shares valued at around $75.29 million, reflecting a notable decrease in their ownership percentages.
• Stryker Corporation reported a Q2 revenue of $6.02 billion, exceeding analysts' estimates, with a projected FY 2025 earnings per share guidance between $13.400 and $13.600.

Envestnet Portfolio Solutions Inc. increased its stake in Stryker Corporation (NYSE:SYK - Free Report) by 8.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 11,185 shares of the medical technology company's stock after acquiring an additional 899 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Stryker were worth $4,425,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Oregon Public Employees Retirement Fund grew its holdings in shares of Stryker by 0.7% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 29,725 shares of the medical technology company's stock worth $11,760,000 after acquiring an additional 200 shares during the last quarter. Concord Asset Management LLC VA acquired a new position in shares of Stryker in the 2nd quarter worth $382,000. Sequoia Financial Advisors LLC grew its holdings in shares of Stryker by 4.6% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 12,962 shares of the medical technology company's stock worth $5,128,000 after acquiring an additional 572 shares during the last quarter. Vest Financial LLC grew its holdings in shares of Stryker by 17.8% in the 2nd quarter. Vest Financial LLC now owns 642 shares of the medical technology company's stock worth $254,000 after acquiring an additional 97 shares during the last quarter. Finally, Riverpoint Wealth Management Holdings LLC grew its holdings in shares of Stryker by 4.8% in the 2nd quarter. Riverpoint Wealth Management Holdings LLC now owns 1,283 shares of the medical technology company's stock worth $507,000 after acquiring an additional 59 shares during the last quarter. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Viju Menon sold 500 shares of the business's stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $390.61, for a total transaction of $195,305.00. Following the transaction, the insider directly owned 12,511 shares in the company, valued at $4,886,921.71. The trade was a 3.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $376.45, for a total value of $75,290,000.00. Following the transaction, the director owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This represents a 5.84% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.90% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. BTIG Research lifted their price target on Stryker from $407.00 to $408.00 and gave the company a "buy" rating in a report on Monday. Rothschild & Co Redburn began coverage on Stryker in a research report on Thursday, September 18th. They set a "neutral" rating and a $420.00 price objective for the company. Wall Street Zen cut Stryker from a "buy" rating to a "hold" rating in a research report on Friday, September 26th. Wells Fargo & Company lifted their price objective on Stryker from $435.00 to $445.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Stryker in a research report on Wednesday, October 8th. Fifteen investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $431.76.

Stryker Price Performance

Shares of NYSE:SYK opened at $369.60 on Thursday. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The business has a 50-day moving average of $379.60 and a two-hundred day moving average of $378.78. The stock has a market capitalization of $141.30 billion, a P/E ratio of 48.95, a P/E/G ratio of 2.67 and a beta of 0.94. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.78 and a quick ratio of 1.06.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, topping analysts' consensus estimates of $3.07 by $0.06. The business had revenue of $6.02 billion for the quarter, compared to analyst estimates of $5.92 billion. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The firm's revenue for the quarter was up 11.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.81 earnings per share. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. On average, equities research analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Tuesday, September 30th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, September 30th. Stryker's payout ratio is currently 44.50%.

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.

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