Envestnet Asset Management Inc. Increases Stock Position in Stryker Co. (NYSE:SYK)

Envestnet Asset Management Inc. raised its position in shares of Stryker Co. (NYSE:SYK) by 2.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 618,041 shares of the medical technology company’s stock after buying an additional 16,504 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Stryker were worth $210,289,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Oppenheimer Asset Management Inc. raised its position in shares of Stryker by 11.9% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 35,282 shares of the medical technology company’s stock worth $12,005,000 after purchasing an additional 3,765 shares during the last quarter. Parallel Advisors LLC increased its holdings in Stryker by 2.0% in the 2nd quarter. Parallel Advisors LLC now owns 15,311 shares of the medical technology company’s stock worth $5,209,000 after buying an additional 300 shares in the last quarter. HBK Sorce Advisory LLC bought a new stake in Stryker in the 2nd quarter worth about $241,000. Federated Hermes Inc. increased its holdings in Stryker by 16.2% in the 2nd quarter. Federated Hermes Inc. now owns 113,916 shares of the medical technology company’s stock worth $38,760,000 after buying an additional 15,882 shares in the last quarter. Finally, GHP Investment Advisors Inc. increased its holdings in Stryker by 3.3% in the 2nd quarter. GHP Investment Advisors Inc. now owns 37,031 shares of the medical technology company’s stock worth $12,600,000 after buying an additional 1,187 shares in the last quarter. Hedge funds and other institutional investors own 77.09% of the company’s stock.

Insider Buying and Selling

In related news, insider Viju Menon sold 600 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $355.00, for a total value of $213,000.00. Following the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, CFO Glenn S. Boehnlein sold 20,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the sale, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at approximately $949,716. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Viju Menon sold 600 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the transaction, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The disclosure for this sale can be found here. In the last three months, insiders have sold 210,600 shares of company stock valued at $68,330,400. Corporate insiders own 5.90% of the company’s stock.

Stryker Trading Up 0.7 %

Shares of NYSE:SYK opened at $370.25 on Monday. The stock has a 50 day moving average of $342.26 and a 200 day moving average of $342.37. The company has a market cap of $141.09 billion, a PE ratio of 42.27, a price-to-earnings-growth ratio of 2.84 and a beta of 0.91. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51. Stryker Co. has a 12-month low of $249.98 and a 12-month high of $374.24.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The company had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. During the same period in the previous year, the company posted $2.54 EPS. The firm’s revenue was up 8.5% on a year-over-year basis. As a group, equities research analysts expect that Stryker Co. will post 12 EPS for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a yield of 0.86%. Stryker’s dividend payout ratio is presently 36.53%.

Analysts Set New Price Targets

SYK has been the subject of several research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $386.00 price objective on shares of Stryker in a report on Wednesday, July 31st. Wolfe Research initiated coverage on Stryker in a report on Tuesday, September 10th. They issued an “outperform” rating and a $405.00 price objective for the company. Morgan Stanley lifted their price objective on Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a report on Monday, July 15th. Needham & Company LLC boosted their price target on Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, UBS Group boosted their price target on Stryker from $351.00 to $366.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $378.58.

Stryker Company 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.