Envestnet Asset Management Inc. Has $250.90 Million Stock Position in Stryker Corporation $SYK

Envestnet Asset Management Inc. increased its stake in Stryker Corporation (NYSE:SYK) by 0.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 634,181 shares of the medical technology company’s stock after acquiring an additional 2,001 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Stryker were worth $250,901,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SYK. Nuveen LLC acquired a new position in shares of Stryker in the first quarter worth approximately $558,075,000. Price T Rowe Associates Inc. MD lifted its stake in Stryker by 9.2% in the first quarter. Price T Rowe Associates Inc. MD now owns 12,131,218 shares of the medical technology company’s stock valued at $4,515,847,000 after buying an additional 1,021,496 shares during the period. Alliancebernstein L.P. lifted its stake in Stryker by 66.7% in the first quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company’s stock valued at $511,152,000 after buying an additional 549,643 shares during the period. Vanguard Group Inc. lifted its stake in Stryker by 1.1% in the first quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company’s stock valued at $12,306,572,000 after buying an additional 361,136 shares during the period. Finally, Goldman Sachs Group Inc. lifted its stake in Stryker by 13.1% in the first quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company’s stock valued at $838,640,000 after buying an additional 261,058 shares during the period. 77.09% of the stock is owned by institutional investors and hedge funds.

Stryker Trading Up 0.5%

NYSE SYK opened at $383.56 on Tuesday. The business has a 50 day moving average price of $379.87 and a 200-day moving average price of $380.29. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $406.19. The company has a market cap of $146.64 billion, a price-to-earnings ratio of 50.80, a P/E/G ratio of 2.75 and a beta of 0.94. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.07 by $0.06. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The business had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. During the same quarter in the prior year, the company posted $2.81 earnings per share. Stryker’s revenue was up 11.1% compared to the same quarter last year. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. As a group, equities analysts expect that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

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

Insider Buying and Selling at Stryker

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

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. Redburn Partners set a $420.00 price target on Stryker in a research note on Thursday, September 18th. Rothschild Redb raised Stryker to a “hold” rating in a research note on Thursday, September 18th. Truist Financial dropped their price target on Stryker from $415.00 to $407.00 and set a “hold” rating on the stock in a research note on Wednesday, October 15th. Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a research note on Saturday, October 18th. Finally, Barclays boosted their price objective on Stryker from $443.00 to $453.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Fifteen research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $432.24.

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.