Envestnet Portfolio Solutions Inc. Decreases Position in Stryker Co. (NYSE:SYK)

Envestnet Portfolio Solutions Inc. cut its position in Stryker Co. (NYSE:SYK) by 20.5% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 14,806 shares of the medical technology company’s stock after selling 3,823 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Stryker were worth $5,331,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. State Street Corp raised its holdings in Stryker by 2.2% in the third quarter. State Street Corp now owns 14,582,959 shares of the medical technology company’s stock worth $5,279,788,000 after buying an additional 316,404 shares during the last quarter. FMR LLC raised its holdings in Stryker by 3.0% in the third quarter. FMR LLC now owns 7,306,994 shares of the medical technology company’s stock worth $2,639,725,000 after buying an additional 215,782 shares during the last quarter. Geode Capital Management LLC raised its holdings in Stryker by 2.5% in the third quarter. Geode Capital Management LLC now owns 6,905,126 shares of the medical technology company’s stock worth $2,484,893,000 after buying an additional 165,490 shares during the last quarter. Parnassus Investments LLC purchased a new position in Stryker in the third quarter worth about $762,798,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in Stryker by 2.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,985,045 shares of the medical technology company’s stock worth $714,715,000 after buying an additional 48,819 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Performance

SYK opened at $376.13 on Wednesday. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19. The company has a 50 day simple moving average of $383.71 and a two-hundred day simple moving average of $373.82. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.95 and a quick ratio of 1.32. The firm has a market cap of $143.52 billion, a P/E ratio of 48.47, a PEG ratio of 2.93 and a beta of 0.95.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same period in the prior year, the firm earned $3.46 EPS. Equities analysts forecast that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend is Monday, March 31st. Stryker’s payout ratio is 43.30%.

Insider Activity at Stryker

In related news, Director Allan C. Golston sold 2,458 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total transaction of $941,586.06. Following the sale, the director now owns 14,895 shares of the company’s stock, valued at $5,705,827.65. This represents a 14.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Ronda E. Stryker sold 201,392 shares of the company’s stock in a transaction on Friday, January 31st. The shares were sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the sale, the director now directly owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. The trade was a 5.24 % decrease in their position. The disclosure for this sale can be found here. 5.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SYK. Truist Financial lifted their price target on shares of Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. The Goldman Sachs Group set a $422.00 price target on shares of Stryker in a research note on Tuesday, March 4th. Wells Fargo & Company lifted their price target on shares of Stryker from $427.00 to $435.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 29th. Canaccord Genuity Group lifted their price target on shares of Stryker from $420.00 to $435.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Finally, StockNews.com lowered shares of Stryker from a “buy” rating to a “hold” rating in a research note on Thursday, March 6th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Stryker has an average rating of “Moderate Buy” and a consensus target price of $421.90.

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.