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

Envestnet Asset Management Inc. increased its stake in Stryker Corporation (NYSE:SYK) by 0.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 634,181 shares of the medical technology company’s stock after buying an additional 2,001 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.17% of Stryker worth $250,901,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. Nuveen LLC acquired a new stake in Stryker during the 1st quarter valued at $558,075,000. Price T Rowe Associates Inc. MD lifted its holdings in Stryker by 9.2% during the 1st 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 purchasing an additional 1,021,496 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in Stryker by 66.7% during the 1st quarter. Alliancebernstein L.P. now owns 1,373,142 shares of the medical technology company’s stock valued at $511,152,000 after purchasing an additional 549,643 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Stryker by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 33,059,964 shares of the medical technology company’s stock valued at $12,306,572,000 after purchasing an additional 361,136 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Stryker by 13.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 2,252,895 shares of the medical technology company’s stock valued at $838,640,000 after purchasing an additional 261,058 shares during the last quarter. Institutional investors and hedge funds own 77.09% of the company’s stock.

Stryker Stock Up 0.5%

Shares of NYSE SYK opened at $383.56 on Tuesday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.06 and a current ratio of 1.78. Stryker Corporation has a 52 week low of $329.16 and a 52 week high of $406.19. The stock has a market capitalization of $146.64 billion, a P/E ratio of 50.80, a PEG ratio of 2.75 and a beta of 0.94. The stock’s fifty day moving average is $379.87 and its 200 day moving average is $380.29.

Stryker (NYSE:SYK) last issued its quarterly earnings results 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. Stryker had a return on equity of 23.94% and a net margin of 12.25%.The company had revenue of $6.02 billion for the quarter, compared to analysts’ expectations of $5.92 billion. During the same quarter last year, the business earned $2.81 earnings per share. Stryker’s revenue was up 11.1% on a year-over-year basis. Stryker has set its FY 2025 guidance at 13.400-13.600 EPS. Sell-side analysts forecast that Stryker Corporation will post 13.47 earnings per share for the current fiscal year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker’s dividend payout ratio (DPR) is presently 44.50%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Truist Financial cut their price target on Stryker from $415.00 to $407.00 and set a “hold” rating for the company in a report on Wednesday, October 15th. 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 on the stock. Rothschild Redb upgraded Stryker to a “hold” rating in a research report on Thursday, September 18th. BTIG Research increased their price objective on Stryker from $407.00 to $408.00 and gave the stock a “buy” rating in a research report on Monday, October 13th. Finally, Wall Street Zen upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Saturday, October 18th. Fifteen equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $432.24.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction dated 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 sale, the director directly owned 3,222,108 shares of the company’s stock, valued at approximately $1,212,962,556.60. This trade represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Viju Menon sold 500 shares of Stryker stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $390.61, for a total value of $195,305.00. Following the sale, 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 disclosure for this sale can be found here. Company insiders own 5.90% of the company’s stock.

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.