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

Envestnet Asset Management Inc. cut its stake in shares of Stryker Co. (NYSE:SYK) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 625,134 shares of the medical technology company’s stock after selling 7,553 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.16% of Stryker worth $225,079,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Stryker during the 4th quarter valued at $25,000. Dunhill Financial LLC raised its holdings in Stryker by 94.9% during the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock valued at $27,000 after acquiring an additional 37 shares during the period. Rakuten Securities Inc. lifted its position in shares of Stryker by 618.2% in the fourth quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company’s stock valued at $28,000 after acquiring an additional 68 shares in the last quarter. Centricity Wealth Management LLC bought a new position in shares of Stryker in the fourth quarter worth about $30,000. Finally, BankPlus Trust Department purchased a new stake in shares of Stryker during the fourth quarter worth about $33,000. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Performance

Shares of NYSE:SYK opened at $346.14 on Monday. The company has a current ratio of 1.95, a quick ratio of 1.32 and a debt-to-equity ratio of 0.59. Stryker Co. has a 12 month low of $314.93 and a 12 month high of $406.19. The company has a market capitalization of $132.12 billion, a price-to-earnings ratio of 44.61, a PEG ratio of 2.93 and a beta of 0.95. The firm’s 50-day moving average is $381.69 and its 200 day moving average is $374.39.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, beating analysts’ consensus estimates of $3.87 by $0.14. Stryker had a return on equity of 23.58% and a net margin of 13.25%. During the same quarter in the previous year, the business earned $3.46 EPS. Research analysts predict that Stryker Co. will post 13.47 EPS for the current year.

Stryker Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders 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 dividend yield of 0.97%. The ex-dividend date is Monday, March 31st. Stryker’s dividend payout ratio is currently 43.30%.

Analysts Set New Price Targets

A number of research analysts recently commented on SYK shares. Truist Financial boosted their price target on Stryker from $409.00 to $413.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Stifel Nicolaus boosted their target price on shares of Stryker from $400.00 to $440.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Canaccord Genuity Group raised their target price on shares of Stryker from $420.00 to $435.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Needham & Company LLC reiterated a “buy” rating and issued a $442.00 price target on shares of Stryker in a research note on Friday, March 21st. Finally, The Goldman Sachs Group set a $422.00 price objective on Stryker in a research report on Tuesday, March 4th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $421.90.

Insider Transactions at Stryker

In other Stryker news, Director Allan C. Golston sold 2,458 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the transaction, the director now directly owns 14,895 shares in the company, valued at $5,705,827.65. This represents a 14.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Ronda E. Stryker sold 201,392 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the transaction, the director now directly owns 3,642,075 shares in the company, valued at approximately $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.50% of the company’s stock.

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.