Envestnet Portfolio Solutions Inc. Purchases 5,565 Shares of Stryker Co. (NYSE:SYK)

Envestnet Portfolio Solutions Inc. lifted its position in Stryker Co. (NYSE:SYK) by 43.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,491 shares of the medical technology company’s stock after acquiring an additional 5,565 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Stryker were worth $6,617,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SYK. Aspen Investment Management Inc grew its position in Stryker by 0.7% during the first quarter. Aspen Investment Management Inc now owns 4,368 shares of the medical technology company’s stock valued at $1,563,000 after buying an additional 31 shares during the period. Harbor Investment Advisory LLC grew its position in Stryker by 0.4% during the first quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock valued at $2,499,000 after buying an additional 31 shares during the period. Proficio Capital Partners LLC grew its position in Stryker by 2.4% during the first quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock valued at $507,000 after buying an additional 33 shares during the period. Bremer Bank National Association grew its position in Stryker by 4.0% during the fourth quarter. Bremer Bank National Association now owns 888 shares of the medical technology company’s stock valued at $266,000 after buying an additional 34 shares during the period. Finally, Simon Quick Advisors LLC grew its position in Stryker by 3.0% during the fourth quarter. Simon Quick Advisors LLC now owns 1,158 shares of the medical technology company’s stock valued at $347,000 after buying an additional 34 shares during the period. Institutional investors own 77.09% of the company’s stock.

Stryker Price Performance

SYK traded up $1.28 on Friday, reaching $339.37. The company had a trading volume of 812,736 shares, compared to its average volume of 1,278,893. The business has a 50 day simple moving average of $337.68 and a 200 day simple moving average of $335.97. The company has a market cap of $129.28 billion, a price-to-earnings ratio of 38.59, a P/E/G ratio of 2.66 and a beta of 0.89. The company has a debt-to-equity ratio of 0.56, a quick ratio of 0.99 and a current ratio of 1.71. Stryker Co. has a 52-week low of $249.98 and a 52-week high of $361.41.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 earnings per share for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. Stryker had a net margin of 16.03% and a return on equity of 23.05%. Stryker’s quarterly revenue was up 9.7% on a year-over-year basis. During the same period last year, the firm posted $2.14 earnings per share. As a group, sell-side analysts anticipate that Stryker Co. will post 11.95 EPS for the current year.

Stryker Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be paid a dividend of $0.80 per share. This represents a $3.20 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Friday, June 28th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Analyst Ratings Changes

SYK has been the subject of several research reports. Robert W. Baird increased their price target on shares of Stryker from $367.00 to $378.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Stifel Nicolaus increased their target price on shares of Stryker from $350.00 to $375.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. BTIG Research increased their target price on shares of Stryker from $366.00 to $369.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Piper Sandler increased their target price on shares of Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 1st. Finally, The Goldman Sachs Group assumed coverage on shares of Stryker in a research report on Thursday, May 30th. They set a “neutral” rating and a $372.00 target price for the company. Four 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, Stryker currently has an average rating of “Moderate Buy” and an average price target of $370.32.

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.