Envestnet Portfolio Solutions Inc. Raises Stock Holdings in Stryker Co. (NYSE:SYK)

Envestnet Portfolio Solutions Inc. raised its position in shares of Stryker Co. (NYSE:SYK) by 43.1% during the 1st quarter, according to 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 period. Envestnet Portfolio Solutions Inc.’s holdings in Stryker were worth $6,617,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Empirical Finance LLC raised its holdings in Stryker by 3.5% during the 1st quarter. Empirical Finance LLC now owns 12,039 shares of the medical technology company’s stock valued at $4,308,000 after buying an additional 412 shares during the period. Manchester Capital Management LLC raised its holdings in Stryker by 1.4% during the 1st quarter. Manchester Capital Management LLC now owns 2,474 shares of the medical technology company’s stock valued at $885,000 after buying an additional 34 shares during the period. TFG Advisers LLC raised its holdings in Stryker by 0.8% during the 1st quarter. TFG Advisers LLC now owns 13,614 shares of the medical technology company’s stock valued at $4,872,000 after buying an additional 102 shares during the period. Cohen Capital Management Inc. raised its holdings in Stryker by 0.3% during the 1st quarter. Cohen Capital Management Inc. now owns 85,108 shares of the medical technology company’s stock valued at $30,458,000 after buying an additional 261 shares during the period. Finally, WBI Investments LLC purchased a new stake in Stryker during the 1st quarter valued at $1,967,000. 77.09% of the stock is owned by hedge funds and other institutional investors.

Stryker Stock Up 0.4 %

SYK stock traded up $1.28 during trading on Friday, reaching $339.37. 812,736 shares of the company traded hands, compared to its average volume of 1,278,893. Stryker Co. has a 12 month low of $249.98 and a 12 month high of $361.41. 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 capitalization of $129.28 billion, a price-to-earnings ratio of 38.59, a price-to-earnings-growth 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 (NYSE:SYK) last issued its quarterly earnings data 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. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The company had revenue of $5.24 billion for the quarter, compared to the consensus estimate of $5.10 billion. During the same quarter last year, the company earned $2.14 earnings per share. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. On average, equities research analysts anticipate that Stryker Co. will post 11.95 earnings per share for the current fiscal 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 $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date is Friday, June 28th. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Evercore ISI decreased their price target on Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Wells Fargo & Company upped their price objective on Stryker from $364.00 to $381.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Royal Bank of Canada upped their price objective on Stryker from $360.00 to $386.00 and gave the company an “outperform” rating in a research report on Monday, April 15th. BTIG Research upped their price objective on Stryker from $366.00 to $369.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Robert W. Baird upped their price objective on Stryker from $367.00 to $378.00 and gave the company an “outperform” rating in a research report on Wednesday, May 1st. Four investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.