Envestnet Portfolio Solutions Inc. Sells 3,823 Shares of Stryker Co. (NYSE:SYK)

Envestnet Portfolio Solutions Inc. decreased its position in shares of Stryker Co. (NYSE:SYK) by 20.5% during the fourth quarter, HoldingsChannel reports. The fund owned 14,806 shares of the medical technology company’s stock after selling 3,823 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Stryker were worth $5,331,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Kohmann Bosshard Financial Services LLC bought a new position in shares of Stryker in the fourth quarter worth about $25,000. Dunhill Financial LLC grew its holdings in shares of Stryker by 94.9% in the third quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company’s stock worth $27,000 after purchasing an additional 37 shares during the last quarter. Rakuten Securities Inc. grew its holdings 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 worth $28,000 after purchasing an additional 68 shares during 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 bought a new position in shares of Stryker in the fourth quarter worth about $33,000. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Up 0.7 %

SYK stock opened at $376.13 on Wednesday. The firm has a 50 day moving average of $383.71 and a 200 day moving average of $373.82. The stock has a market capitalization of $143.52 billion, a PE ratio of 48.47, a price-to-earnings-growth ratio of 2.93 and a beta of 0.95. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. Stryker Co. has a 52 week low of $314.93 and a 52 week high of $406.19.

Stryker (NYSE:SYK) last released its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping analysts’ consensus estimates 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 previous year, the firm posted $3.46 earnings per share. Sell-side analysts forecast that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. JMP Securities reiterated a “market perform” rating on shares of Stryker in a report on Tuesday, February 18th. Wells Fargo & Company raised their target price on shares of Stryker from $427.00 to $435.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Needham & Company LLC reissued a “buy” rating and set a $442.00 target price on shares of Stryker in a research report on Wednesday, January 29th. StockNews.com downgraded shares of Stryker from a “buy” rating to a “hold” rating in a research report on Thursday, March 6th. Finally, JPMorgan Chase & Co. raised their target price on shares of Stryker from $420.00 to $445.00 and gave the company an “overweight” rating in a research report on Wednesday, January 29th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, Stryker currently has an average rating of “Moderate Buy” and a consensus target price of $421.90.

Insider Buying and Selling at Stryker

In other Stryker news, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction that occurred 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 completion of 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Allan C. Golston sold 2,458 shares of Stryker stock in a transaction that occurred 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 transaction, the director now directly owns 14,895 shares of the company’s stock, valued at approximately $5,705,827.65. This trade represents a 14.16 % 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.

Stryker Company 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.