Hennion & Walsh Asset Management Inc. Purchases 754 Shares of Stryker Co. (NYSE:SYK)

Hennion & Walsh Asset Management Inc. boosted its position in Stryker Co. (NYSE:SYK) by 15.3% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,669 shares of the medical technology company’s stock after purchasing an additional 754 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Stryker were worth $1,929,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in SYK. Norges Bank bought a new stake in Stryker in the 4th quarter valued at $1,260,562,000. Global Assets Advisory LLC bought a new stake in shares of Stryker during the 1st quarter valued at $341,049,000. JPMorgan Chase & Co. lifted its position in shares of Stryker by 10.4% during the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock valued at $3,096,078,000 after acquiring an additional 813,311 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Stryker by 5.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock valued at $3,755,782,000 after acquiring an additional 642,178 shares during the period. Finally, 1832 Asset Management L.P. lifted its position in shares of Stryker by 146.9% during the 1st quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock valued at $314,449,000 after acquiring an additional 522,817 shares during the period. 77.09% of the stock is currently owned by institutional investors.

Stryker Stock Up 0.9 %

Shares of SYK traded up $3.06 during mid-day trading on Monday, reaching $340.95. The company had a trading volume of 610,027 shares, compared to its average volume of 1,314,322. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68. The firm has a 50-day moving average price of $335.82 and a 200 day moving average price of $340.80. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $361.41. The company has a market capitalization of $129.93 billion, a price-to-earnings ratio of 38.63, a price-to-earnings-growth ratio of 2.57 and a beta of 0.89.

Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The firm had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. During the same period in the previous year, the firm posted $2.54 EPS. The business’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, sell-side analysts forecast that Stryker Co. will post 11.99 EPS for the current year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 annualized dividend and a yield of 0.94%. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Analyst Ratings Changes

SYK has been the subject of a number of recent research reports. Needham & Company LLC upped their target price on Stryker from $392.00 to $393.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Evercore ISI lowered their target price on Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $386.00 target price on shares of Stryker in a report on Wednesday, July 31st. UBS Group upped their target price on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Finally, Piper Sandler upped their target price on Stryker from $375.00 to $380.00 and gave the stock an “overweight” rating in a report on Wednesday, May 1st. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $373.11.

Insider Activity at Stryker

In related news, Director Ronda E. Stryker sold 190,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total value of $61,457,400.00. Following the transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at approximately $1,072,790,023.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were sold at an average price of $333.00, for a total transaction of $6,660,000.00. Following the completion of the sale, the chief financial officer now directly owns 2,852 shares in the company, valued at approximately $949,716. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Ronda E. Stryker sold 190,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the sale, the director now owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The disclosure for this sale can be found here. 5.90% of the stock is currently owned by insiders.

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.