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

Hennion & Walsh Asset Management Inc. boosted its stake in shares of Stryker Co. (NYSE:SYK) by 15.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in SYK. Burkett Financial Services LLC purchased a new stake in Stryker during the 4th quarter worth approximately $25,000. Rogco LP purchased a new position in shares of Stryker in the fourth quarter worth $30,000. DSM Capital Partners LLC purchased a new position in shares of Stryker in the fourth quarter worth $34,000. Central Pacific Bank Trust Division purchased a new position in shares of Stryker in the first quarter worth $39,000. Finally, Private Wealth Management Group LLC purchased a new position in shares of Stryker in the fourth quarter worth $40,000. Institutional investors own 77.09% of the company’s stock.

Insider Transactions at Stryker

In other Stryker news, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction dated 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 transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Stryker news, CFO Glenn S. Boehnlein sold 20,000 shares of Stryker stock in a transaction dated 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 transaction, the chief financial officer now directly owns 2,852 shares of the company’s stock, valued at $949,716. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction dated 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. Insiders own 5.90% of the company’s stock.

Analyst Upgrades and Downgrades

SYK has been the subject of a number of research analyst reports. Evercore ISI decreased their price target on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a report on Tuesday, July 2nd. Roth Mkm raised their price target on shares of Stryker from $348.00 to $405.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. Morgan Stanley increased their price objective on shares of Stryker from $345.00 to $350.00 and gave the stock an “equal weight” rating in a research note on Monday, July 15th. BTIG Research cut their price objective on shares of Stryker from $372.00 to $360.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $386.00 price objective on shares of Stryker in a research note on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $373.11.

Stryker Price Performance

Shares of NYSE SYK traded up $3.06 during trading on Monday, hitting $340.95. The company had a trading volume of 610,027 shares, compared to its average volume of 1,314,322. The stock has a fifty day simple moving average of $335.82 and a two-hundred day simple moving average of $340.80. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $361.41. The firm 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. The company has a quick ratio of 0.95, a current ratio of 1.68 and a debt-to-equity ratio of 0.51.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The business had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. During the same quarter last year, the business earned $2.54 earnings per share. The company’s revenue for the quarter was up 8.5% compared to the same quarter last year. On average, research analysts expect that Stryker Co. will post 11.99 earnings per share for the current year.

Stryker Announces Dividend

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

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.