Hennion & Walsh Asset Management Inc. Buys 1,806 Shares of Stryker Co. (NYSE:SYK)

Hennion & Walsh Asset Management Inc. raised its holdings in Stryker Co. (NYSE:SYK - Free Report) by 18.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,594 shares of the medical technology company's stock after buying an additional 1,806 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in Stryker were worth $4,316,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of SYK. Heritage Family Offices LLP boosted its position in shares of Stryker by 1.2% during the 1st quarter. Heritage Family Offices LLP now owns 6,101 shares of the medical technology company's stock worth $2,271,000 after purchasing an additional 74 shares in the last quarter. Clarus Wealth Advisors acquired a new stake in Stryker in the first quarter valued at approximately $273,000. CGN Advisors LLC increased its holdings in shares of Stryker by 13.1% during the first quarter. CGN Advisors LLC now owns 939 shares of the medical technology company's stock valued at $350,000 after acquiring an additional 109 shares in the last quarter. Unigestion Holding SA raised its position in shares of Stryker by 182.4% during the first quarter. Unigestion Holding SA now owns 4,533 shares of the medical technology company's stock worth $1,687,000 after purchasing an additional 2,928 shares during the period. Finally, Rialto Wealth Management LLC lifted its holdings in shares of Stryker by 1.4% in the 1st quarter. Rialto Wealth Management LLC now owns 3,393 shares of the medical technology company's stock worth $1,263,000 after purchasing an additional 47 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on SYK. Needham & Company LLC restated a "buy" rating and set a $442.00 price objective on shares of Stryker in a report on Friday, March 21st. Wall Street Zen lowered shares of Stryker from a "buy" rating to a "hold" rating in a report on Thursday, March 6th. Roth Mkm lifted their price target on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a research note on Friday, May 2nd. Citigroup reissued a "buy" rating and set a $455.00 price objective (up from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Finally, Barclays raised their target price on Stryker from $418.00 to $443.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Five equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, Stryker currently has an average rating of "Moderate Buy" and an average price target of $427.30.

Insider Buying and Selling

In related news, Director Ronda E. Stryker sold 200,000 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $376.96, for a total value of $75,392,000.00. Following the completion of the transaction, the director now directly owns 3,417,326 shares of the company's stock, valued at approximately $1,288,195,208.96. This trade represents a 5.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.90% of the stock is currently owned by insiders.

Stryker Stock Performance

NYSE SYK traded up $0.77 during trading hours on Friday, reaching $383.87. 347,318 shares of the company were exchanged, compared to its average volume of 1,328,788. The stock has a market capitalization of $146.52 billion, a P/E ratio of 49.48, a P/E/G ratio of 2.93 and a beta of 0.93. 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 1 year low of $314.93 and a 1 year high of $406.19. The business's 50 day simple moving average is $369.88 and its 200-day simple moving average is $376.06.

Stryker (NYSE:SYK - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The medical technology company reported $2.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.73 by $0.11. Stryker had a net margin of 13.25% and a return on equity of 23.58%. The company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $5.68 billion. During the same quarter last year, the business posted $2.50 EPS. Stryker's quarterly revenue was up 11.9% compared to the same quarter last year. On average, equities research analysts expect that Stryker Co. will post 13.47 earnings per share for the current year.

Stryker Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $3.36 annualized dividend and a dividend yield of 0.88%. Stryker's payout ratio is 45.41%.

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.