Hennion & Walsh Asset Management Inc. Grows Stock Holdings in Stryker Co. (NYSE:SYK)

Hennion & Walsh Asset Management Inc. lifted its position in Stryker Co. (NYSE:SYK) by 74.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,915 shares of the medical technology company’s stock after buying an additional 2,102 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Stryker were worth $1,759,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Burkett Financial Services LLC purchased a new position in Stryker in the fourth quarter worth $25,000. Farmers & Merchants Trust Co of Chambersburg PA grew its stake in Stryker by 203.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after buying an additional 61 shares during the last quarter. Rogco LP acquired a new position in Stryker during the 4th quarter valued at about $30,000. DSM Capital Partners LLC purchased a new stake in Stryker in the fourth quarter valued at about $34,000. Finally, HBC Financial Services PLLC purchased a new stake in Stryker in the fourth quarter valued at about $37,000. Institutional investors own 77.09% of the company’s stock.

Stryker Stock Up 0.1 %

SYK stock opened at $340.25 on Friday. Stryker Co. has a 52 week low of $249.98 and a 52 week high of $361.41. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56. The firm has a 50-day simple moving average of $337.38 and a 200-day simple moving average of $333.66. The stock has a market capitalization of $129.62 billion, a P/E ratio of 38.84, a P/E/G ratio of 2.68 and a beta of 0.92.

Stryker (NYSE:SYK) last announced its earnings results on Tuesday, April 30th. The medical technology company reported $2.50 EPS for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. The business had revenue of $5.24 billion during the quarter, compared to analysts’ expectations of $5.10 billion. Stryker had a return on equity of 23.05% and a net margin of 16.03%. The business’s revenue was up 9.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.14 earnings per share. Equities analysts forecast that Stryker Co. will post 11.95 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Friday, June 28th. Stryker’s payout ratio is 36.53%.

Analyst Ratings Changes

Several research firms have recently issued reports on SYK. Wells Fargo & Company upped their price objective on shares of Stryker from $364.00 to $381.00 and gave the company an “overweight” rating in a report on Wednesday, May 1st. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, June 25th. TD Cowen boosted their price objective on shares of Stryker from $365.00 to $400.00 and gave the company a “buy” rating in a report on Thursday, April 11th. BTIG Research upped their target price on Stryker from $366.00 to $369.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st. Finally, Evercore ISI boosted their price target on Stryker from $340.00 to $370.00 and gave the company an “outperform” rating in a research note on Thursday, April 4th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $370.58.

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.