Hennion & Walsh Asset Management Inc. Raises Position in Stryker Co. (NYSE:SYK)

Hennion & Walsh Asset Management Inc. raised its holdings in Stryker Co. (NYSE:SYK - Free Report) by 7.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 9,788 shares of the medical technology company's stock after acquiring an additional 672 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in Stryker were worth $3,524,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Dunhill Financial LLC raised its holdings in Stryker by 94.9% in the 3rd quarter. Dunhill Financial LLC now owns 76 shares of the medical technology company's stock valued at $27,000 after acquiring an additional 37 shares during the last quarter. Centennial Bank AR increased its holdings in shares of Stryker by 106.7% during the 2nd quarter. Centennial Bank AR now owns 93 shares of the medical technology company's stock worth $32,000 after buying an additional 48 shares during the last quarter. Darwin Wealth Management LLC acquired a new stake in shares of Stryker during the 3rd quarter worth approximately $36,000. Hara Capital LLC acquired a new stake in shares of Stryker during the 3rd quarter worth approximately $42,000. Finally, HBW Advisory Services LLC acquired a new stake in shares of Stryker during the 3rd quarter worth approximately $42,000. Institutional investors and hedge funds own 77.09% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on SYK shares. Truist Financial raised their price target on shares of Stryker from $380.00 to $409.00 and gave the stock a "hold" rating in a report on Wednesday, December 18th. Canaccord Genuity Group raised their price target on shares of Stryker from $360.00 to $400.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. Citigroup increased their price objective on shares of Stryker from $411.00 to $450.00 and gave the stock a "buy" rating in a research report on Wednesday, December 11th. Morgan Stanley raised shares of Stryker from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $370.00 to $445.00 in a research report on Monday, December 2nd. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $425.00 price objective on shares of Stryker in a research report on Tuesday, January 7th. Four analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $405.80.

Stryker Stock Up 0.6 %

NYSE:SYK traded up $2.12 during midday trading on Friday, hitting $383.91. 1,727,106 shares of the company were exchanged, compared to its average volume of 1,369,021. The company has a fifty day simple moving average of $375.35 and a 200 day simple moving average of $358.48. Stryker Co. has a fifty-two week low of $307.23 and a fifty-two week high of $398.20. The company has a current ratio of 1.91, a quick ratio of 1.22 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $146.35 billion, a PE ratio of 41.15, a price-to-earnings-growth ratio of 2.51 and a beta of 0.95.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings data on Tuesday, October 29th. The medical technology company reported $2.87 EPS for the quarter, beating analysts' consensus estimates of $2.77 by $0.10. The company had revenue of $5.49 billion for the quarter, compared to analyst estimates of $5.37 billion. Stryker had a net margin of 16.34% and a return on equity of 23.07%. Stryker's quarterly revenue was up 11.9% on a year-over-year basis. During the same period in the previous year, the business posted $2.46 earnings per share. As a group, equities analysts anticipate that Stryker Co. will post 12.06 earnings per share for the current fiscal year.

Stryker Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from Stryker's previous quarterly dividend of $0.80. This represents a $3.36 dividend on an annualized basis and a yield of 0.88%. Stryker's payout ratio is currently 36.01%.

Insider Buying and Selling at Stryker

In other news, CEO Kevin Lobo sold 57,313 shares of Stryker stock in a transaction dated Thursday, November 7th. The shares were sold at an average price of $368.70, for a total value of $21,131,303.10. Following the sale, the chief executive officer now owns 100,027 shares of the company's stock, valued at $36,879,954.90. The trade was a 36.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 5.50% of the stock is currently owned by company insiders.

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.