Insider Selling: Stryker Director Sells 21,000 Shares of Stock (SYK)
Stryker (NYSE:SYK) Director Ronda E. Stryker unloaded 21,000 shares of the stock on the open market in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $80.07, for a total value of $1,681,470.00. Following the transaction, the director now directly owns 174,605 shares of the company’s stock, valued at approximately $13,980,622. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Several analysts have recently commented on the stock. Analysts at Needham & Company LLC upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday. Separately, analysts at Zacks reiterated a “neutral” rating on shares of Stryker in a research note on Monday, July 21st. They now have a $86.00 price target on the stock. Finally, analysts at Citigroup Inc. reiterated a “neutral” rating on shares of Stryker in a research note on Monday, July 21st. They now have a $90.00 price target on the stock, up previously from $85.00. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $86.18.
Shares of Stryker (NYSE:SYK) traded up 1.46% on Wednesday, hitting $80.75. The stock had a trading volume of 1,629,498 shares. Stryker has a 52 week low of $66.44 and a 52 week high of $86.93. The stock has a 50-day moving average of $82.13 and a 200-day moving average of $81.28. The company has a market cap of $30.570 billion and a price-to-earnings ratio of 44.46. Stryker also was the recipient of some unusual options trading activity on Wednesday. Traders acquired 1,534 call options on the stock. This is an increase of approximately 200% compared to the average daily volume of 511 call options.
Stryker (NYSE:SYK) last announced its earnings results on Thursday, July 17th. The company reported $1.08 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.08. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the company posted $1.00 earnings per share. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. On average, analysts predict that Stryker will post $4.77 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, October 31st. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.305 per share. This represents a $1.22 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend is Friday, September 26th.
Stryker Corporation (NYSE:SYK) is a medical technology company.
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