Stryker Director Unloads $559,160 in Stock (SYK)
Stryker (NYSE:SYK) Director Ronda E. Stryker sold 7,000 shares of Stryker stock on the open market in a transaction dated Monday, August 11th. The shares were sold at an average price of $79.88, for a total transaction of $559,160.00. Following the completion of the sale, the director now directly owns 174,605 shares in the company, valued at approximately $13,947,447. The transaction was disclosed in a document filed with the SEC, which is available at this link.
A number of research firms have recently commented on SYK. 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 investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $86.18.
Shares of Stryker (NYSE:SYK) traded up 1.46% on Wednesday, hitting $80.75. 1,629,498 shares of the company’s stock traded hands. Stryker has a 52 week low of $66.44 and a 52 week high of $86.93. The stock’s 50-day moving average is $82.13 and its 200-day moving average is $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 target of unusually large options trading activity on Wednesday. Investors acquired 1,534 call options on the stock. This represents an increase of approximately 200% compared to the typical volume of 511 call options.
Stryker (NYSE:SYK) last posted its quarterly earnings results on Thursday, July 17th. The company reported $1.08 earnings per share for the quarter, meeting the analysts’ 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 last year, the company posted $1.00 earnings per share. Stryker’s revenue was up 6.8% compared to the same quarter last year. Analysts expect that Stryker will post $4.77 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, October 31st. Shareholders 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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