Stryker Target of Unusually Large Options Trading (SYK)
Stryker (NYSE:SYK) was the target of some unusual options trading on Wednesday. Investors acquired 1,534 call options on the company, AnalystRatingsNetwork.com reports. This is an increase of 200% compared to the average volume of 511 call options.
In other Stryker news, Director Ronda E. Stryker sold 21,000 shares of the stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $79.93, for a total transaction of $1,678,530.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link.
SYK has been the subject of a number of recent research reports. 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 currently has a consensus rating of “Buy” and an average target price of $86.18.
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 one year low of $66.44 and a one year high of $86.93. The stock’s 50-day moving average is $82.25 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 (NYSE:SYK) last posted its quarterly 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. 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. 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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