Insider Selling: Stryker Director Sells 14,000 Shares of Stock (SYK)
Stryker (NYSE:SYK) Director Ronda E. Stryker unloaded 14,000 shares of the stock in a transaction that occurred on Friday, August 15th. The stock was sold at an average price of $80.69, for a total transaction of $1,129,660.00. Following the sale, the director now directly owns 174,605 shares in the company, valued at approximately $14,088,877. The sale was disclosed in a legal filing 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 a consensus rating of “Buy” and an average price target of $86.18.
Stryker (NYSE:SYK) traded down 0.90% during mid-day trading on Friday, hitting $80.19. 493,193 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 has a 50-day moving average of $82.00 and a 200-day moving average of $81.27. The company has a market cap of $30.358 billion and a P/E ratio of 45.21. Stryker also saw unusually large options trading on Wednesday. Investors bought 1,534 call options on the company. This is an increase of approximately 200% compared to the average daily volume of 511 call options.
Stryker (NYSE:SYK) last issued its quarterly earnings data 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 announced a quarterly dividend, which is scheduled for Friday, October 31st. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.305 per share. This represents a $1.22 annualized dividend and a dividend yield of 1.51%. The ex-dividend date is Friday, September 26th.
Stryker Corporation (NYSE:SYK) is a medical technology company.
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