Ronda E. Stryker Sells 12,000 Shares of Stryker Corp. (SYK) Stock
Stryker Corp. (NYSE:SYK) Director Ronda E. Stryker sold 12,000 shares of Stryker Corp. stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $115.05, for a total value of $1,380,600.00. Following the sale, the director now directly owns 193,142 shares of the company’s stock, valued at approximately $22,220,987.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Stryker Corp. (NYSE:SYK) opened at 114.60 on Wednesday. The company has a market capitalization of $42.90 billion, a PE ratio of 27.02 and a beta of 0.71. The stock has a 50 day moving average price of $114.34 and a 200-day moving average price of $112.79. Stryker Corp. has a 12 month low of $86.68 and a 12 month high of $123.55.
Stryker Corp. (NYSE:SYK) last issued its earnings results on Thursday, July 21st. The medical technology company reported $1.39 EPS for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.02. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.79 billion. Stryker Corp. had a net margin of 15.33% and a return on equity of 23.61%. Analysts forecast that Stryker Corp. will post $5.76 EPS for the current year.
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The business also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend is Wednesday, September 28th. Stryker Corp.’s dividend payout ratio (DPR) is presently 35.85%.
Several equities research analysts have issued reports on SYK shares. Canaccord Genuity reaffirmed a “buy” rating and set a $130.00 price target on shares of Stryker Corp. in a research note on Sunday, July 24th. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $124.00 price target (up previously from $110.00) on shares of Stryker Corp. in a research note on Tuesday, July 19th. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $119.00 price target on shares of Stryker Corp. in a research note on Friday, July 22nd. Zacks Investment Research lowered Stryker Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, May 24th. Finally, Brean Capital reaffirmed a “buy” rating and set a $125.00 price target (up previously from $121.00) on shares of Stryker Corp. in a research note on Monday, July 25th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $114.91.
Several institutional investors have recently modified their holdings of SYK. Douglas Lane & Associates LLC bought a new position in shares of Stryker Corp. during the first quarter worth approximately $314,000. OLD National Bancorp IN raised its position in shares of Stryker Corp. by 2.8% in the first quarter. OLD National Bancorp IN now owns 155,265 shares of the medical technology company’s stock worth $16,658,000 after buying an additional 4,288 shares during the period. Moreno Evelyn V raised its position in shares of Stryker Corp. by 2.8% in the first quarter. Moreno Evelyn V now owns 61,810 shares of the medical technology company’s stock worth $6,631,000 after buying an additional 1,670 shares during the period. Rosenbaum Jay D. raised its position in shares of Stryker Corp. by 4.3% in the first quarter. Rosenbaum Jay D. now owns 13,392 shares of the medical technology company’s stock worth $1,438,000 after buying an additional 546 shares during the period. Finally, HHG & Company LLC raised its position in shares of Stryker Corp. by 6.2% in the first quarter. HHG & Company LLC now owns 15,000 shares of the medical technology company’s stock worth $1,609,000 after buying an additional 870 shares during the period. 75.48% of the stock is currently owned by institutional investors and hedge funds.
Stryker Corp. Company Profile
Stryker Corporation (Stryker) is a medical technology company. The Company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Company’s Orthopaedics segment products consist of implants used in hip and knee joint replacements and trauma and surgeries. The Company’s MedSurg segment products consist of surgical equipment and surgical navigation systems (Instruments); endoscopic and communications systems (Endoscopy); patient handling and emergency medical equipment (Medical), and reprocessed and remanufactured medical devices (Sustainability), as well as other medical device products used in a range of medical specialties.
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