Stryker Corp. (SYK) Director Sells $690,180.00 in Stock
Stryker Corp. (NYSE:SYK) Director Ronda E. Stryker sold 6,000 shares of the business’s stock in a transaction on Wednesday, September 21st. The stock was sold at an average price of $115.03, for a total transaction of $690,180.00. Following the completion of the transaction, the director now owns 193,142 shares in the company, valued at approximately $22,217,124.26. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Stryker Corp. (NYSE:SYK) traded up 1.61% during mid-day trading on Wednesday, reaching $116.44. 1,091,204 shares of the company traded hands. Stryker Corp. has a one year low of $86.68 and a one year high of $123.55. The firm has a market cap of $43.58 billion, a PE ratio of 27.45 and a beta of 0.71. The stock’s 50-day moving average price is $114.36 and its 200-day moving average price is $112.81.
Stryker Corp. (NYSE:SYK) last announced its quarterly earnings data 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 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Wednesday, September 28th. Stryker Corp.’s dividend payout ratio is presently 35.85%.
A number of equities analysts have commented on the stock. Canaccord Genuity reiterated a “buy” rating and issued a $130.00 price objective on shares of Stryker Corp. in a report on Sunday, July 24th. JPMorgan Chase & Co. reiterated a “hold” rating and issued a $119.00 price objective on shares of Stryker Corp. in a report on Friday, July 22nd. Piper Jaffray Cos. boosted their price objective on shares of Stryker Corp. from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, July 22nd. Credit Suisse Group AG restated an “outperform” rating and issued a $124.00 target price (up previously from $110.00) on shares of Stryker Corp. in a research note on Tuesday, July 19th. Finally, Jefferies Group restated a “hold” rating and issued a $120.00 target price (up previously from $113.00) on shares of Stryker Corp. in a research note on Monday, July 25th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $114.91.
Hedge funds have recently made changes to their positions in the company. Douglas Lane & Associates LLC acquired a new stake in shares of Stryker Corp. during the first quarter worth approximately $314,000. OLD National Bancorp IN raised its stake 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 in the last quarter. Moreno Evelyn V raised its stake 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 in the last quarter. Rosenbaum Jay D. raised its stake 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 in the last quarter. Finally, HHG & Company LLC raised its stake 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 in the last quarter. 75.49% 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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