Stryker Corp. (SYK) Director Ronda E. Stryker Sells 12,000 Shares
Stryker Corp. (NYSE:SYK) Director Ronda E. Stryker sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, October 13th. The stock was sold at an average price of $113.41, for a total value of $1,360,920.00. Following the completion of the sale, the director now owns 193,142 shares of the company’s stock, valued at $21,904,234.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.
Shares of Stryker Corp. (NYSE:SYK) opened at 113.58 on Friday. The company has a market capitalization of $42.51 billion, a PE ratio of 26.78 and a beta of 0.72. The firm’s 50-day moving average is $115.21 and its 200-day moving average is $114.05. Stryker Corp. has a 12-month low of $86.68 and a 12-month high of $123.55.
Stryker Corp. (NYSE:SYK) last announced its quarterly earnings results on Thursday, July 21st. The medical technology company reported $1.39 earnings per share for the quarter, topping analysts’ consensus estimates of $1.37 by $0.02. The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.79 billion. Stryker Corp. had a net margin of 15.33% and a return on equity of 23.61%. On average, equities research analysts anticipate that Stryker Corp. will post $5.76 EPS for the current fiscal year.
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The company also recently declared 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. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.34%. Stryker Corp.’s dividend payout ratio is 35.85%.
A number of brokerages have recently commented on SYK. Zacks Investment Research upgraded Stryker Corp. from a “hold” rating to a “buy” rating and set a $130.00 price objective for the company in a research report on Tuesday, June 21st. Credit Suisse Group AG reiterated an “outperform” rating and set a $124.00 price objective (up previously from $110.00) on shares of Stryker Corp. in a research report on Tuesday, July 19th. Piper Jaffray Cos. increased their price objective on Stryker Corp. from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, July 22nd. JPMorgan Chase & Co. reiterated a “hold” rating and set a $119.00 price objective on shares of Stryker Corp. in a research report on Friday, July 22nd. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Stryker Corp. in a research report on Sunday, July 24th. 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 presently has a consensus rating of “Hold” and a consensus target price of $114.91.
Institutional investors have recently made changes to their positions in the company. LSV Asset Management bought a new stake in Stryker Corp. during the second quarter valued at approximately $107,000. Global X Management Co. LLC boosted its stake in Stryker Corp. by 235.8% in the second quarter. Global X Management Co. LLC now owns 994 shares of the medical technology company’s stock valued at $119,000 after buying an additional 698 shares in the last quarter. Carroll Financial Associates Inc. boosted its stake in Stryker Corp. by 78.0% in the second quarter. Carroll Financial Associates Inc. now owns 1,086 shares of the medical technology company’s stock valued at $130,000 after buying an additional 476 shares in the last quarter. CWM LLC bought a new stake in Stryker Corp. during the second quarter valued at approximately $150,000. Finally, Daiwa SB Investments Ltd. bought a new stake in Stryker Corp. during the third quarter valued at approximately $163,000. 75.49% of the stock is currently owned by institutional investors.
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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