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 the business’s stock in a transaction dated 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 owns 193,142 shares of the company’s stock, valued at $22,220,987.10. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
Stryker Corp. (NYSE:SYK) opened at 118.44 on Friday. Stryker Corp. has a 12 month low of $86.68 and a 12 month high of $123.55. The company has a market cap of $44.33 billion, a P/E ratio of 27.92 and a beta of 0.71. The firm has a 50-day moving average price of $114.46 and a 200 day moving average price of $112.85.
Stryker Corp. (NYSE:SYK) last issued its quarterly earnings data on Thursday, July 21st. The medical technology company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.37 by $0.02. Stryker Corp. had a return on equity of 23.61% and a net margin of 15.33%. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.79 billion. Equities research analysts predict that Stryker Corp. will post $5.76 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.28%. The ex-dividend date of this dividend is Wednesday, September 28th. Stryker Corp.’s payout ratio is currently 35.85%.
SYK has been the subject of a number of recent research reports. Canaccord Genuity restated 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 reiterated an “outperform” rating and set a $124.00 price objective (up from $110.00) on shares of Stryker Corp. in a research note on Tuesday, July 19th. JPMorgan Chase & Co. reiterated a “hold” rating and set a $119.00 price objective on shares of Stryker Corp. in a research note on Friday, July 22nd. Brean Capital reiterated a “buy” rating and set a $125.00 price objective (up from $121.00) on shares of Stryker Corp. in a research note on Monday, July 25th. Finally, 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 note on Tuesday, June 21st. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company’s stock. Stryker Corp. has an average rating of “Hold” and an average target price of $114.91.
A number of hedge funds have recently modified their holdings of SYK. Evercore Wealth Management LLC raised its stake in shares of Stryker Corp. by 0.3% in the second quarter. Evercore Wealth Management LLC now owns 37,045 shares of the medical technology company’s stock valued at $4,439,000 after buying an additional 111 shares during the last quarter. Macquarie Group Ltd. raised its stake in shares of Stryker Corp. by 2.3% in the second quarter. Macquarie Group Ltd. now owns 112,750 shares of the medical technology company’s stock worth $13,511,000 after buying an additional 2,500 shares in the last quarter. Williams Jones & Associates LLC purchased a new stake in shares of Stryker Corp. during the second quarter worth about $8,591,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Stryker Corp. during the second quarter worth about $1,520,000. Finally, Kentucky Retirement Systems purchased a new stake in shares of Stryker Corp. during the second quarter worth about $3,201,000. 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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