Stryker Corp. (SYK) Director Sells $2,095,380.00 in Stock
Stryker Corp. (NYSE:SYK) Director Ronda E. Stryker sold 18,000 shares of Stryker Corp. stock in a transaction dated Tuesday, October 11th. The stock was sold at an average price of $116.41, for a total value of $2,095,380.00. Following the completion of the sale, the director now owns 193,142 shares of the company’s stock, valued at $22,483,660.22. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
Stryker Corp. (NYSE:SYK) opened at 113.65 on Monday. Stryker Corp. has a 12-month low of $86.68 and a 12-month high of $123.55. The company has a 50-day moving average price of $115.22 and a 200-day moving average price of $114.11. The stock has a market capitalization of $42.54 billion, a PE ratio of 26.79 and a beta of 0.72.
Stryker Corp. (NYSE:SYK) last announced its earnings results on Thursday, July 21st. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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. Analysts expect that Stryker Corp. will post $5.76 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.34%. The ex-dividend date is Wednesday, September 28th. Stryker Corp.’s dividend payout ratio is currently 35.85%.
Several brokerages have issued reports on SYK. Needham & Company LLC reissued a “hold” rating on shares of Stryker Corp. in a research report on Sunday, July 24th. SunTrust Banks Inc. began coverage on Stryker Corp. in a research report on Thursday. They issued a “buy” rating and a $140.00 target price on the stock. Jefferies Group reissued a “hold” rating and issued a $120.00 target price (up from $113.00) on shares of Stryker Corp. in a research report on Monday, July 25th. Piper Jaffray Cos. raised their target price on Stryker Corp. from $120.00 to $135.00 and gave the stock an “overweight” rating in a research report on Friday, July 22nd. Finally, Brean Capital reissued a “buy” rating and issued a $125.00 target price (up from $121.00) on shares of Stryker Corp. in a research report on Monday, July 25th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. Stryker Corp. has an average rating of “Hold” and an average target price of $117.91.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Acadian Asset Management LLC raised its position in shares of Stryker Corp. by 376,330.6% in the second quarter. Acadian Asset Management LLC now owns 135,515 shares of the medical technology company’s stock worth $16,238,000 after buying an additional 135,479 shares in the last quarter. Fundsmith LLP raised its position in shares of Stryker Corp. by 9.1% in the second quarter. Fundsmith LLP now owns 3,932,735 shares of the medical technology company’s stock worth $471,260,000 after buying an additional 327,206 shares in the last quarter. Huntington National Bank raised its position in shares of Stryker Corp. by 36.4% in the second quarter. Huntington National Bank now owns 158,939 shares of the medical technology company’s stock worth $19,046,000 after buying an additional 42,423 shares in the last quarter. Confluence Investment Management LLC raised its position in shares of Stryker Corp. by 1.1% in the second quarter. Confluence Investment Management LLC now owns 525,675 shares of the medical technology company’s stock worth $62,992,000 after buying an additional 5,706 shares in the last quarter. Finally, Prudential PLC raised its position in shares of Stryker Corp. by 17.3% in the first quarter. Prudential PLC now owns 77,352 shares of the medical technology company’s stock worth $8,299,000 after buying an additional 11,432 shares in the last quarter. 75.49% of the stock is currently owned by institutional investors.
About Stryker Corp.
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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