Stryker Corp. (SYK) Director Ronda E. Stryker Sells 12,000 Shares of Stock
Stryker Corp. (NYSE:SYK) Director Ronda E. Stryker sold 12,000 shares of the firm’s stock in a transaction that occurred on Monday, October 17th. The stock was sold at an average price of $113.95, for a total transaction of $1,367,400.00. Following the sale, the director now directly owns 193,142 shares of the company’s stock, valued at approximately $22,008,530.90. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
Shares of Stryker Corp. (NYSE:SYK) opened at 113.57 on Tuesday. Stryker Corp. has a 52 week low of $86.68 and a 52 week high of $123.55. The stock has a market cap of $42.51 billion, a price-to-earnings ratio of 26.77 and a beta of 0.72. The firm has a 50-day moving average price of $115.20 and a 200 day moving average price of $114.25.
Stryker Corp. (NYSE:SYK) last posted its quarterly earnings data on Thursday, July 21st. The medical technology company reported $1.39 EPS for the quarter, topping 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 firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.79 billion. On average, analysts forecast that Stryker Corp. will post $5.76 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be paid a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend is Wednesday, September 28th. Stryker Corp.’s dividend payout ratio (DPR) is currently 35.85%.
Several research firms recently issued reports on SYK. SunTrust Banks Inc. began coverage on shares of Stryker Corp. in a research report on Thursday, October 13th. They issued a “buy” rating and a $140.00 price target for the company. Zacks Investment Research downgraded shares of Stryker Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, September 27th. Brean Capital restated 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. Jefferies Group restated a “hold” rating and set a $120.00 price objective (up from $113.00) on shares of Stryker Corp. in a research note on Monday, July 25th. Finally, Canaccord Genuity restated a “buy” rating and set a $130.00 price objective on shares of Stryker Corp. in a research note on Sunday, July 24th. Three investment 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. currently has an average rating of “Hold” and an average target price of $117.91.
Several hedge funds and other institutional investors have recently bought and sold shares of SYK. LSV Asset Management bought a new position in Stryker Corp. during the second quarter valued at approximately $107,000. Global X Management Co. LLC increased its stake in shares of 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 during the period. Carroll Financial Associates Inc. increased its stake in shares of 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 during the period. CWM LLC acquired a new stake in shares of Stryker Corp. during the second quarter valued at about $150,000. Finally, Daiwa SB Investments Ltd. acquired a new stake in shares of Stryker Corp. during the third quarter valued at about $163,000. 75.50% of the stock is currently owned by hedge funds and other 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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