Investors Sell Shares of Stryker Corporation (SYK) on Strength (SYK)
Traders sold shares of Stryker Corporation (NYSE:SYK) on strength during trading on Tuesday. $32.09 million flowed into the stock on the tick-up and $72.39 million flowed out of the stock on the tick-down, for a money net flow of $40.30 million out of the stock. Of all stocks tracked, Stryker Corporation had the 0th highest net out-flow for the day. Stryker Corporation traded up $0.52 for the day and closed at $141.61
A number of research analysts have commented on the company. Cowen and Company reaffirmed a “buy” rating and set a $160.00 target price (up previously from $150.00) on shares of Stryker Corporation in a report on Sunday, July 30th. Zacks Investment Research downgraded Stryker Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. BidaskClub raised Stryker Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Oppenheimer Holdings, Inc. set a $148.00 target price on Stryker Corporation and gave the stock a “hold” rating in a report on Friday, July 28th. Finally, Stifel Nicolaus increased their target price on Stryker Corporation from $151.00 to $158.00 and gave the stock a “buy” rating in a report on Friday, July 28th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $145.73.
The firm has a market cap of $53.03 billion, a PE ratio of 31.642 and a beta of 0.81. The company’s 50 day moving average is $144.32 and its 200-day moving average is $138.04.
Stryker Corporation (NYSE:SYK) last released its quarterly earnings data on Thursday, July 27th. The medical technology company reported $1.53 earnings per share for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.98 billion. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. The company’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.39 earnings per share. On average, equities analysts anticipate that Stryker Corporation will post $6.46 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be issued a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Thursday, September 28th. Stryker Corporation’s payout ratio is 37.95%.
In other news, insider Lonny J. Carpenter sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $146.36, for a total value of $731,800.00. Following the transaction, the insider now directly owns 88,207 shares of the company’s stock, valued at approximately $12,909,976.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David Floyd sold 19,305 shares of the business’s stock in a transaction that occurred on Wednesday, July 12th. The stock was sold at an average price of $144.56, for a total value of $2,790,730.80. The disclosure for this sale can be found here. Insiders sold a total of 25,429 shares of company stock worth $3,686,927 over the last three months. 7.40% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in SYK. Everett Harris & Co. CA boosted its holdings in shares of Stryker Corporation by 95.5% in the 1st quarter. Everett Harris & Co. CA now owns 3,285 shares of the medical technology company’s stock worth $432,000 after acquiring an additional 1,605 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Stryker Corporation by 4.2% in the 1st quarter. Russell Investments Group Ltd. now owns 666,831 shares of the medical technology company’s stock worth $87,810,000 after acquiring an additional 26,874 shares in the last quarter. IFP Advisors Inc boosted its holdings in shares of Stryker Corporation by 24.0% in the 1st quarter. IFP Advisors Inc now owns 10,169 shares of the medical technology company’s stock worth $1,339,000 after acquiring an additional 1,967 shares in the last quarter. Greenwich Wealth Management LLC acquired a new position in shares of Stryker Corporation in the 1st quarter worth approximately $214,000. Finally, iAB Financial Bank boosted its holdings in shares of Stryker Corporation by 1.4% in the 1st quarter. iAB Financial Bank now owns 35,104 shares of the medical technology company’s stock worth $4,621,000 after acquiring an additional 468 shares in the last quarter. 74.18% of the stock is currently owned by institutional investors and hedge funds.
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Stryker Corporation Company Profile
Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.