Stryker Corp. (SYK) Director Sells $664,860.00 in Stock
Stryker Corp. (NYSE:SYK) Director Ronda E. Stryker sold 6,000 shares of the business’s stock in a transaction dated Wednesday, September 14th. The stock was sold at an average price of $110.81, for a total value of $664,860.00. Following the completion of the transaction, the director now directly owns 193,142 shares of the company’s stock, valued at approximately $21,402,065.02. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of Stryker Corp. (NYSE:SYK) opened at 114.42 on Tuesday. Stryker Corp. has a 12-month low of $86.68 and a 12-month high of $123.55. The stock has a market cap of $42.83 billion, a price-to-earnings ratio of 26.97 and a beta of 0.71. The company’s 50-day moving average price is $114.41 and its 200 day moving average price is $112.71.
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, beating the consensus estimate of $1.37 by $0.02. The company earned $2.84 billion during the quarter, compared to analysts’ expectations of $2.79 billion. Stryker Corp. had a return on equity of 23.61% and a net margin of 15.33%. On average, equities analysts predict that Stryker Corp. will post $5.76 earnings per share 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 1.33%. The ex-dividend date of this dividend is Wednesday, September 28th. Stryker Corp.’s payout ratio is currently 35.85%.
A number of hedge funds have recently modified their holdings of the stock. LSV Asset Management acquired a new stake in shares of Stryker Corp. during the second quarter valued at approximately $107,000. Global X Management Co. LLC raised 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 last quarter. Carroll Financial Associates Inc. raised 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 last quarter. CWM LLC acquired a new stake in shares of Stryker Corp. during the second quarter valued at approximately $150,000. Finally, SevenBridge Financial Group LLC acquired a new stake in shares of Stryker Corp. during the second quarter valued at approximately $197,000. 75.48% of the stock is currently owned by institutional investors.
A number of equities analysts have weighed in on the company. Canaccord Genuity reissued a “buy” rating and issued a $130.00 target price on shares of Stryker Corp. in a research report on Sunday, July 24th. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $119.00 price target on shares of Stryker Corp. in a research report on Friday, July 22nd. Piper Jaffray Cos. upped their price target on shares of Stryker Corp. from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, July 22nd. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $124.00 price target (up previously from $110.00) on shares of Stryker Corp. in a research report on Tuesday, July 19th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $120.00 price target (up previously from $113.00) on shares of Stryker Corp. in a research report on Monday, July 25th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company’s stock. Stryker Corp. has an average rating of “Hold” and an average price target of $114.91.
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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