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 business’s stock in a transaction on Friday, September 30th. The stock was sold at an average price of $116.17, for a total transaction of $1,394,040.00. Following the completion of the sale, the director now directly owns 193,142 shares in the company, valued at approximately $22,437,306.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Stryker Corp. (NYSE:SYK) opened at 116.41 on Friday. Stryker Corp. has a 12-month low of $86.68 and a 12-month high of $123.55. The stock has a 50 day moving average of $114.75 and a 200-day moving average of $113.41. The company has a market cap of $43.57 billion, a PE ratio of 27.44 and a beta of 0.71.
Stryker Corp. (NYSE:SYK) last released its earnings results on Thursday, July 21st. The medical technology company reported $1.39 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $2.79 billion. On average, equities research analysts anticipate that Stryker Corp. will post $5.76 earnings per share for the current fiscal year.
The business also recently announced 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. The ex-dividend date is Wednesday, September 28th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.31%. Stryker Corp.’s dividend payout ratio is currently 35.85%.
Large investors have recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its stake in 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 valued at $16,238,000 after buying an additional 135,479 shares during the period. Fundsmith LLP boosted its stake in Stryker Corp. by 9.1% in the second quarter. Fundsmith LLP now owns 3,932,735 shares of the medical technology company’s stock valued at $471,260,000 after buying an additional 327,206 shares during the period. Confluence Investment Management LLC boosted its stake in 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 valued at $62,992,000 after buying an additional 5,706 shares during the period. Prudential PLC boosted its stake in Stryker Corp. by 17.3% in the first quarter. Prudential PLC now owns 77,352 shares of the medical technology company’s stock valued at $8,299,000 after buying an additional 11,432 shares during the period. Finally, Mitra Capital LLC acquired a new stake in Stryker Corp. during the first quarter valued at approximately $3,723,000. 75.49% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages have recently commented on SYK. Piper Jaffray Cos. boosted their price objective on shares of Stryker Corp. from $120.00 to $135.00 and gave the stock 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 from $110.00) on shares of Stryker Corp. in a research report on Tuesday, July 19th. Brean Capital reaffirmed a “buy” rating and set a $125.00 price target (up from $121.00) on shares of Stryker Corp. in a research report on Monday, July 25th. Jefferies Group reaffirmed a “hold” rating and set a $120.00 price target (up from $113.00) on shares of Stryker Corp. in a research report on Monday, July 25th. Finally, Canaccord Genuity reaffirmed a “buy” rating and set a $130.00 price target on shares of Stryker Corp. in a research report on Sunday, July 24th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and eleven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $114.91.
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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