Stryker Corp. (SYK) Director Sells $1,396,080.00 in Stock
Stryker Corp. (NYSE:SYK) Director Ronda E. Stryker sold 12,000 shares of Stryker Corp. stock in a transaction that occurred on Wednesday, October 5th. The shares were sold at an average price of $116.34, for a total transaction of $1,396,080.00. Following the completion of the sale, the director now owns 193,142 shares of the company’s stock, valued at $22,470,140.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Stryker Corp. (NYSE:SYK) opened at 116.65 on Friday. The firm has a market cap of $43.66 billion, a price-to-earnings ratio of 27.50 and a beta of 0.72. 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 of $115.00 and a 200 day moving average of $113.75.
Stryker Corp. (NYSE:SYK) last posted its earnings results on Thursday, July 21st. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.02. Stryker Corp. had a net margin of 15.33% and a return on equity of 23.61%. The business had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.79 billion. Equities analysts expect 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 given a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a dividend yield of 1.30%. The ex-dividend date of this dividend is Wednesday, September 28th. Stryker Corp.’s dividend payout ratio (DPR) is currently 35.85%.
SYK has been the subject of several research analyst reports. 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 report on Monday, July 25th. Needham & Company LLC restated a “hold” rating on shares of Stryker Corp. in a research report on Sunday, July 24th. 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 report on Monday, July 25th. Finally, Credit Suisse Group AG restated an “outperform” rating and set a $124.00 price objective (up from $110.00) on shares of Stryker Corp. in a research report on Tuesday, July 19th. Four 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’s stock. The company currently has a consensus rating of “Hold” and an average target price of $114.91.
Hedge funds have recently bought and sold shares of the stock. C M Bidwell & Associates Ltd. bought a new stake in Stryker Corp. during the first quarter valued at $3,489,000. Advisor Partners LLC boosted its stake in Stryker Corp. by 52.3% in the first quarter. Advisor Partners LLC now owns 3,700 shares of the medical technology company’s stock valued at $397,000 after buying an additional 1,271 shares during the period. Bessemer Group Inc. boosted its stake in Stryker Corp. by 0.7% in the first quarter. Bessemer Group Inc. now owns 10,140 shares of the medical technology company’s stock valued at $1,088,000 after buying an additional 73 shares during the period. Canandaigua National Bank & Trust Co. boosted its stake in Stryker Corp. by 1.4% in the first quarter. Canandaigua National Bank & Trust Co. now owns 7,086 shares of the medical technology company’s stock valued at $760,000 after buying an additional 100 shares during the period. Finally, NN Investment Partners Holdings N.V. bought a new stake in Stryker Corp. during the first quarter valued at $1,657,000. Hedge funds and other institutional investors own 75.49% of the company’s stock.
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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