Stryker Corp. (SYK) VP Yin C. Becker Sells 1,111 Shares of Stock
Stryker Corp. (NYSE:SYK) VP Yin C. Becker sold 1,111 shares of Stryker Corp. stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $117.00, for a total transaction of $129,987.00. Following the sale, the vice president now directly owns 16,939 shares of the company’s stock, valued at approximately $1,981,863. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Shares of Stryker Corp. (NYSE:SYK) opened at 113.92 on Thursday. The stock has a 50 day moving average of $115.19 and a 200-day moving average of $114.05. Stryker Corp. has a one year low of $86.68 and a one year high of $123.55. The company has a market capitalization of $42.64 billion, a PE ratio of 26.86 and a beta of 0.72.
Stryker Corp. (NYSE:SYK) last released its quarterly earnings results on Thursday, July 21st. The medical technology company reported $1.39 earnings per share for the quarter, beating analysts’ consensus estimates of $1.37 by $0.02. Stryker Corp. had a net margin of 15.33% and a return on equity of 23.61%. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.79 billion. On average, equities analysts forecast that Stryker Corp. will post $5.76 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be given a dividend of $0.38 per share. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Wednesday, September 28th. Stryker Corp.’s payout ratio is currently 35.85%.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC purchased a new position in Stryker Corp. during the first quarter worth $272,490,000. Winslow Capital Management LLC purchased a new position in Stryker Corp. during the second quarter worth $174,599,000. Capital Research Global Investors raised its position in Stryker Corp. by 3.4% in the second quarter. Capital Research Global Investors now owns 32,980,782 shares of the medical technology company’s stock worth $3,952,087,000 after buying an additional 1,095,549 shares during the last quarter. BlackRock Fund Advisors raised its position in Stryker Corp. by 20.1% in the second quarter. BlackRock Fund Advisors now owns 6,280,516 shares of the medical technology company’s stock worth $752,594,000 after buying an additional 1,051,648 shares during the last quarter. Finally, Emerald Acquisition Ltd. purchased a new position in Stryker Corp. during the second quarter worth $104,111,000. 75.49% of the stock is currently owned by institutional investors.
A number of analysts have commented on the stock. Canaccord Genuity reaffirmed a “buy” rating and set a $130.00 target price on shares of Stryker Corp. in a report on Sunday, July 24th. JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $119.00 target price on shares of Stryker Corp. in a report on Friday, July 22nd. Piper Jaffray Cos. lifted their target price on shares of Stryker Corp. from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, July 22nd. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $124.00 target price (up previously from $110.00) on shares of Stryker Corp. in a report on Tuesday, July 19th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $120.00 target price (up previously from $113.00) on shares of Stryker Corp. in a report on Monday, July 25th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company. Stryker Corp. currently has an average 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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