Insider Selling: Stryker Corp. (SYK) Director Sells $2,090,340.00 in Stock
Stryker Corp. (NYSE:SYK) Director Ronda E. Stryker sold 18,000 shares of the company’s stock in a transaction dated Thursday, November 10th. The stock was sold at an average price of $116.13, for a total transaction of $2,090,340.00. Following the completion of the transaction, the director now owns 193,142 shares of the company’s stock, valued at approximately $22,429,580.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Stryker Corp. (NYSE:SYK) opened at 106.68 on Tuesday. Stryker Corp. has a 52-week low of $86.68 and a 52-week high of $123.55. The company’s 50 day moving average is $115.24 and its 200-day moving average is $114.92. The stock has a market cap of $39.95 billion, a PE ratio of 24.28 and a beta of 0.86.
Stryker Corp. (NYSE:SYK) last announced its quarterly earnings data on Thursday, October 27th. The medical technology company reported $1.39 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.02. Stryker Corp. had a net margin of 15.24% and a return on equity of 23.61%. The firm earned $2.83 billion during the quarter, compared to analysts’ expectations of $2.81 billion. During the same quarter last year, the business earned $1.25 earnings per share. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. On average, equities analysts anticipate that Stryker Corp. will post $5.78 earnings per share for the current year.
Hedge funds have recently made changes to their positions in the stock. LSV Asset Management bought a new stake in shares of Stryker Corp. during the second quarter valued at approximately $107,000. Mycio Wealth Partners LLC bought a new stake in shares of Stryker Corp. during the third quarter valued at approximately $116,000. Global X Management Co. LLC boosted 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 period. TLP Group LLC bought a new stake in shares of Stryker Corp. during the third quarter valued at approximately $127,000. Finally, Carroll Financial Associates Inc. boosted 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 period. Hedge funds and other institutional investors own 74.46% of the company’s stock.
A number of brokerages have weighed in on SYK. Zacks Investment Research downgraded shares of Stryker Corp. from a “buy” rating to a “hold” rating in a research report on Monday. Needham & Company LLC reiterated a “hold” rating on shares of Stryker Corp. in a research report on Sunday. BMO Capital Markets upgraded shares of Stryker Corp. from an “underperform” rating to a “market perform” rating and set a $125.00 price objective for the company in a research report on Tuesday, November 1st. They noted that the move was a valuation call. Canaccord Genuity set a $127.00 price objective on shares of Stryker Corp. and gave the stock a “buy” rating in a research report on Sunday, October 30th. Finally, Oppenheimer Holdings Inc. set a $122.00 price objective on shares of Stryker Corp. and gave the stock a “hold” rating in a research report on Sunday, October 30th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $122.86.
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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