Insider Selling: Stryker Corp. (SYK) Director Sells $1,971,540.00 in Stock
Stryker Corp. (NYSE:SYK) Director Ronda E. Stryker sold 18,000 shares of the firm’s stock in a transaction on Tuesday, November 15th. The shares were sold at an average price of $109.53, for a total value of $1,971,540.00. Following the sale, the director now directly owns 193,142 shares of the company’s stock, valued at approximately $21,154,843.26. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
Shares of Stryker Corp. (NYSE:SYK) opened at 110.65 on Friday. The stock’s 50 day moving average price is $114.52 and its 200-day moving average price is $114.94. Stryker Corp. has a 52 week low of $86.68 and a 52 week high of $123.55. The firm has a market capitalization of $41.43 billion, a price-to-earnings ratio of 25.18 and a beta of 0.86.
Stryker Corp. (NYSE:SYK) last issued its quarterly earnings results on Thursday, October 27th. The medical technology company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.02. Stryker Corp. had a return on equity of 23.61% and a net margin of 15.24%. The firm had revenue of $2.83 billion for the quarter, compared to analysts’ expectations of $2.81 billion. During the same quarter in the prior year, the firm earned $1.25 EPS. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. Equities analysts predict that Stryker Corp. will post $5.78 earnings per share for the current year.
Several brokerages have issued reports on SYK. Canaccord Genuity set a $127.00 price target on Stryker Corp. and gave the company a “buy” rating in a report on Sunday, October 30th. Oppenheimer Holdings Inc. set a $122.00 price target on Stryker Corp. and gave the company a “hold” rating in a report on Sunday, October 30th. Needham & Company LLC reissued a “hold” rating on shares of Stryker Corp. in a report on Sunday, July 24th. Jefferies Group reissued 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. Finally, Piper Jaffray Cos. lifted their target price on Stryker Corp. from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, July 22nd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $122.38.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Nuveen Asset Management LLC boosted its position in shares of Stryker Corp. by 0.9% in the first quarter. Nuveen Asset Management LLC now owns 25,177 shares of the medical technology company’s stock worth $2,701,000 after buying an additional 217 shares in the last quarter. Bayesian Capital Management LP bought a new stake in shares of Stryker Corp. during the first quarter worth about $264,000. Mitra Capital LLC bought a new stake in shares of Stryker Corp. during the first quarter worth about $3,723,000. Arizona State Retirement System boosted its stake in shares of Stryker Corp. by 0.7% in the first quarter. Arizona State Retirement System now owns 129,341 shares of the medical technology company’s stock worth $13,877,000 after buying an additional 900 shares during the period. Finally, Royal Bank of Canada boosted its stake in shares of Stryker Corp. by 5.0% in the first quarter. Royal Bank of Canada now owns 726,762 shares of the medical technology company’s stock worth $77,976,000 after buying an additional 34,321 shares during the period. 74.46% of the stock is currently owned by hedge funds and other institutional investors.
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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