Ronda E. Stryker Sells 12,000 Shares of Stryker Corp. (SYK) Stock
Stryker Corp. (NYSE:SYK) Director Ronda E. Stryker sold 12,000 shares of the firm’s stock in a transaction on Monday, November 28th. The stock was sold at an average price of $112.73, for a total value of $1,352,760.00. Following the sale, the director now directly owns 193,142 shares of the company’s stock, valued at $21,772,897.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Stryker Corp. (NYSE:SYK) opened at 115.41 on Wednesday. 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 $43.22 billion, a P/E ratio of 26.27 and a beta of 0.86. The company’s 50-day moving average price is $113.51 and its 200-day moving average price is $115.06.
Stryker Corp. (NYSE:SYK) last announced its earnings results on Thursday, October 27th. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, topping the Zacks’ 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 had revenue of $2.83 billion for the quarter, compared to analyst estimates of $2.81 billion. During the same quarter in the prior year, the business posted $1.25 EPS. The business’s revenue was up 17.1% compared to the same quarter last year. On average, equities research analysts expect that Stryker Corp. will post $5.78 EPS for the current fiscal year.
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Several hedge funds and other institutional investors have recently made changes to their positions in the company. D.A. Davidson & CO. raised its position in shares of Stryker Corp. by 24.4% in the third quarter. D.A. Davidson & CO. now owns 17,715 shares of the medical technology company’s stock worth $2,061,000 after buying an additional 3,480 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new position in shares of Stryker Corp. during the third quarter worth about $30,751,000. Colony Group LLC raised its position in shares of Stryker Corp. by 1.9% in the third quarter. Colony Group LLC now owns 3,930 shares of the medical technology company’s stock worth $457,000 after buying an additional 75 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Stryker Corp. by 6.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 17,503,094 shares of the medical technology company’s stock worth $2,037,535,000 after buying an additional 1,022,233 shares during the last quarter. Finally, LPL Financial LLC raised its position in shares of Stryker Corp. by 1.5% in the third quarter. LPL Financial LLC now owns 35,228 shares of the medical technology company’s stock worth $4,096,000 after buying an additional 509 shares during the last quarter. Hedge funds and other institutional investors own 74.90% of the company’s stock.
SYK has been the subject of several recent analyst reports. Zacks Investment Research raised Stryker Corp. from a “sell” rating to a “hold” rating and set a $129.00 target price for the company in a research report on Monday, October 31st. BMO Capital Markets raised Stryker Corp. from an “underperform” rating to a “market perform” rating and set a $125.00 target price for the company in a research report on Tuesday, November 1st. They noted that the move was a valuation call. SunTrust Banks Inc. initiated coverage on Stryker Corp. in a research report on Thursday, October 13th. They issued a “buy” rating and a $140.00 target price for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of Stryker Corp. in a research report on Sunday, November 13th. Finally, Canaccord Genuity set a $127.00 target price on Stryker Corp. and gave the stock a “buy” rating in a research report on Sunday, October 30th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $122.38.
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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