Stryker Corp. (NYSE:SYK) Director Ronda E. Stryker sold 6,000 shares of the company’s stock in a transaction on Wednesday, September 14th. The stock was sold at an average price of $110.81, for a total value of $664,860.00. Following the sale, the director now directly owns 193,142 shares in the company, valued at approximately $21,402,065.02. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Stryker Corp. (NYSE:SYK) opened at 114.32 on Monday. Stryker Corp. has a one year low of $86.68 and a one year high of $123.55. The stock has a market capitalization of $42.79 billion, a PE ratio of 26.95 and a beta of 0.71. The firm has a 50-day moving average of $114.67 and a 200-day moving average of $112.36.
Stryker Corp. (NYSE:SYK) last announced its quarterly earnings data on Thursday, July 21st. The medical technology company reported $1.39 EPS for the quarter, beating the Zacks’ 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 firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.79 billion. On average, equities research analysts forecast that Stryker Corp. will post $5.76 earnings per share for the current year.
The business also recently disclosed 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 yield of 1.33%. The ex-dividend date of this dividend is Wednesday, September 28th. Stryker Corp.’s payout ratio is presently 35.85%.
A number of research firms have recently weighed in on SYK. Brean Capital reaffirmed a “buy” rating and set a $125.00 price objective (up previously from $121.00) on shares of Stryker Corp. in a research report on Monday, July 25th. Jefferies Group reiterated a “hold” rating and set a $120.00 target price (up previously from $113.00) on shares of Stryker Corp. in a research note on Monday, July 25th. Canaccord Genuity reiterated a “buy” rating and set a $130.00 target price on shares of Stryker Corp. in a research note on Sunday, July 24th. Needham & Company LLC reiterated a “hold” rating on shares of Stryker Corp. in a research note on Sunday, July 24th. Finally, JPMorgan Chase & Co. reiterated a “hold” rating and set a $119.00 target price on shares of Stryker Corp. in a research note on Friday, July 22nd. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the stock. Stryker Corp. currently has an average rating of “Hold” and an average target price of $114.91.
A number of hedge funds and other institutional investors have recently made changes to their positions in SYK. Macquarie Group Ltd. increased its stake in Stryker Corp. by 2.3% in the second quarter. Macquarie Group Ltd. now owns 112,750 shares of the medical technology company’s stock valued at $13,511,000 after buying an additional 2,500 shares in the last quarter. Williams Jones & Associates LLC acquired a new stake in Stryker Corp. during the second quarter valued at approximately $8,591,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Stryker Corp. during the second quarter valued at approximately $1,520,000. Kentucky Retirement Systems acquired a new stake in Stryker Corp. during the second quarter valued at approximately $3,201,000. Finally, Mason Street Advisors LLC acquired a new stake in Stryker Corp. during the second quarter valued at approximately $5,070,000. 75.48% 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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