Stryker Corp. (NYSE:SYK) Director Ronda E. Stryker sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, October 5th. The stock was sold at an average price of $116.34, for a total value of $1,396,080.00. Following the completion of the sale, the director now directly owns 193,142 shares in the company, valued at $22,470,140.28. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.
Shares of Stryker Corp. (NYSE:SYK) opened at 116.31 on Monday. The firm has a market cap of $43.54 billion, a price-to-earnings ratio of 27.42 and a beta of 0.72. Stryker Corp. has a one year low of $86.68 and a one year high of $123.55. The stock has a 50 day moving average price of $115.07 and a 200 day moving average price of $113.84.
Stryker Corp. (NYSE:SYK) last posted its quarterly earnings results on Thursday, July 21st. The medical technology company reported $1.39 EPS for the quarter, beating the consensus estimate of $1.37 by $0.02. The firm earned $2.84 billion during the quarter, compared to analysts’ expectations of $2.79 billion. Stryker Corp. had a return on equity of 23.61% and a net margin of 15.33%. On average, equities research analysts forecast that Stryker Corp. will post $5.76 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be issued a $0.38 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.31%. Stryker Corp.’s payout ratio is presently 35.85%.
Several institutional investors have recently modified their holdings of SYK. LSV Asset Management bought a new position in shares of Stryker Corp. during the second quarter worth about $107,000. Global X Management Co. LLC boosted its position 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 worth $119,000 after buying an additional 698 shares during the last quarter. Carroll Financial Associates Inc. boosted its position 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 worth $130,000 after buying an additional 476 shares during the last quarter. CWM LLC bought a new position in shares of Stryker Corp. during the second quarter worth about $150,000. Finally, Hefty Wealth Partners bought a new position in shares of Stryker Corp. during the third quarter worth about $193,000. 75.49% of the stock is owned by institutional investors and hedge funds.
SYK has been the topic of a number of research analyst reports. Zacks Investment Research raised Stryker Corp. from a “hold” rating to a “buy” rating and set a $130.00 price target on the stock in a research note on Tuesday, June 21st. Credit Suisse Group AG reaffirmed an “outperform” rating and issued a $124.00 price objective (up from $110.00) on shares of Stryker Corp. in a research note on Tuesday, July 19th. Piper Jaffray Cos. lifted their price objective on Stryker Corp. from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, July 22nd. JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $119.00 price objective on shares of Stryker Corp. in a research note on Friday, July 22nd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Stryker Corp. in a research note on Sunday, July 24th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the company. The company presently 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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