Stryker Corp. (NYSE:SYK) declared a quarterly dividend on Thursday, July 28th. Shareholders of record on Friday, September 30th will be given a dividend of 0.38 per share by the medical technology company on Monday, October 31st. This represents a $1.52 annualized dividend and a yield of 1.28%. The ex-dividend date is Wednesday, September 28th.
In other news, Director Ronda E. Stryker sold 6,000 shares of the firm’s stock in a transaction on Tuesday, July 12th. The stock was sold at an average price of $122.75, for a total transaction of $736,500.00. Following the completion of the transaction, the director now directly owns 193,142 shares in the company, valued at $23,708,180.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Ronda E. Stryker sold 12,000 shares of the firm’s stock in a transaction on Monday, June 27th. The shares were sold at an average price of $116.09, for a total value of $1,393,080.00. Following the transaction, the director now owns 193,142 shares of the company’s stock, valued at $22,421,854.78. The disclosure for this sale can be found here. Insiders own 7.80% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. SevenBridge Financial Group LLC acquired a new stake in Stryker Corp. during the second quarter valued at approximately $197,000. Tiemann Investment Advisors LLC acquired a new stake in Stryker Corp. during the second quarter valued at approximately $204,000. Scotia Capital Inc. acquired a new stake in Stryker Corp. during the second quarter valued at approximately $236,000. Cedar Wealth Management LLC boosted its stake in Stryker Corp. by 32.3% in the second quarter. Cedar Wealth Management LLC now owns 2,223 shares of the medical technology company’s stock valued at $266,000 after buying an additional 543 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new stake in Stryker Corp. during the second quarter valued at approximately $308,000. Hedge funds and other institutional investors own 75.49% of the company’s stock.
Shares of Stryker Corp. (NYSE:SYK) opened at 118.44 on Friday. The company has a 50-day moving average price of $114.46 and a 200-day moving average price of $112.85. The company has a market capitalization of $44.33 billion, a PE ratio of 27.92 and a beta of 0.71. Stryker Corp. has a 52 week low of $86.68 and a 52 week high of $123.55.
Stryker Corp. (NYSE:SYK) last issued its quarterly earnings results on Thursday, July 21st. The medical technology company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.02. Stryker Corp. had a return on equity of 23.61% and a net margin of 15.33%. The firm earned $2.84 billion during the quarter, compared to the consensus estimate of $2.79 billion. Analysts predict that Stryker Corp. will post $5.76 earnings per share for the current year.
SYK has been the subject of several research analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Stryker Corp. in a research note on Sunday, July 24th. Guggenheim initiated coverage on shares of Stryker Corp. in a research note on Wednesday, June 8th. They issued a “buy” rating and a $134.00 price objective for the company. Piper Jaffray Cos. lifted their price objective on shares of Stryker Corp. from $120.00 to $135.00 and gave the company an “overweight” rating in a research note on Friday, July 22nd. Zacks Investment Research upgraded shares of Stryker Corp. from a “hold” rating to a “buy” rating and set a $130.00 price objective for the company in a research note on Tuesday, June 21st. Finally, Brean Capital reiterated a “buy” rating and issued a $125.00 price objective (up previously from $121.00) on shares of Stryker Corp. in a research note on Monday, July 25th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $114.91.
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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