Stryker Corp. (NYSE:SYK) Director Ronda E. Stryker sold 12,000 shares of the company’s stock in a transaction on Wednesday, December 21st. The stock was sold at an average price of $119.47, for a total value of $1,433,640.00. Following the transaction, the director now owns 193,142 shares of the company’s stock, valued at $23,074,674.74. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Shares of Stryker Corp. (NYSE:SYK) traded up 0.67% on Thursday, hitting $120.20. The stock had a trading volume of 636,694 shares. Stryker Corp. has a one year low of $86.68 and a one year high of $123.55. The firm’s 50 day moving average is $114.36 and its 200-day moving average is $115.54. The stock has a market capitalization of $45.01 billion, a PE ratio of 27.36 and a beta of 0.84.
Stryker Corp. (NYSE:SYK) last announced its quarterly earnings data on Thursday, October 27th. The medical technology company reported $1.39 EPS for the quarter, topping 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 business earned $2.83 billion during the quarter, compared to analysts’ expectations of $2.81 billion. During the same period in the previous year, the firm earned $1.25 earnings per share. The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. Equities research analysts expect that Stryker Corp. will post $5.78 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 31st. Shareholders of record on Friday, December 30th will be paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 1.42%. This is a boost from Stryker Corp.’s previous quarterly dividend of $0.38. The ex-dividend date is Wednesday, December 28th. Stryker Corp.’s payout ratio is presently 34.62%.
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A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. LSV Asset Management acquired a new position in Stryker Corp. during the second quarter worth about $107,000. Mycio Wealth Partners LLC acquired a new position in Stryker Corp. during the third quarter worth about $116,000. Salem Investment Counselors Inc. acquired a new position in Stryker Corp. during the third quarter worth about $116,000. Global X Management Co. LLC boosted its position in 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. Finally, TLP Group LLC acquired a new position in Stryker Corp. during the third quarter worth about $127,000. 74.88% of the stock is owned by hedge funds and other institutional investors.
Several research analysts have recently issued reports on the company. Zacks Investment Research cut Stryker Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, December 6th. Needham & Company LLC reissued a “hold” rating on shares of Stryker Corp. in a research note on Sunday, November 13th. BMO Capital Markets raised Stryker Corp. from an “underperform” rating to a “market perform” rating and set a $125.00 price target for the company in a research note on Tuesday, November 1st. They noted that the move was a valuation call. Canaccord Genuity set a $127.00 price target on Stryker Corp. and gave the stock a “buy” rating in a research note on Sunday, October 30th. Finally, Oppenheimer Holdings Inc. set a $122.00 price target on Stryker Corp. and gave the stock a “hold” rating in a research note on Sunday, October 30th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $122.67.
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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