Stryker Corp. (NYSE:SYK) Director Ronda E. Stryker sold 18,000 shares of the business’s stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $117.56, for a total transaction of $2,116,080.00. Following the completion of the sale, the director now owns 193,142 shares in the company, valued at $22,705,773.52. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Stryker Corp. (NYSE:SYK) opened at 117.31 on Thursday. Stryker Corp. has a 1-year low of $86.68 and a 1-year high of $123.55. The company’s 50-day moving average is $114.72 and its 200 day moving average is $113.32. The firm has a market capitalization of $43.91 billion, a PE ratio of 27.65 and a beta of 0.71.
Stryker Corp. (NYSE:SYK) last released its earnings results on Thursday, July 21st. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating the Zacks’ 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 had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.79 billion. On average, equities analysts expect that Stryker Corp. will post $5.76 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be given a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.30%. The ex-dividend date is Wednesday, September 28th. Stryker Corp.’s dividend payout ratio is presently 35.85%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lazard Asset Management LLC acquired a new position in Stryker Corp. during the first quarter worth about $272,490,000. Winslow Capital Management LLC acquired a new position in Stryker Corp. during the second quarter worth about $174,599,000. Capital Research Global Investors boosted its position in Stryker Corp. by 3.4% in the second quarter. Capital Research Global Investors now owns 32,980,782 shares of the medical technology company’s stock worth $3,952,087,000 after buying an additional 1,095,549 shares in the last quarter. BlackRock Fund Advisors boosted its position in Stryker Corp. by 20.1% in the second quarter. BlackRock Fund Advisors now owns 6,280,516 shares of the medical technology company’s stock worth $752,594,000 after buying an additional 1,051,648 shares in the last quarter. Finally, Emerald Acquisition Ltd. acquired a new position in Stryker Corp. during the second quarter worth about $104,111,000. Hedge funds and other institutional investors own 75.49% of the company’s stock.
A number of analysts recently commented on the stock. Piper Jaffray Cos. boosted their target price on shares of Stryker Corp. from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, July 22nd. Credit Suisse Group AG reiterated an “outperform” rating and issued a $124.00 target price (up from $110.00) on shares of Stryker Corp. in a report on Tuesday, July 19th. Brean Capital reissued a “buy” rating and issued a $125.00 target price (up from $121.00) on shares of Stryker Corp. in a research report on Monday, July 25th. Jefferies Group reissued a “hold” rating and issued a $120.00 target price (up from $113.00) on shares of Stryker Corp. in a research report on Monday, July 25th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Stryker Corp. in a research report 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 given a buy rating to the stock. The company presently has a consensus 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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