Stryker Corp. (NYSE:SYK) Director Ronda E. Stryker sold 12,000 shares of the stock in a transaction that occurred on Thursday, October 13th. The shares were sold at an average price of $113.41, for a total value of $1,360,920.00. Following the sale, the director now directly owns 193,142 shares of the company’s stock, valued at $21,904,234.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Stryker Corp. (NYSE:SYK) opened at 113.65 on Monday. The stock has a market cap of $42.54 billion, a P/E ratio of 26.79 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 company’s 50-day moving average price is $115.22 and its 200-day moving average price is $114.11.
Stryker Corp. (NYSE:SYK) last issued its earnings results on Thursday, July 21st. The medical technology company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.02. The company earned $2.84 billion during the quarter, compared to the consensus estimate of $2.79 billion. Stryker Corp. had a net margin of 15.33% and a return on equity of 23.61%. Analysts forecast that Stryker Corp. will post $5.76 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a yield of 1.34%. The ex-dividend date is Wednesday, September 28th. Stryker Corp.’s dividend payout ratio is currently 35.85%.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC bought a new position in Stryker Corp. during the first quarter valued at approximately $272,490,000. Winslow Capital Management LLC bought a new position in Stryker Corp. during the second quarter valued at approximately $174,599,000. Capital Research Global Investors increased 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 valued at $3,952,087,000 after buying an additional 1,095,549 shares during the period. BlackRock Fund Advisors increased 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 valued at $752,594,000 after buying an additional 1,051,648 shares during the period. Finally, Emerald Acquisition Ltd. bought a new position in Stryker Corp. during the second quarter valued at approximately $104,111,000. 75.50% of the stock is owned by institutional investors.
SYK has been the subject of a number of recent research reports. Zacks Investment Research downgraded Stryker Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, September 27th. 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. Needham & Company LLC reissued a “hold” rating on shares of Stryker Corp. in a research report on Sunday, July 24th. 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, Credit Suisse Group AG reissued an “outperform” rating and issued a $124.00 target price (up from $110.00) on shares of Stryker Corp. in a research report on Tuesday, July 19th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $117.91.
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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