Stryker Corp. (NYSE:SYK) Director Ronda E. Stryker sold 6,000 shares of the stock in a transaction that occurred on Thursday, October 20th. The shares were sold at an average price of $114.25, for a total value of $685,500.00. Following the transaction, the director now owns 193,142 shares of the company’s stock, valued at $22,066,473.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Stryker Corp. (NYSE:SYK) opened at 113.71 on Monday. The stock has a market cap of $42.56 billion, a price-to-earnings ratio of 26.81 and a beta of 0.72. The stock’s 50 day moving average price is $115.04 and its 200 day moving average price is $114.33. 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 (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.02. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.79 billion. Stryker Corp. had a return on equity of 23.61% and a net margin of 15.33%. On average, analysts forecast that Stryker Corp. will post $5.76 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Stockholders of record on Friday, September 30th will be paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date of this dividend is Wednesday, September 28th. Stryker Corp.’s dividend payout ratio is presently 35.85%.
A number of research analysts have recently commented on the company. Canaccord Genuity reiterated a “buy” rating and set a $130.00 target price on shares of Stryker Corp. in a research report on Sunday, July 24th. SunTrust Banks Inc. assumed coverage on Stryker Corp. in a research report on Thursday, October 13th. They set a “buy” rating and a $140.00 target price for the company. JPMorgan Chase & Co. reiterated a “hold” rating and set a $119.00 target price on shares of Stryker Corp. in a research report on Friday, July 22nd. Piper Jaffray Cos. increased their target price on Stryker Corp. from $120.00 to $135.00 and gave the company an “overweight” rating in a research report on Friday, July 22nd. Finally, Credit Suisse Group AG reiterated an “outperform” rating and set a $124.00 target price (up from $110.00) on shares of Stryker Corp. in a research report on Tuesday, July 19th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $117.91.
Hedge funds have recently modified their holdings of the company. LSV Asset Management bought a new position in Stryker Corp. during the second quarter worth $107,000. Global X Management Co. LLC raised 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 period. Carroll Financial Associates Inc. raised its position in 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 period. CWM LLC bought a new position in Stryker Corp. during the second quarter worth $150,000. Finally, Daiwa SB Investments Ltd. bought a new position in Stryker Corp. during the third quarter worth $163,000. 75.50% of the stock is currently owned by hedge funds and other institutional investors.
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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