Ronda E. Stryker sells 190,000 shares of Stryker Co. (NYSE:SYK)

Stryker Co. (NYSE:SYK – Get Your Free Report ) Director Ronda E. Stryker sold 190,000 shares of Stryker stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $323.46, for a total transaction of $61,457,400.00. Following the transaction, the director now directly owns 3,316,608 shares of the company’s stock, valued at $1,072,790,023.68. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website.

Stryker stock down 0.6%

Shares of SYK stock opened at $327.83 on Friday. The stock has a market cap of $124.93 billion, a P/E ratio of 37.42, a P/E/G ratio of 2.49 and a beta of 0.89. Stryker Co. it has a fifty-two week low of $249.98 and a fifty-two week high of $361.41. The company has a 50-day moving average of $337.16 and a 200-day moving average of $339.89. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68, and a quick ratio of 0.95.

Stryker (NYSE:SYK – Get Your Free Report ) last issued its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.02. Stryker had a return on equity of 22.89% and a net margin of 16.12%. The company had revenue of $5.42 billion during the quarter, compared to the consensus estimate of $5.40 billion. In the same quarter last year, the company posted earnings of $2.54 per share. The company’s revenue was up 8.5% over the same quarter last year. On average, sell-side analysts anticipate that Stryker Co. will post 11.99 earnings per share for the current fiscal year.

Stryker announces dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be issued a dividend of $0.80 per share. This represents an annualized dividend of $3.20 and a yield of 0.98%. The ex-dividend date of this dividend is Monday, September 30. Stryker’s dividend payout ratio is currently 36.53%.

Institutional inputs and outputs

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new stake in Stryker in the 4th quarter valued at about $1,260,562,000. Global Assets Advisory LLC acquired a new stake in shares of Stryker in the first quarter worth $341,049,000. JPMorgan Chase & Co. boosted its stake in Stryker by 10.4% in the first quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock worth $3,096,078,000 after buying an additional 813,311 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in Stryker by 5.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,541,845 shares of the medical technology company’s stock worth $3,755,782,000 after buying an additional 642,178 shares during the last quarter. Finally, 1832 Asset Management LP boosted its holdings in Stryker by 146.9% in the first quarter. 1832 Asset Management LP now owns 878,669 shares of the medical technology company’s stock worth $314,449,000 after buying an additional 522,817 shares during the period. Hedge funds and other institutional investors own 77.09% of the company’s shares.

Analysts set new price targets

A number of research firms have commented on SYK. Morgan Stanley boosted their price objective on shares of Stryker from $345.00 to $350.00 and gave the company an “equal weight” rating in a report on Monday, July 15th. Piper Sandler upped their price target on Stryker from $375.00 to $380.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Truist Financial dropped their price objective on shares of Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a research note on Thursday, August 1st. Wells Fargo & Company raised their target price on shares of Stryker from $364.00 to $381.00 and gave the company an “overweight” rating in a research report on Wednesday, May 1st. Finally, Barclays boosted their price objective on shares of Stryker from $374.00 to $402.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, Stryker currently has an average rating of “Moderate Buy” and an average price target of $373.11.

Read the latest stock report on SYK

About Stryker

(Get a free report)

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopedics and Spine. The Orthopedics and Spine segment provides implants for use in total joint replacement, such as hip, knee and shoulder surgery, as well as trauma and extremity surgery.

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