Stryker Corporation (NYSE:SYK) Director Sells $75,290,000.00 in Stock

Key Points

• Ronda E. Stryker, a director at Stryker Corporation, sold 200,000 shares of the company at an average price of $376.45, totaling approximately $75.29 million, reducing her holding by 5.84%.
• Stryker Corporation recently reported $3.13 EPS for the quarter, exceeding analysts' expectations, with a revenue of $6.02 billion, reflecting an 11.1% year-over-year increase.
• The company declared a quarterly dividend of $0.84 per share, scheduled for payment on October 31st, representing an annual yield of 0.9%.

Stryker Corporation (NYSE:SYK - Get Free Report) Director Ronda E. Stryker sold 200,000 shares of Stryker stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $376.45, for a total value of $75,290,000.00. Following the sale, the director owned 3,222,108 shares in the company, valued at $1,212,962,556.60. This trade represents a 5.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this link.

Stryker Trading Down 0.3%

SYK traded down $1.14 on Monday, hitting $376.45. The company had a trading volume of 76,761 shares, compared to its average volume of 1,436,172. Stryker Corporation has a 12-month low of $323.73 and a 12-month high of $406.19. The business's fifty day simple moving average is $387.17 and its 200 day simple moving average is $379.98. The company has a market cap of $143.92 billion, a PE ratio of 49.91, a PEG ratio of 2.74 and a beta of 0.91. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70.

Stryker (NYSE:SYK - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The medical technology company reported $3.13 earnings per share for the quarter, beating the consensus estimate of $3.07 by $0.06. The firm had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $5.92 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. The company's revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.81 earnings per share. Equities research analysts expect that Stryker Corporation will post 13.47 EPS for the current year.

Stryker Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Tuesday, September 30th will be issued a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, September 30th. Stryker's dividend payout ratio is presently 44.50%.

Institutional Investors Weigh In On Stryker

Hedge funds have recently added to or reduced their stakes in the business. Mid American Wealth Advisory Group Inc. acquired a new stake in Stryker in the 2nd quarter valued at about $26,000. Capital A Wealth Management LLC purchased a new position in Stryker in the 4th quarter valued at approximately $26,000. Sachetta LLC lifted its position in shares of Stryker by 58.7% during the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company's stock worth $29,000 after purchasing an additional 27 shares during the last quarter. Goodman Advisory Group LLC purchased a new stake in shares of Stryker during the 1st quarter worth $32,000. Finally, City Holding Co. lifted its position in shares of Stryker by 528.6% during the 1st quarter. City Holding Co. now owns 88 shares of the medical technology company's stock worth $33,000 after purchasing an additional 74 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company upped their price objective on Stryker from $435.00 to $445.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Evercore ISI upped their price objective on Stryker from $390.00 to $415.00 and gave the stock an "outperform" rating in a report on Tuesday, July 8th. Needham & Company LLC upped their price objective on Stryker from $442.00 to $448.00 and gave the stock a "buy" rating in a report on Friday, August 1st. Sanford C. Bernstein set a $450.00 price objective on Stryker in a report on Monday, May 5th. Finally, Roth Mkm upped their price objective on Stryker from $405.00 to $456.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $430.10.

About Stryker

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.