Stryker Co. (NYSE:SYK) CFO Sells $6,660,000.00 in Stock

Stryker Co. (NYSE:SYK) CFO Glenn S. Boehnlein sold 20,000 shares of the stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $333.00, for a total value of $6,660,000.00. Following the completion of the transaction, the chief financial officer now owns 2,852 shares of the company’s stock, valued at approximately $949,716. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Stryker Trading Down 0.5 %

Shares of SYK traded down $1.61 during mid-day trading on Friday, hitting $331.56. The company had a trading volume of 1,738,618 shares, compared to its average volume of 1,322,149. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $361.41. The company has a quick ratio of 0.99, a current ratio of 1.71 and a debt-to-equity ratio of 0.56. The business’s 50-day simple moving average is $338.95 and its 200-day simple moving average is $339.48. The stock has a market cap of $126.31 billion, a PE ratio of 37.71, a P/E/G ratio of 2.57 and a beta of 0.89.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. The company had revenue of $5.42 billion for the quarter, compared to analyst estimates of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 23.26%. Stryker’s revenue for the quarter was up 8.5% on a year-over-year basis. During the same quarter last year, the business earned $2.54 EPS. Sell-side analysts forecast that Stryker Co. will post 11.98 earnings per share for the current year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th were paid a $0.80 dividend. This represents a $3.20 annualized dividend and a dividend yield of 0.97%. The ex-dividend date was Friday, June 28th. Stryker’s dividend payout ratio is currently 36.53%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. BTIG Research cut their price target on shares of Stryker from $372.00 to $360.00 and set a “buy” rating for the company in a report on Wednesday. Evercore ISI lowered their price target on Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a report on Tuesday, July 2nd. Truist Financial decreased their target price on Stryker from $364.00 to $345.00 and set a “hold” rating on the stock in a research report on Thursday. Robert W. Baird boosted their price objective on shares of Stryker from $367.00 to $378.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 1st. Finally, The Goldman Sachs Group assumed coverage on shares of Stryker in a report on Thursday, May 30th. They issued a “neutral” rating and a $372.00 price target on the stock. Four analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Stryker presently has an average rating of “Moderate Buy” and an average target price of $373.11.

Institutional Trading of Stryker

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Burkett Financial Services LLC acquired a new position in shares of Stryker during the fourth quarter worth about $25,000. Farmers & Merchants Trust Co of Chambersburg PA lifted its position in Stryker by 203.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 91 shares of the medical technology company’s stock worth $27,000 after acquiring an additional 61 shares in the last quarter. Rogco LP acquired a new position in Stryker during the 4th quarter worth approximately $30,000. Central Pacific Bank Trust Division purchased a new position in Stryker in the 1st quarter worth approximately $39,000. Finally, DSM Capital Partners LLC acquired a new stake in Stryker in the fourth quarter valued at approximately $34,000. Institutional investors and hedge funds own 77.09% of the company’s stock.

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.