Stryker Co. (NYSE:SYK) Insider Sells $213,000.00 in Stock

Stryker Co. (NYSE:SYK) insider Viju Menon sold 600 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total value of $213,000.00. Following the sale, the insider now directly owns 9,069 shares in the company, valued at $3,219,495. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Stryker Stock Performance

NYSE SYK opened at $357.93 on Friday. The company has a market cap of $136.35 billion, a P/E ratio of 40.86, a P/E/G ratio of 2.74 and a beta of 0.89. The business’s 50 day moving average price is $336.44 and its 200-day moving average price is $341.31. Stryker Co. has a fifty-two week low of $249.98 and a fifty-two week high of $361.41. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.95 and a current ratio of 1.68.

Stryker (NYSE:SYK) last posted its quarterly earnings data 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 business had revenue of $5.42 billion for the quarter, compared to analysts’ expectations of $5.40 billion. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The business’s revenue was up 8.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.54 earnings per share. Sell-side analysts predict that Stryker Co. will post 12 earnings per share for the current year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 0.89%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s payout ratio is currently 36.53%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on SYK shares. Evercore ISI decreased their target price on Stryker from $370.00 to $365.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 2nd. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a report on Thursday, July 11th. BTIG Research lifted their price target on shares of Stryker from $360.00 to $374.00 and gave the company a “buy” rating in a report on Wednesday. Stifel Nicolaus dropped their price objective on shares of Stryker from $375.00 to $365.00 and set a “buy” rating for the company in a report on Wednesday, July 31st. Finally, UBS Group boosted their target price on Stryker from $351.00 to $366.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. 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 data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $373.84.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SYK. Harbor Investment Advisory LLC increased its stake in shares of Stryker by 0.4% in the 1st quarter. Harbor Investment Advisory LLC now owns 6,982 shares of the medical technology company’s stock valued at $2,499,000 after purchasing an additional 31 shares in the last quarter. Aspen Investment Management Inc raised its stake in shares of Stryker by 0.7% during the 1st quarter. Aspen Investment Management Inc now owns 4,368 shares of the medical technology company’s stock worth $1,563,000 after buying an additional 31 shares during the period. Proficio Capital Partners LLC lifted its position in shares of Stryker by 2.4% during the 1st quarter. Proficio Capital Partners LLC now owns 1,418 shares of the medical technology company’s stock valued at $507,000 after buying an additional 33 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of Stryker by 4.0% during the 2nd quarter. Versant Capital Management Inc now owns 864 shares of the medical technology company’s stock valued at $294,000 after buying an additional 33 shares in the last quarter. Finally, Stanley Laman Group Ltd. increased its holdings in Stryker by 4.6% in the 2nd quarter. Stanley Laman Group Ltd. now owns 752 shares of the medical technology company’s stock worth $256,000 after acquiring an additional 33 shares in the last quarter. Institutional investors own 77.09% of the company’s stock.

Stryker Company Profile

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.