Stryker Co. (NYSE:SYK) Insider Viju Menon Sells 600 Shares

Stryker Co. (NYSE:SYK) insider Viju Menon sold 600 shares of the company’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $355.00, for a total transaction of $213,000.00. Following the completion of the transaction, the insider now owns 9,069 shares of the company’s stock, valued at approximately $3,219,495. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Stryker Price Performance

Stryker stock traded up $4.21 during mid-day trading on Tuesday, reaching $358.51. The company had a trading volume of 1,131,373 shares, compared to its average volume of 1,303,294. Stryker Co. has a 1 year low of $249.98 and a 1 year high of $361.41. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.68 and a quick ratio of 0.95. The company has a market capitalization of $136.57 billion, a P/E ratio of 40.93, a P/E/G ratio of 2.71 and a beta of 0.89. The stock’s 50-day simple moving average is $336.10 and its 200-day simple moving average is $341.09.

Stryker (NYSE:SYK) last issued its earnings results on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.02. Stryker had a net margin of 16.12% and a return on equity of 22.89%. The company had revenue of $5.42 billion during the quarter, compared to analysts’ expectations of $5.40 billion. During the same period last year, the company posted $2.54 earnings per share. The firm’s quarterly revenue was up 8.5% compared to the same quarter last year. On average, equities analysts predict that Stryker Co. will post 12 EPS for the current year.

Stryker Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $3.20 dividend on an annualized basis and a yield of 0.89%. Stryker’s dividend payout ratio (DPR) is presently 36.53%.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Truist Financial decreased 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. Barclays increased their target price on shares of Stryker from $374.00 to $402.00 and gave the stock an “overweight” rating in a research note on Thursday, August 1st. Evercore ISI decreased their target price on shares of Stryker from $370.00 to $365.00 and set an “outperform” rating for the company in a research note on Tuesday, July 2nd. StockNews.com upgraded shares of Stryker from a “hold” rating to a “buy” rating in a research note on Thursday, July 11th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $386.00 target price on shares of Stryker in a research note 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.com, Stryker currently has a consensus rating of “Moderate Buy” and an average price target of $373.11.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Norges Bank purchased a new position in shares of Stryker during the 4th quarter worth approximately $1,260,562,000. Global Assets Advisory LLC purchased a new position in shares of Stryker during the 1st quarter worth approximately $341,049,000. JPMorgan Chase & Co. increased its stake in shares of Stryker by 10.4% during the 1st quarter. JPMorgan Chase & Co. now owns 8,651,403 shares of the medical technology company’s stock worth $3,096,078,000 after purchasing an additional 813,311 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Stryker by 5.4% during the 4th 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 purchasing an additional 642,178 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its stake in shares of Stryker by 146.9% during the 1st quarter. 1832 Asset Management L.P. now owns 878,669 shares of the medical technology company’s stock worth $314,449,000 after purchasing an additional 522,817 shares in the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

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.