Stryker Corp. (SYK) Sees Unusually-High Trading Volume
Stryker Corp. (NYSE:SYK) saw strong trading volume on Friday . 2,471,095 shares changed hands during trading, an increase of 104% from the previous session’s volume of 1,213,581 shares.The stock last traded at $110.54 and had previously closed at $114.87.
A number of equities research analysts have recently weighed in on the company. Piper Jaffray Cos. boosted their price target on Stryker Corp. from $120.00 to $135.00 and gave the stock an “overweight” rating in a research note on Friday, July 22nd. Credit Suisse Group AG restated an “outperform” rating and set a $124.00 price target (up previously from $110.00) on shares of Stryker Corp. in a research note on Tuesday, July 19th. JPMorgan Chase & Co. restated a “hold” rating and set a $119.00 price target on shares of Stryker Corp. in a research note on Friday, July 22nd. Brean Capital restated a “buy” rating and set a $125.00 price target (up previously from $121.00) on shares of Stryker Corp. in a research note on Monday, July 25th. Finally, Jefferies Group restated a “hold” rating and set a $120.00 price target (up previously from $113.00) on shares of Stryker Corp. in a research note on Monday, July 25th. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. Stryker Corp. currently has a consensus rating of “Hold” and a consensus price target of $114.91.
The company’s 50-day moving average is $114.95 and its 200-day moving average is $112.03. The stock has a market capitalization of $41.38 billion, a PE ratio of 26.06 and a beta of 0.71.
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Stryker Corp. (NYSE:SYK) last announced its earnings results on Thursday, July 21st. The medical technology company reported $1.39 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.02. Stryker Corp. had a return on equity of 23.61% and a net margin of 15.33%. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $2.79 billion. On average, analysts predict that Stryker Corp. will post $5.76 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Shareholders of record on Friday, September 30th will be paid a $0.38 dividend. The ex-dividend date of this dividend is Wednesday, September 28th. This represents a $1.52 annualized dividend and a dividend yield of 1.38%. Stryker Corp.’s dividend payout ratio (DPR) is currently 35.85%.
In other Stryker Corp. news, Director Ronda E. Stryker sold 6,000 shares of Stryker Corp. stock in a transaction that occurred on Tuesday, July 12th. The stock was sold at an average price of $122.75, for a total value of $736,500.00. Following the transaction, the director now directly owns 193,142 shares in the company, valued at approximately $23,708,180.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ronda E. Stryker sold 12,000 shares of Stryker Corp. stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $113.07, for a total value of $1,356,840.00. Following the completion of the transaction, the director now owns 193,142 shares in the company, valued at $21,838,565.94. The disclosure for this sale can be found here. 7.80% of the stock is owned by company insiders.
Stryker Corp. Company Profile
Stryker Corporation (Stryker) is a medical technology company. The Company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Company’s Orthopaedics segment products consist of implants used in hip and knee joint replacements and trauma and surgeries. The Company’s MedSurg segment products consist of surgical equipment and surgical navigation systems (Instruments); endoscopic and communications systems (Endoscopy); patient handling and emergency medical equipment (Medical), and reprocessed and remanufactured medical devices (Sustainability), as well as other medical device products used in a range of medical specialties.
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