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

Stryker Co. (NYSE:SYK) insider Viju Menon sold 600 shares of the business’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 completion of the transaction, the insider now directly owns 9,069 shares of the company’s stock, valued at $3,219,495. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Stryker Stock Down 0.7 %

SYK stock opened at $356.15 on Thursday. The business’s 50 day simple moving average is $336.29 and its 200 day simple moving average is $341.21. Stryker Co. has a 1-year low of $249.98 and a 1-year high of $361.41. The firm has a market capitalization of $135.72 billion, a PE ratio of 40.66, a PEG ratio of 2.74 and a beta of 0.89. The company has a current ratio of 1.68, a quick ratio of 0.95 and a debt-to-equity ratio of 0.51.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, July 30th. The medical technology company reported $2.81 earnings per share for the quarter, beating the consensus estimate 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 22.89%. The company’s revenue was up 8.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.54 earnings per share. As a group, research analysts anticipate that Stryker Co. will post 12 EPS for the current year.

Stryker Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Monday, September 30th. Stryker’s dividend payout ratio is presently 36.53%.

Hedge Funds Weigh In On Stryker

Large investors have recently made changes to their positions in the company. Burkett Financial Services LLC acquired a new position in Stryker in the 4th quarter valued at $25,000. Rogco LP acquired a new position in shares of Stryker in the fourth quarter valued at about $30,000. Central Pacific Bank Trust Division bought a new position in Stryker during the first quarter worth about $39,000. DSM Capital Partners LLC acquired a new stake in Stryker in the 4th quarter worth about $34,000. Finally, Private Wealth Management Group LLC bought a new stake in Stryker in the 4th quarter valued at about $40,000. Institutional investors own 77.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on SYK. StockNews.com raised shares of Stryker from a “hold” rating to a “buy” rating in a research report on Thursday, July 11th. Roth Mkm upped their price target on Stryker from $348.00 to $405.00 and gave the stock a “buy” rating in a research report on Wednesday, May 1st. Needham & Company LLC lifted their price objective on shares of Stryker from $392.00 to $393.00 and gave the company a “buy” rating in a report on Thursday, August 1st. 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, Truist Financial decreased their target price on shares of Stryker from $364.00 to $345.00 and set a “hold” rating for the company in a research report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $373.84.

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.