Stryker (NYSE:SYK) Director Sells $97,566,397.44 in Stock

Stryker Corporation (NYSE:SYK) Director Ronda Stryker sold 276,173 shares of the firm’s stock in a transaction dated Thursday, November 6th. The shares were sold at an average price of $353.28, for a total value of $97,566,397.44. Following the completion of the sale, the director directly owned 2,702,108 shares in the company, valued at approximately $954,600,714.24. This represents a 9.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Stryker Stock Performance

Shares of SYK stock traded up $1.93 during trading hours on Friday, reaching $355.74. 1,522,001 shares of the company’s stock were exchanged, compared to its average volume of 1,429,350. Stryker Corporation has a fifty-two week low of $329.16 and a fifty-two week high of $406.19. The company has a quick ratio of 1.06, a current ratio of 1.78 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $136.04 billion, a P/E ratio of 47.12, a P/E/G ratio of 2.66 and a beta of 0.94. The business has a fifty day moving average price of $375.35 and a 200-day moving average price of $380.88.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, October 30th. The medical technology company reported $3.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.13 by $0.06. The business had revenue of $6.06 billion for the quarter, compared to analyst estimates of $6.04 billion. Stryker had a net margin of 12.25% and a return on equity of 23.94%. Stryker’s revenue was up 10.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.87 earnings per share. Stryker has set its FY 2025 guidance at 13.500-13.600 EPS. Analysts predict that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Hedge Funds Weigh In On Stryker

Several hedge funds and other institutional investors have recently modified their holdings of SYK. Mid American Wealth Advisory Group Inc. bought a new position in Stryker in the 2nd quarter valued at $26,000. Clayton Financial Group LLC bought a new position in Stryker during the third quarter worth about $26,000. Elevation Point Wealth Partners LLC bought a new position in Stryker during the second quarter worth about $28,000. Sachetta LLC increased its stake in shares of Stryker by 58.7% in the 2nd quarter. Sachetta LLC now owns 73 shares of the medical technology company’s stock valued at $29,000 after acquiring an additional 27 shares during the last quarter. Finally, Kilter Group LLC bought a new stake in shares of Stryker in the 2nd quarter valued at about $29,000. Institutional investors own 77.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Wells Fargo & Company upped their price objective on shares of Stryker from $435.00 to $445.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Redburn Partners set a $420.00 price target on Stryker in a research note on Thursday, September 18th. Needham & Company LLC upped their price target on Stryker from $442.00 to $448.00 and gave the company a “buy” rating in a report on Friday, August 1st. Wall Street Zen raised Stryker from a “hold” rating to a “buy” rating in a report on Saturday, October 18th. Finally, Sanford C. Bernstein restated an “outperform” rating on shares of Stryker in a research report on Monday. Fourteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $433.37.

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.