Stryker Co. (NYSE:SYK) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 4,780,000 shares, an increase of 38.6% from the August 30th total of 3,450,000 shares. Approximately 1.4% of the company’s stock are sold short. Based on an average daily trading volume, of 1,060,000 shares, the short-interest ratio is currently 4.5 days.
In other Stryker news, VP M Kathryn Fink sold 28,690 shares of the company’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $220.97, for a total transaction of $6,339,629.30. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Glenn S. Boehnlein sold 2,700 shares of the company’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $214.16, for a total transaction of $578,232.00. Following the transaction, the chief financial officer now owns 20,633 shares in the company, valued at approximately $4,418,763.28. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 51,637 shares of company stock worth $11,240,206. Corporate insiders own 7.20% of the company’s stock.
A number of institutional investors and hedge funds have recently bought and sold shares of SYK. Massey Quick Simon & CO. LLC bought a new position in Stryker during the second quarter valued at about $27,000. Ossiam bought a new position in Stryker during the second quarter valued at about $33,000. Stonebridge Capital Advisors LLC bought a new position in Stryker during the second quarter valued at about $39,000. Webster Bank N. A. grew its position in Stryker by 300.0% during the second quarter. Webster Bank N. A. now owns 200 shares of the medical technology company’s stock valued at $41,000 after buying an additional 150 shares during the period. Finally, Westside Investment Management Inc. bought a new position in Stryker during the second quarter valued at about $47,000. Institutional investors own 73.04% of the company’s stock.
Shares of NYSE SYK traded down $1.15 during trading on Monday, hitting $212.66. The stock had a trading volume of 696,537 shares, compared to its average volume of 1,197,594. Stryker has a 12 month low of $144.75 and a 12 month high of $223.45. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.07 and a quick ratio of 1.26. The company has a market capitalization of $79.04 billion, a PE ratio of 29.09, a PEG ratio of 2.56 and a beta of 0.81. The firm has a fifty day moving average of $216.98 and a two-hundred day moving average of $203.00.
Stryker (NYSE:SYK) last posted its earnings results on Thursday, July 25th. The medical technology company reported $1.98 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.93 by $0.05. The firm had revenue of $3.65 billion during the quarter, compared to analyst estimates of $3.60 billion. Stryker had a net margin of 24.99% and a return on equity of 25.98%. The business’s revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.76 EPS. On average, equities analysts expect that Stryker will post 8.21 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Monday, September 30th will be given a dividend of $0.52 per share. The ex-dividend date is Friday, September 27th. This represents a $2.08 annualized dividend and a yield of 0.98%. Stryker’s payout ratio is currently 28.45%.
SYK has been the topic of several research reports. Svb Leerink restated an “outperform” rating on shares of Stryker in a report on Wednesday, July 10th. Cantor Fitzgerald upped their price objective on shares of Stryker from $190.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Zacks Investment Research upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $225.00 price objective on the stock in a report on Monday, July 29th. Credit Suisse Group upped their target price on shares of Stryker from $232.00 to $237.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Raymond James set a $240.00 target price on shares of Stryker and gave the stock a “buy” rating in a research note on Friday, July 26th. Six analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Stryker has a consensus rating of “Buy” and an average target price of $214.89.
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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