Stryker Co. (NYSE:SYK) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 3,799,400 shares, a growth of 22.0% from the July 31st total of 3,115,300 shares. Based on an average daily volume of 1,030,000 shares, the short-interest ratio is presently 3.7 days. Approximately 1.1% of the company’s shares are short sold.
In other Stryker news, COO Timothy J. Scannell sold 4,666 shares of the business’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $217.08, for a total transaction of $1,012,895.28. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Allan C. Golston sold 3,399 shares of the business’s stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $209.84, for a total transaction of $713,246.16. Following the sale, the director now owns 13,762 shares in the company, valued at $2,887,818.08. The disclosure for this sale can be found here. Insiders have sold 20,447 shares of company stock worth $4,262,634 over the last quarter. Insiders own 7.20% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Farmers National Bank acquired a new stake in shares of Stryker in the first quarter valued at approximately $25,000. Massey Quick Simon & CO. LLC acquired a new stake in shares of Stryker in the second quarter valued at approximately $27,000. Cable Hill Partners LLC acquired a new stake in shares of Stryker in the first quarter valued at approximately $30,000. Ossiam acquired a new stake in shares of Stryker in the second quarter valued at approximately $33,000. Finally, Stonebridge Capital Advisors LLC acquired a new stake in shares of Stryker in the second quarter valued at approximately $39,000. Institutional investors own 73.01% of the company’s stock.
A number of analysts have issued reports on the stock. Cantor Fitzgerald boosted their price target on shares of Stryker from $190.00 to $230.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. BMO Capital Markets set a $216.00 price target on shares of Stryker and gave the stock a “hold” rating in a research note on Friday, July 26th. Barclays set a $226.00 price target on shares of Stryker and gave the stock a “buy” rating in a research note on Friday, July 26th. Svb Leerink restated an “outperform” rating on shares of Stryker in a research note on Wednesday, July 10th. Finally, Zacks Investment Research upgraded shares of Stryker from a “hold” rating to a “buy” rating and set a $225.00 target price on the stock in a research note on Monday, July 29th. Five investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $214.89.
Stryker stock traded down $1.86 during mid-day trading on Friday, hitting $218.18. The company had a trading volume of 721,830 shares, compared to its average volume of 1,205,163. The stock has a market cap of $82.34 billion, a price-to-earnings ratio of 29.85, a PEG ratio of 2.59 and a beta of 0.83. Stryker has a 1 year low of $144.75 and a 1 year high of $223.45. The company has a quick ratio of 1.26, a current ratio of 2.07 and a debt-to-equity ratio of 0.67. The business has a fifty day moving average of $216.54 and a 200 day moving average of $199.54.
Stryker (NYSE:SYK) last announced its quarterly earnings results on Thursday, July 25th. The medical technology company reported $1.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.93 by $0.05. The company had revenue of $3.65 billion for 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 firm’s revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the firm posted $1.76 earnings per share. Equities analysts anticipate that Stryker will post 8.21 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Shareholders of record on Monday, September 30th will be paid a $0.52 dividend. The ex-dividend date is Friday, September 27th. This represents a $2.08 annualized dividend and a yield of 0.95%. Stryker’s dividend payout ratio is currently 28.45%.
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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