KALAMAZOO, MI – In a recent transaction on May 15, Glenn S. Boehnlein, the Vice President and Chief Financial Officer of Stryker Corporation (NYSE:SYK), sold 10,000 shares of the company’s common stock. The sale amounted to a total of $3.28 million, with the shares sold at a weighted average price of $327.65.
Investors tracking executive transactions will note that the shares were sold in multiple transactions at prices that ranged from $327.55 to $328.315. Boehnlein's sale represents a significant move by a key executive of the medical technology company, which specializes in surgical and medical instruments and apparatus.
Following the sale, Boehnlein still retains 15,012 shares of Stryker Corporation directly. Additionally, he holds an indirect interest in 1,544 shares through his 401K, demonstrating continued investment in the company's future.
Stryker Corporation, headquartered in Kalamazoo, Michigan, is known for its innovative products and services in orthopaedics, medical and surgical, and neurotechnology and spine that help improve patient and hospital outcomes.
This latest transaction was publicly filed with the Securities and Exchange Commission and is available for investors to review. The company and Boehnlein have not made any additional comments regarding this recent stock sale.
InvestingPro Insights
In light of the recent stock sale by Stryker Corporation's (NYSE:SYK) Vice President and Chief Financial Officer Glenn S. Boehnlein, investors may be interested in some key financial metrics and expert insights from InvestingPro. Stryker's market capitalization stands robust at $127.28 billion, reflecting the company's significant presence in the medical technology industry. Despite the sale, Boehnlein's retained shares indicate a sustained belief in the company's performance and strategic direction.
With a P/E ratio of 37.81 and an adjusted P/E ratio for the last twelve months as of Q1 2024 at 35.41, Stryker trades at a high earnings multiple, which could suggest a premium valuation by the market based on its growth prospects. The company's Price / Book ratio for the same period is 6.65, further indicating a strong valuation relative to its book value.
InvestingPro Tips highlight that Stryker has raised its dividend for 14 consecutive years and has maintained dividend payments for 34 consecutive years, showcasing a commitment to returning value to shareholders. Moreover, the company is recognized as a prominent player in the Healthcare Equipment & Supplies industry, which may offer stability and growth potential within the sector.
For investors seeking more in-depth analysis and additional InvestingPro Tips, there are 14 more tips available that could provide further insights into Stryker's financial health and stock performance. To explore these valuable tips, visit https://www.investing.com/pro/SYK and remember to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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