Ronda E. Stryker , a director and significant shareholder of Stryker Corp. (NYSE:SYK), has recently sold a substantial amount of company stock. According to a recent SEC filing, Stryker disposed of a total of 228,000 shares of Stryker Corp. common stock on November 5, 2024, in several transactions. The shares were sold at prices ranging from $363.65 to $370.07, amounting to a total transaction value of approximately $84.5 million.
Following these sales, Stryker retains ownership of over 3 million shares through a revocable trust, maintaining a significant stake in the medical technology company. The transactions were executed in multiple trades, with each sale's price reflecting the weighted average of the shares sold within specified ranges.
These transactions are part of Stryker's ongoing management of her investment portfolio, and she continues to hold a substantial amount of Stryker Corp. stock through various trusts.
In other recent news, Stryker Corporation (NYSE:SYK) reported a solid third quarter, with an 11.5% increase in organic sales growth and adjusted earnings per share (EPS) of $2.87, marking a 16.7% year-over-year growth. The company also raised its 2024 outlook, expecting organic sales growth of 9.5% to 10% and an adjusted EPS of $12 to $12.10. This follows a record number of Mako installations and the completion of strategic acquisitions such as Care.ai and NICO Corporation, which aim to enhance healthcare IT and minimally invasive surgery offerings. Stryker also anticipates a full-year adjusted effective tax rate at the high end of 14% to 15%. Despite strong demand for Mako installations, revenue growth was flat this quarter due to a shift in rental agreements impacting immediate revenue recognition. These are recent developments in the company's growth strategy, which also includes a focus on fast-growing markets and ensuring acquisitions are accretive to operating margins and EPS.
InvestingPro Insights
To provide additional context to Ronda E. Stryker's recent stock sale, it's worth examining some key financial metrics and insights from InvestingPro. Stryker Corp. (NYSE:SYK) currently boasts a market capitalization of approximately $141 billion, reflecting its significant presence in the Healthcare Equipment & Supplies industry.
The company's stock has shown strong performance, with a 35.48% total return over the past year and a 15.72% return in the last three months. This robust performance aligns with the InvestingPro Tip indicating that Stryker is trading near its 52-week high, with the current price at 98.43% of that peak.
Stryker's financial health appears solid, with revenue growth of 10.51% over the last twelve months and an EBITDA growth of 14.29% during the same period. These figures suggest that the company continues to expand its operations effectively.
It's noteworthy that Stryker has maintained dividend payments for 34 consecutive years and has raised its dividend for 14 consecutive years, as highlighted by InvestingPro Tips. This demonstrates the company's commitment to returning value to shareholders, which may be of interest to investors considering the recent insider sale.
However, it's important to note that 24 analysts have revised their earnings downwards for the upcoming period, according to InvestingPro Tips. This could indicate some caution regarding near-term performance expectations.
For investors seeking a more comprehensive analysis, InvestingPro offers 15 additional tips for Stryker Corp., providing a deeper understanding of the company's financial position and market outlook.
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