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In a recent transaction, William E. Berry Jr., Vice President and Chief Accounting Officer of Stryker Corp (NYSE:SYK), a prominent $144 billion healthcare equipment company with a "GREAT" financial health rating according to InvestingPro, sold 755 shares of the company’s common stock. The shares were sold at a price of $279.96 each, totaling $211,369. Following this sale, Berry holds 1,853 shares directly. The transaction, dated February 2, 2023, was filed to correct the previously reported number of Restricted Stock Units held by Berry. Currently trading at $376.62, near its 52-week high, Stryker has demonstrated strong returns over the past decade and maintains a 35-year track record of consistent dividend payments. For deeper insights into insider trading patterns and comprehensive analysis, check out Stryker’s detailed Pro Research Report, available exclusively on InvestingPro.
In other recent news, Stryker Corporation announced FDA clearance for its OptaBlate basivertebral nerve ablation system, designed to alleviate chronic vertebrogenic low back pain. This minimally invasive option is part of Stryker’s efforts to expand its pain management solutions. Additionally, Stryker’s shareholders approved amendments to three incentive plans during the Annual Meeting of Shareholders, which aim to increase share availability and extend plan duration. The Board of Directors also declared a quarterly dividend of $0.84 per share, marking a 5% increase from the previous year.
In analyst updates, UBS raised Stryker’s stock price target to $421, citing strong sales and earnings performance, while maintaining a Neutral rating. Evercore ISI adjusted its price target for Stryker to $390, despite the company surpassing revenue and earnings estimates in the first quarter. Stryker’s organic revenue growth was 10.1%, with total revenues reaching approximately $5.9 billion. The company also updated its fiscal 2025 guidance, reflecting strong first-quarter performance and accounting for headwinds such as tariffs and the Neurovascular Associates, Inc. deal closure.
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