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Allan C. Golston, a director at Stryker Corp (NYSE:SYK), a prominent $148 billion healthcare equipment company trading near its 52-week high of $406.19, recently reported significant stock transactions involving the company’s common stock. On February 18, Golston sold 2,458 shares at an average price of $383.07, amounting to a total of approximately $941,586. This sale follows a series of transactions on the same day.
In addition to the sale, Golston exercised stock options to acquire 3,605 shares at a price of $122.51, totaling around $441,648. These options were granted under the Stryker Corporation 2011 Long-Term Incentive Plan. Furthermore, Golston disposed of 1,147 shares at a price of $385.18, totaling approximately $441,801, to cover tax obligations related to the option exercise. According to InvestingPro, Stryker maintains strong financial health with consistently growing dividends for 35 consecutive years.
Following these transactions, Golston holds 14,895 shares of Stryker common stock. The company’s stock generally trades with low price volatility and currently appears overvalued according to InvestingPro’s Fair Value analysis, which offers 12+ additional insights and a comprehensive Pro Research Report for deeper analysis.
In other recent news, Stryker Corporation has completed its acquisition of Inari Medical (TASE:BLWV), Inc. for approximately $4.94 billion, expanding its product portfolio in the medical technology sector. This strategic acquisition was executed through a merger with Stryker’s subsidiary, Eagle 1 Merger Sub, Inc., making Inari Medical a part of Stryker. In a related move, Stryker raised $3 billion through a debt offering to fund this acquisition, consisting of four series of notes with varying maturity dates. The proceeds from the notes are earmarked for the acquisition and other corporate purposes. Additionally, Stryker announced an increase in its quarterly dividend to $0.84 per share, reflecting a 5.0% rise from the previous year. Meanwhile, Truist Securities has adjusted its price target for Stryker to $413, maintaining a Hold rating on the stock. This assessment considered Stryker’s recent performance and strategic changes, although the firm noted that Stryker’s profitability growth trails behind some of its peers. In corporate governance news, Stryker disclosed the upcoming retirement of board member Allan Golston, effective at the annual shareholders meeting in May 2025.
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