Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Stryker Corp. shares valued at $2,756,730 were sold by Berry William E Jr on Mar 07 ’24. At $358.48 per share, Berry William E Jr sold 7,690 shares. The insider’s holdings dropped to 3,675 shares worth approximately $1.27 million following the completion of this transaction.
Also, Boehnlein Glenn S sold 9,600 shares, netting a total of over 3,290,952 in proceeds. Following the sale of shares at $342.81 each, the insider now holds 20,194 shares.
Before that, STRYKER RONDA E had sold 92,296 shares from its account. In a trade valued at $31,376,021, the Director traded Stryker Corp. shares for $339.95 each. Upon closing the transaction, the insider’s holdings decreased to 92,296 shares, worth approximately $1.27 billion.
As published in a research note from Canaccord Genuity on January 31, 2024, Stryker Corp. [SYK] has been rated up from a Hold to a Buy and the price target has been revised to $360 from $315. Analysts at ROTH MKM started covering the stock with ‘”a Buy”‘ outlook in a report released in mid October. As of September 05, 2023, BofA Securities has increased its “Neutral” rating to a “Buy” for SYK. Earlier on March 29, 2023, UBS initiated its rating. Their recommendation was “a Neutral” for SYK stock.
Analyzing SYK Stock Performance
During the last five days, there has been a drop of approximately -0.31%. Over the course of the year, Stryker Corp. shares have jumped approximately 15.64%. Shares of the company reached a 52-week high of $361.41 on 03/11/24 and a 52-week low of $292.43 on 01/03/24. A 50-day SMA is recorded $350.18, while a 200-day SMA reached $303.12. Nevertheless, trading volume fell to 0.82 million shares from 0.65 million shares the previous day.
Support And Resistance Levels for Stryker Corp. (SYK)
According to the 24-hour chart, there is a support level at 343.82, which, if violated, would cause prices to drop to 341.35. In the upper region, resistance lies at 349.09. The next price resistance is at 351.89. RSI (Relative Strength Index) is 43.71 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -3.13, which suggests the price will decrease in the coming days. Percent R is at 86.06%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is Stryker Corp. subject to short interest?
Stocks of Stryker Corp. saw a sharp rise in short interest on Mar 28, 2024 jumping by 0.49 million shares to 4.24 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 3.75 million shares. A jump of 11.56% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 3.74 of the overall float, the days-to-cover ratio (short ratio) jumped to 3.74.
