Boston, MA 10/01/2014 (wallstreetpr) – Medical technology company, Stryker Corporation (NYSE:SYK)’s Independent Director, Ronda Stryker, has divested 7,000 shares each on three trading sessions from the indirect holding stake. However, the Director has retained the existing direct holding. In the last three-month period, only sellers dominated and there were no buyers from the insiders.
Sells Shares
One of the major shareholders, who come under the 10% ownership category, Stryker Corporation (NYSE:SYK)’s Independent Director has sold 7,000 shares on September 30 at the rate of $81.34 a share, a Form 4 filed with the regulator indicated. The shares were held by Revocable Trust and realized an amount of $569,380 from the sale.
The selling price suggested that Ronda Stryker has realized 21.5% premium over the one-year low price of $66.93. However, the Director has received 6.4% below the 52-week high price of $86.93.
The Director also sold another 7,000 shares on September 29 at a cost of $81.15 per share and realized an amount of $568,050 from the sale. Similarly, on September 26, Ronda has unloaded 7,000 shares at the rate of $81.30 a share. Revocable Trust, which was the direct beneficiary, received $569,100 from the first sale.
Holding In Stryker
In all, 21,000 shares were sold and the Trust and realized an amount of $1.71 million from the sale. As a result, the net holding by the Trust reduced to approximately 10.64 million shares, which is worth around $859.48 million based on the closing price of $80.75 on September 30.
The Independent Director also has a stake through another source, L Lee Stryker Trust. This trust has nearly 17.21 million shares stake in Stryker Corporation (NYSE:SYK), which is valued around $1.39 billion based on Tuesday’s closing value.
These apart, there was a direct holding of 174,605 shares worth approximately $14.01 million while the Director’s husband holds 40,000 shares valued around $3.23 million.
Earlier Insider Activities
According to a data from Nasdaq, there were 65 transactions of insider trading activities in the last three-month period and all belonged to selling of 501,625 shares only. There was no buying activity from the insiders.
