Bank of Montreal Can Buys 59,741 Shares of Stryker Corporation (SYK)
Bank of Montreal Can raised its stake in shares of Stryker Corporation (NYSE:SYK) by 24.8% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 300,372 shares of the medical technology company’s stock after purchasing an additional 59,741 shares during the period. Bank of Montreal Can’s holdings in Stryker were worth $46,510,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in SYK. Beach Investment Management LLC. bought a new stake in Stryker during the second quarter valued at about $1,924,000. Canandaigua National Bank & Trust Co. grew its holdings in Stryker by 9.5% during the second quarter. Canandaigua National Bank & Trust Co. now owns 7,169 shares of the medical technology company’s stock valued at $995,000 after purchasing an additional 623 shares during the period. Boys Arnold & Co. Inc. grew its holdings in Stryker by 1.0% during the second quarter. Boys Arnold & Co. Inc. now owns 18,373 shares of the medical technology company’s stock valued at $2,550,000 after purchasing an additional 184 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in Stryker by 10.4% during the second quarter. Robeco Institutional Asset Management B.V. now owns 109,515 shares of the medical technology company’s stock valued at $15,199,000 after purchasing an additional 10,272 shares during the period. Finally, Andra AP fonden grew its holdings in Stryker by 55.9% during the second quarter. Andra AP fonden now owns 167,900 shares of the medical technology company’s stock valued at $23,301,000 after purchasing an additional 60,200 shares during the period. 74.88% of the stock is owned by institutional investors and hedge funds.
In related news, insider Lonny J. Carpenter sold 5,000 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $155.34, for a total value of $776,700.00. Following the sale, the insider now directly owns 83,207 shares in the company, valued at $12,925,375.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 7.40% of the stock is currently owned by insiders.
Stryker (NYSE:SYK) last posted its earnings results on Thursday, October 26th. The medical technology company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.50 by $0.02. The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.97 billion. Stryker had a return on equity of 24.11% and a net margin of 14.67%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.39 earnings per share. analysts anticipate that Stryker Corporation will post 6.49 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be given a $0.47 dividend. This is an increase from Stryker’s previous quarterly dividend of $0.43. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.17%. The ex-dividend date is Thursday, December 28th. Stryker’s payout ratio is currently 40.09%.
Several equities analysts have recently commented on the company. SunTrust Banks restated a “buy” rating and issued a $161.00 price objective on shares of Stryker in a research report on Monday, October 2nd. Oppenheimer set a $156.00 price objective on Stryker and gave the company a “hold” rating in a research report on Monday, October 30th. Canaccord Genuity boosted their price objective on Stryker from $155.00 to $162.00 and gave the company a “buy” rating in a research report on Friday, October 27th. Zacks Investment Research downgraded Stryker from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. Finally, Cowen set a $160.00 price objective on Stryker and gave the company a “buy” rating in a research report on Friday, October 6th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and thirteen have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $156.60.
Stryker Company Profile
Stryker Corporation is a medical technology company. The Company offers a range of medical technologies, including orthopedic, medical and surgical, and neurotechnology and spine products. The Company’s segments include Orthopaedics; MedSurg; Neurotechnology and Spine, and Corporate and Other. The Orthopaedics segment includes reconstructive (hip and knee) and trauma implant systems and other related products.
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