Bank of Nova Scotia Acquires 63,802 Shares of Stryker Corporation (SYK)
Bank of Nova Scotia raised its position in shares of Stryker Corporation (NYSE:SYK) by 913.0% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 70,790 shares of the medical technology company’s stock after buying an additional 63,802 shares during the period. Bank of Nova Scotia’s holdings in Stryker Corporation were worth $9,319,000 as of its most recent filing with the SEC.
Other institutional investors have also made changes to their positions in the company. Bollard Group LLC boosted its position in shares of Stryker Corporation by 0.4% in the first quarter. Bollard Group LLC now owns 829 shares of the medical technology company’s stock worth $109,000 after buying an additional 3 shares in the last quarter. Baystate Wealth Management LLC raised its stake in Stryker Corporation by 2.1% in the first quarter. Baystate Wealth Management LLC now owns 1,066 shares of the medical technology company’s stock valued at $139,000 after buying an additional 22 shares during the last quarter. Guardian Life Insurance Co. of America raised its stake in Stryker Corporation by 0.8% in the first quarter. Guardian Life Insurance Co. of America now owns 1,199 shares of the medical technology company’s stock valued at $158,000 after buying an additional 9 shares during the last quarter. Assetmark Inc. raised its stake in Stryker Corporation by 0.3% in the first quarter. Assetmark Inc. now owns 1,274 shares of the medical technology company’s stock valued at $168,000 after buying an additional 4 shares during the last quarter. Finally, Daiwa SB Investments Ltd. purchased a new stake in Stryker Corporation during the first quarter valued at $170,000. Institutional investors own 73.99% of the company’s stock.
Shares of Stryker Corporation (NYSE:SYK) traded up 0.41% on Friday, hitting $144.50. 262,217 shares of the stock traded hands. The stock has a market cap of $54.05 billion, a PE ratio of 32.25 and a beta of 0.80. Stryker Corporation has a 1-year low of $106.48 and a 1-year high of $148.84. The stock has a 50 day moving average of $143.63 and a 200-day moving average of $135.35.
Stryker Corporation (NYSE:SYK) last released its quarterly earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.02. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. The firm had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter last year, the firm posted $1.39 EPS. The company’s revenue was up 6.1% compared to the same quarter last year. On average, equities research analysts expect that Stryker Corporation will post $6.50 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be issued a $0.425 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.70 annualized dividend and a dividend yield of 1.18%. Stryker Corporation’s payout ratio is currently 37.95%.
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Several equities research analysts have recently weighed in on SYK shares. Morgan Stanley upped their target price on shares of Stryker Corporation from $145.00 to $155.00 and gave the stock an “overweight” rating in a report on Wednesday, June 21st. Needham & Company LLC reaffirmed a “sell” rating on shares of Stryker Corporation in a report on Wednesday, April 26th. Jefferies Group LLC reaffirmed a “hold” rating and issued a $132.00 target price on shares of Stryker Corporation in a report on Thursday, April 13th. Cantor Fitzgerald started coverage on shares of Stryker Corporation in a report on Thursday, June 29th. They issued a “neutral” rating and a $153.00 target price on the stock. Finally, BidaskClub lowered shares of Stryker Corporation from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 13th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $144.03.
In related news, insider Graham A. Mclean sold 1,124 shares of the firm’s stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $146.26, for a total transaction of $164,396.24. Following the transaction, the insider now directly owns 8,983 shares of the company’s stock, valued at approximately $1,313,853.58. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Lonny J. Carpenter sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $146.36, for a total value of $731,800.00. Following the transaction, the insider now directly owns 88,207 shares in the company, valued at $12,909,976.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,810 shares of company stock worth $4,754,958. Insiders own 7.40% of the company’s stock.
Stryker Corporation 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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