Bank of Nova Scotia Has $9.72 Million Position in Stryker Corporation (SYK)
Bank of Nova Scotia decreased its position in Stryker Corporation (NYSE:SYK) by 1.1% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 70,004 shares of the medical technology company’s stock after selling 786 shares during the quarter. Bank of Nova Scotia’s holdings in Stryker Corporation were worth $9,715,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Acrospire Investment Management LLC acquired a new position in Stryker Corporation in the 2nd quarter valued at about $111,000. Motco raised its stake in Stryker Corporation by 50.7% in the 2nd quarter. Motco now owns 826 shares of the medical technology company’s stock valued at $115,000 after purchasing an additional 278 shares during the last quarter. Bollard Group LLC raised its stake in Stryker Corporation by 0.4% in the 2nd quarter. Bollard Group LLC now owns 832 shares of the medical technology company’s stock valued at $115,000 after purchasing an additional 3 shares during the last quarter. Bruderman Asset Management LLC acquired a new position in Stryker Corporation in the 2nd quarter valued at about $150,000. Finally, James Investment Research Inc. acquired a new position in Stryker Corporation in the 2nd quarter valued at about $155,000. 74.10% of the stock is owned by hedge funds and other institutional investors.
Shares of Stryker Corporation (NYSE:SYK) opened at 150.49 on Monday. The company’s 50-day moving average is $144.25 and its 200-day moving average is $141.08. The firm has a market cap of $56.29 billion, a P/E ratio of 33.59 and a beta of 0.80. Stryker Corporation has a 52-week low of $106.48 and a 52-week high of $150.51.
Stryker Corporation (NYSE:SYK) last posted its quarterly earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share for the quarter, topping the Zacks’ 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 company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same period last year, the business earned $1.39 EPS. The business’s quarterly revenue was up 6.1% on a year-over-year basis. Equities research analysts forecast that Stryker Corporation will post $6.45 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be paid a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.13%. The ex-dividend date is Thursday, September 28th. Stryker Corporation’s payout ratio is 37.95%.
In related news, insider Graham A. Mclean sold 1,124 shares of the firm’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $146.26, for a total value 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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Lonny J. Carpenter sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $146.36, for a total value of $731,800.00. Following the completion of 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. 7.40% of the stock is currently owned by company insiders.
Several research analysts recently weighed in on the stock. Cowen and Company set a $160.00 target price on shares of Stryker Corporation and gave the company a “buy” rating in a research note on Friday, October 6th. Zacks Investment Research downgraded shares of Stryker Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, August 17th. BidaskClub raised shares of Stryker Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Royal Bank Of Canada boosted their target price on shares of Stryker Corporation from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. Finally, Oppenheimer Holdings, Inc. set a $148.00 target price on shares of Stryker Corporation and gave the company a “hold” rating in a research note on Friday, July 28th. Three analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company. Stryker Corporation has a consensus rating of “Hold” and an average price target of $146.78.
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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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