Scotia Capital Inc. Has $36.98 Million Position in Stryker Corporation (NYSE:SYK)

Key Points

• Scotia Capital Inc. increased its stake in Stryker Corporation by 5.2%, holding a total of $36.98 million worth of shares.
• Institutional investors collectively own 77.09% of Stryker's stock, with notable increases from firms such as GAMMA Investing and FMR LLC.
• Stryker reported higher than expected earnings of $3.13 EPS for the last quarter, along with a declared quarterly dividend of $0.84 per share.

Scotia Capital Inc. lifted its position in shares of Stryker Corporation (NYSE:SYK - Free Report) by 5.2% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 99,335 shares of the medical technology company's stock after acquiring an additional 4,876 shares during the quarter. Scotia Capital Inc.'s holdings in Stryker were worth $36,977,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SYK. GAMMA Investing LLC raised its position in shares of Stryker by 43,226.8% during the first quarter. GAMMA Investing LLC now owns 2,074,922 shares of the medical technology company's stock worth $772,390,000 after acquiring an additional 2,070,133 shares during the last quarter. FMR LLC raised its position in shares of Stryker by 10.0% during the fourth quarter. FMR LLC now owns 8,034,844 shares of the medical technology company's stock worth $2,892,946,000 after acquiring an additional 727,850 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Stryker during the fourth quarter worth $154,140,000. Northern Trust Corp increased its holdings in Stryker by 13.2% in the fourth quarter. Northern Trust Corp now owns 3,606,237 shares of the medical technology company's stock valued at $1,298,426,000 after purchasing an additional 420,153 shares during the last quarter. Finally, APG Asset Management N.V. increased its holdings in Stryker by 1,695.0% in the fourth quarter. APG Asset Management N.V. now owns 370,226 shares of the medical technology company's stock valued at $128,730,000 after purchasing an additional 349,601 shares during the last quarter. Institutional investors own 77.09% of the company's stock.

Stryker Trading Down 3.6%

NYSE SYK opened at $378.62 on Friday. The business's fifty day moving average is $387.46 and its 200 day moving average is $380.39. Stryker Corporation has a twelve month low of $314.93 and a twelve month high of $406.19. The company has a quick ratio of 1.00, a current ratio of 1.64 and a debt-to-equity ratio of 0.69. The company has a market cap of $144.52 billion, a price-to-earnings ratio of 50.15, a price-to-earnings-growth ratio of 2.80 and a beta of 0.91.

Stryker (NYSE:SYK - Get Free Report) last issued its earnings results on Thursday, July 31st. The medical technology company reported $3.13 EPS for the quarter, beating analysts' consensus estimates of $3.07 by $0.06. Stryker had a return on equity of 24.12% and a net margin of 12.25%. The business had revenue of $6.02 billion during the quarter, compared to analyst estimates of $5.92 billion. During the same period in the previous year, the company posted $2.81 EPS. The firm's revenue was up 11.1% compared to the same quarter last year. As a group, sell-side analysts expect that Stryker Corporation will post 13.47 EPS for the current fiscal year.

Stryker Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were paid a dividend of $0.84 per share. The ex-dividend date was Monday, June 30th. This represents a $3.36 dividend on an annualized basis and a yield of 0.9%. Stryker's payout ratio is 45.41%.

Insider Transactions at Stryker

In other news, Director Ronda E. Stryker sold 200,000 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $376.96, for a total value of $75,392,000.00. Following the transaction, the director owned 3,417,326 shares in the company, valued at $1,288,195,208.96. The trade was a 5.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 5.90% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Needham & Company LLC upped their price objective on Stryker from $442.00 to $448.00 and gave the company a "buy" rating in a report on Friday. Wall Street Zen upgraded Stryker from a "hold" rating to a "buy" rating in a report on Friday, July 18th. Roth Mkm upped their price objective on Stryker from $405.00 to $456.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Citigroup reiterated a "buy" rating and issued a $455.00 price objective (up previously from $443.00) on shares of Stryker in a report on Thursday, May 22nd. Finally, Sanford C. Bernstein set a $450.00 price target on Stryker in a report on Monday, May 5th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Stryker presently has an average rating of "Moderate Buy" and an average price target of $429.35.

Stryker Profile

Stryker Corporation operates as a medical technology company. The company operates through two segments, MedSurg and Neurotechnology, and Orthopaedics and Spine. The Orthopaedics and Spine segment provides implants for use in total joint replacements, such as hip, knee and shoulder, and trauma and extremities surgeries.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.