Bank of Nova Scotia Grows Stock Holdings in Stryker Corporation $SYK

Bank of Nova Scotia grew its position in shares of Stryker Corporation (NYSE:SYK) by 20.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 136,650 shares of the medical technology company’s stock after buying an additional 22,968 shares during the quarter. Bank of Nova Scotia’s holdings in Stryker were worth $44,902,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in Stryker by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 33,907,291 shares of the medical technology company’s stock valued at $11,917,396,000 after purchasing an additional 133,892 shares during the last quarter. State Street Corp lifted its stake in Stryker by 2.1% in the fourth quarter. State Street Corp now owns 15,254,407 shares of the medical technology company’s stock worth $5,374,731,000 after acquiring an additional 311,507 shares during the period. Geode Capital Management LLC boosted its holdings in Stryker by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 7,535,572 shares of the medical technology company’s stock valued at $2,636,238,000 after acquiring an additional 69,851 shares in the last quarter. Wellington Management Group LLP increased its position in Stryker by 22.6% during the 4th quarter. Wellington Management Group LLP now owns 6,493,276 shares of the medical technology company’s stock valued at $2,282,192,000 after purchasing an additional 1,198,665 shares during the period. Finally, Norges Bank purchased a new position in Stryker during the 4th quarter valued at $1,822,272,000. 77.09% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, VP Robert S. Fletcher sold 4,544 shares of Stryker stock in a transaction that occurred on Thursday, May 28th. The shares were sold at an average price of $306.87, for a total transaction of $1,394,417.28. Following the sale, the vice president owned 10,582 shares in the company, valued at $3,247,298.34. This trade represents a 30.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Ronda E. Stryker sold 310,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $312.23, for a total transaction of $96,791,300.00. Following the transaction, the director owned 1,924,880 shares of the company’s stock, valued at approximately $601,005,282.40. This represents a 13.87% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 323,264 shares of company stock worth $100,659,489. 4.60% of the stock is owned by corporate insiders.

Stryker Trading Up 3.7%

Stryker stock opened at $330.69 on Friday. Stryker Corporation has a 12-month low of $281.00 and a 12-month high of $404.14. The firm has a market capitalization of $126.77 billion, a price-to-earnings ratio of 38.27, a P/E/G ratio of 2.04 and a beta of 0.77. The firm has a 50 day moving average of $314.69 and a 200 day moving average of $335.66. The company has a current ratio of 2.11, a quick ratio of 1.25 and a debt-to-equity ratio of 0.62.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Thursday, April 30th. The medical technology company reported $2.60 earnings per share for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.38). The firm had revenue of $6.02 billion during the quarter, compared to the consensus estimate of $6.34 billion. Stryker had a return on equity of 23.42% and a net margin of 13.20%.The business’s revenue for the quarter was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.84 earnings per share. Stryker has set its FY 2026 guidance at 14.900-15.100 EPS. As a group, research analysts predict that Stryker Corporation will post 14.99 earnings per share for the current year.

Stryker Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Tuesday, June 30th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.1%. Stryker’s dividend payout ratio is 40.74%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on SYK shares. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $361.00 target price on shares of Stryker in a research note on Friday, May 1st. Citigroup lowered their target price on Stryker from $420.00 to $385.00 and set a “buy” rating for the company in a research note on Tuesday, April 7th. BTIG Research set a $371.00 price target on Stryker in a research report on Monday, July 13th. Sanford C. Bernstein set a $410.00 price objective on Stryker in a report on Friday, May 1st. Finally, Needham & Company LLC lowered their price objective on Stryker from $454.00 to $418.00 and set a “buy” rating for the company in a research report on Friday, May 1st. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $392.52.

About Stryker

Stryker Corporation is a global medical technology company that designs, manufactures and markets a broad range of products and services for use in hospitals, surgeons’ offices and other healthcare facilities. Its primary business activities span orthopedics (including joint replacement implants, trauma and extremities products), surgical equipment and operating room technologies (such as visualization, navigation and powered instruments), neurotechnology and spine solutions, and patient-handling and emergency medical equipment.