Toronto Dominion Bank Has $45.89 Million Stake in Stryker Co. (NYSE:SYK)
Toronto Dominion Bank lifted its holdings in shares of Stryker Co. (NYSE:SYK) by 0.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 223,261 shares of the medical technology company’s stock after purchasing an additional 1,487 shares during the quarter. Toronto Dominion Bank’s holdings in Stryker were worth $45,885,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Geode Capital Management LLC boosted its holdings in shares of Stryker by 6.5% during the 4th quarter. Geode Capital Management LLC now owns 3,665,205 shares of the medical technology company’s stock worth $573,387,000 after buying an additional 224,785 shares during the period. Alps Advisors Inc. bought a new position in shares of Stryker during the first quarter worth approximately $417,000. Victory Capital Management Inc. lifted its holdings in Stryker by 388.2% during the 1st quarter. Victory Capital Management Inc. now owns 22,352 shares of the medical technology company’s stock worth $4,415,000 after purchasing an additional 17,774 shares during the last quarter. Bbva Compass Bancshares Inc. lifted its holdings in Stryker by 1.1% during the 1st quarter. Bbva Compass Bancshares Inc. now owns 11,663 shares of the medical technology company’s stock worth $2,304,000 after purchasing an additional 123 shares during the last quarter. Finally, Stephens Inc. AR boosted its stake in Stryker by 9.4% in the 1st quarter. Stephens Inc. AR now owns 6,447 shares of the medical technology company’s stock valued at $1,273,000 after purchasing an additional 552 shares during the period. Institutional investors and hedge funds own 73.01% of the company’s stock.
In other news, COO Timothy J. Scannell sold 4,666 shares of Stryker stock in a transaction on Friday, August 16th. The stock was sold at an average price of $217.08, for a total value of $1,012,895.28. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Allan C. Golston sold 3,399 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $209.84, for a total value of $713,246.16. Following the transaction, the director now directly owns 13,762 shares of the company’s stock, valued at approximately $2,887,818.08. The disclosure for this sale can be found here. Insiders have sold a total of 20,447 shares of company stock worth $4,262,634 in the last quarter. 7.20% of the stock is currently owned by company insiders.
Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, July 25th. The medical technology company reported $1.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.93 by $0.05. Stryker had a net margin of 24.99% and a return on equity of 25.98%. The firm had revenue of $3.65 billion for the quarter, compared to the consensus estimate of $3.60 billion. During the same period in the prior year, the company posted $1.76 earnings per share. The business’s revenue for the quarter was up 9.9% on a year-over-year basis. As a group, research analysts anticipate that Stryker Co. will post 8.21 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 31st. Stockholders of record on Monday, September 30th will be issued a dividend of $0.52 per share. This represents a $2.08 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date of this dividend is Friday, September 27th. Stryker’s dividend payout ratio (DPR) is presently 28.45%.
A number of research analysts have commented on SYK shares. Cantor Fitzgerald upped their price objective on Stryker from $190.00 to $230.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Raymond James set a $240.00 target price on shares of Stryker and gave the company a “buy” rating in a research report on Friday, July 26th. Piper Jaffray Companies reissued a “buy” rating on shares of Stryker in a research report on Wednesday, September 4th. Barclays set a $226.00 price target on shares of Stryker and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Robert W. Baird raised their price target on shares of Stryker from $206.00 to $239.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Five research analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company. Stryker presently has an average rating of “Buy” and an average price target of $214.89.
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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