Bank of Nova Scotia Purchases 146,808 Shares of Stryker Co. (NYSE:SYK)

Bank of Nova Scotia increased its holdings in Stryker Co. (NYSE:SYK - Free Report) by 334.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 190,679 shares of the medical technology company's stock after buying an additional 146,808 shares during the quarter. Bank of Nova Scotia owned about 0.05% of Stryker worth $68,654,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Kohmann Bosshard Financial Services LLC bought a new stake in shares of Stryker during the fourth quarter valued at about $25,000. Rakuten Securities Inc. raised its position in shares of Stryker by 618.2% during the 4th quarter. Rakuten Securities Inc. now owns 79 shares of the medical technology company's stock worth $28,000 after buying an additional 68 shares in the last quarter. Centricity Wealth Management LLC acquired a new stake in shares of Stryker in the 4th quarter worth approximately $30,000. BankPlus Trust Department acquired a new position in shares of Stryker during the fourth quarter valued at approximately $33,000. Finally, Activest Wealth Management bought a new stake in Stryker during the fourth quarter worth approximately $36,000. 77.09% of the stock is currently owned by institutional investors and hedge funds.

Stryker Stock Up 0.5 %

Shares of NYSE SYK traded up $1.81 during trading hours on Monday, hitting $352.09. The company had a trading volume of 329,900 shares, compared to its average volume of 1,355,493. The stock has a market capitalization of $134.39 billion, a P/E ratio of 45.37, a price-to-earnings-growth ratio of 2.93 and a beta of 0.93. The company has a quick ratio of 1.32, a current ratio of 1.95 and a debt-to-equity ratio of 0.59. The firm's 50 day moving average is $375.54 and its 200-day moving average is $373.63. Stryker Co. has a 1-year low of $314.93 and a 1-year high of $406.19.

Stryker (NYSE:SYK - Get Free Report) last announced its earnings results on Tuesday, January 28th. The medical technology company reported $4.01 EPS for the quarter, topping the consensus estimate of $3.87 by $0.14. Stryker had a net margin of 13.25% and a return on equity of 23.58%. During the same quarter in the prior year, the business posted $3.46 earnings per share. On average, analysts expect that Stryker Co. will post 13.47 earnings per share for the current fiscal year.

Stryker Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $3.36 dividend on an annualized basis and a yield of 0.95%. Stryker's dividend payout ratio (DPR) is presently 43.30%.

Insider Buying and Selling at Stryker

In other Stryker news, Director Allan C. Golston sold 2,458 shares of the firm's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $383.07, for a total value of $941,586.06. Following the transaction, the director now directly owns 14,895 shares of the company's stock, valued at $5,705,827.65. This trade represents a 14.16 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Ronda E. Stryker sold 201,392 shares of Stryker stock in a transaction that occurred on Friday, January 31st. The shares were sold at an average price of $392.24, for a total transaction of $78,993,998.08. Following the completion of the transaction, the director now directly owns 3,642,075 shares in the company, valued at $1,428,567,498. This trade represents a 5.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 5.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on SYK shares. StockNews.com downgraded Stryker from a "buy" rating to a "hold" rating in a research note on Thursday, March 6th. Barclays upped their price target on shares of Stryker from $418.00 to $443.00 and gave the company an "overweight" rating in a report on Monday, February 10th. Citigroup reaffirmed a "buy" rating and issued a $450.00 price objective on shares of Stryker in a research note on Wednesday, February 26th. JMP Securities reissued a "market perform" rating on shares of Stryker in a research note on Tuesday, February 18th. Finally, Stifel Nicolaus lifted their price target on shares of Stryker from $400.00 to $440.00 and gave the stock a "buy" rating in a research report on Wednesday, January 29th. Five analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $423.05.

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.