Royal Bank of Canada Has $87.02 Million Stake in Stryker Co. (SYK)

Royal Bank of Canada cut its stake in Stryker Co. (NYSE:SYK) by 8.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 627,061 shares of the medical technology company’s stock after selling 59,640 shares during the quarter. Royal Bank of Canada owned about 0.17% of Stryker worth $87,023,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in SYK. BlackRock Inc. increased its holdings in shares of Stryker by 2,526.4% in the 1st quarter. BlackRock Inc. now owns 21,976,771 shares of the medical technology company’s stock valued at $2,893,242,000 after acquiring an additional 21,140,000 shares during the period. Vanguard Group Inc. increased its holdings in shares of Stryker by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 23,421,053 shares of the medical technology company’s stock valued at $3,083,382,000 after acquiring an additional 1,161,688 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Stryker by 41.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,403,420 shares of the medical technology company’s stock valued at $184,759,000 after acquiring an additional 414,715 shares during the period. SG Americas Securities LLC increased its holdings in shares of Stryker by 600.6% in the 1st quarter. SG Americas Securities LLC now owns 412,340 shares of the medical technology company’s stock valued at $54,285,000 after acquiring an additional 353,486 shares during the period. Finally, Morgan Stanley increased its holdings in shares of Stryker by 17.9% in the 1st quarter. Morgan Stanley now owns 2,144,472 shares of the medical technology company’s stock valued at $282,320,000 after acquiring an additional 325,661 shares during the period. Institutional investors and hedge funds own 74.10% of the company’s stock.

In other news, insider Lonny J. Carpenter sold 5,000 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $146.36, for a total transaction of $731,800.00. Following the completion of the sale, the insider now owns 88,207 shares in the company, valued at $12,909,976.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Graham A. Mclean sold 1,124 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $146.26, for a total transaction of $164,396.24. Following the sale, the insider now owns 8,983 shares of the company’s stock, valued at approximately $1,313,853.58. The disclosure for this sale can be found here. 7.40% of the stock is currently owned by corporate insiders.

WARNING: This news story was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this news story on another domain, it was copied illegally and reposted in violation of US & international trademark & copyright laws. The legal version of this news story can be viewed at https://ledgergazette.com/2017/10/19/royal-bank-of-canada-has-87-02-million-stake-in-stryker-co-syk.html.

A number of analysts have recently weighed in on SYK shares. Morgan Stanley raised their price objective on Stryker from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 21st. Royal Bank Of Canada reissued a “buy” rating and issued a $155.00 price objective on shares of Stryker in a research report on Friday, September 1st. Argus reissued a “buy” rating and issued a $160.00 price objective on shares of Stryker in a research report on Tuesday, August 29th. Cantor Fitzgerald started coverage on Stryker in a research report on Thursday, June 29th. They issued a “neutral” rating and a $153.00 price objective for the company. Finally, Zacks Investment Research raised Stryker from a “hold” rating to a “buy” rating and set a $163.00 price objective for the company in a research report on Monday, July 17th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $146.78.

Shares of Stryker Co. (NYSE:SYK) opened at 148.64 on Thursday. The firm has a market cap of $55.60 billion, a PE ratio of 33.18 and a beta of 0.80. Stryker Co. has a 12 month low of $106.48 and a 12 month high of $150.00. The firm’s 50-day moving average price is $143.70 and its 200-day moving average price is $140.89.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.02. Stryker had a net margin of 12.98% and a return on equity of 15.89%. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the prior year, the firm earned $1.39 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. Analysts expect that Stryker Co. will post $6.45 earnings per share for the current year.

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Several other large investors also recently made changes to their positions in SYK. BlackRock Inc. increased its holdings in shares of Stryker by 2,526.4% in the 1st quarter. BlackRock Inc. now owns 21,976,771 shares of the medical technology company’s stock valued at $2,893,242,000 after acquiring an additional 21,140,000 shares during the period. Vanguard Group Inc. increased its holdings in shares of Stryker by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 23,421,053 shares of the medical technology company’s stock valued at $3,083,382,000 after acquiring an additional 1,161,688 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Stryker by 41.9% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,403,420 shares of the medical technology company’s stock valued at $184,759,000 after acquiring an additional 414,715 shares during the period. SG Americas Securities LLC increased its holdings in shares of Stryker by 600.6% in the 1st quarter. SG Americas Securities LLC now owns 412,340 shares of the medical technology company’s stock valued at $54,285,000 after acquiring an additional 353,486 shares during the period. Finally, Morgan Stanley increased its holdings in shares of Stryker by 17.9% in the 1st quarter. Morgan Stanley now owns 2,144,472 shares of the medical technology company’s stock valued at $282,320,000 after acquiring an additional 325,661 shares during the period. Institutional investors and hedge funds own 74.10% of the company’s stock.

In other news, insider Lonny J. Carpenter sold 5,000 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $146.36, for a total transaction of $731,800.00. Following the completion of the sale, the insider now owns 88,207 shares in the company, valued at $12,909,976.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Graham A. Mclean sold 1,124 shares of the stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $146.26, for a total transaction of $164,396.24. Following the sale, the insider now owns 8,983 shares of the company’s stock, valued at approximately $1,313,853.58. The disclosure for this sale can be found here. 7.40% of the stock is currently owned by corporate insiders.

WARNING: This news story was first posted by The Ledger Gazette and is the property of of The Ledger Gazette. If you are accessing this news story on another domain, it was copied illegally and reposted in violation of US & international trademark & copyright laws. The legal version of this news story can be viewed at https://ledgergazette.com/2017/10/19/royal-bank-of-canada-has-87-02-million-stake-in-stryker-co-syk.html.

A number of analysts have recently weighed in on SYK shares. Morgan Stanley raised their price objective on Stryker from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 21st. Royal Bank Of Canada reissued a “buy” rating and issued a $155.00 price objective on shares of Stryker in a research report on Friday, September 1st. Argus reissued a “buy” rating and issued a $160.00 price objective on shares of Stryker in a research report on Tuesday, August 29th. Cantor Fitzgerald started coverage on Stryker in a research report on Thursday, June 29th. They issued a “neutral” rating and a $153.00 price objective for the company. Finally, Zacks Investment Research raised Stryker from a “hold” rating to a “buy” rating and set a $163.00 price objective for the company in a research report on Monday, July 17th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $146.78.

Shares of Stryker Co. (NYSE:SYK) opened at 148.64 on Thursday. The firm has a market cap of $55.60 billion, a PE ratio of 33.18 and a beta of 0.80. Stryker Co. has a 12 month low of $106.48 and a 12 month high of $150.00. The firm’s 50-day moving average price is $143.70 and its 200-day moving average price is $140.89.

Stryker (NYSE:SYK) last announced its earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.02. Stryker had a net margin of 12.98% and a return on equity of 15.89%. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.98 billion. During the same quarter in the prior year, the firm earned $1.39 earnings per share. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. Analysts expect that Stryker Co. will post $6.45 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be paid a dividend of $0.425 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.70 annualized dividend and a dividend yield of 1.14%. Stryker’s dividend payout ratio (DPR) is 37.95%.

Stryker 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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Institutional Ownership by Quarter for Stryker (NYSE:SYK)

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