Legal & General Group Plc Grows Position in Stryker Corporation (NYSE:SYK)

Stryker Sniffs Out a Tuck-In Opportunity for ENT

In July, Entellus said it acquired Spirox Inc. of Redwood City, Calif. for $81 million, including $25 million in cash and the rest in stock.

Shares of Entellus Medical Inc (NASDAQ:ENTL) have been given a consensus recommendation of "Hold" by the nine brokerages that are now covering the firm, MarketBeat.com reports. A rating of 1 or 2 would represent a Buy, and a 3 rating would signify a Hold on the stock.

The year-to-date performance of the stock is -15.60%.

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The transaction is expected to be dilutive to Stryker's 2018 adjusted net earnings per diluted share [1] by approximately $0.04 and accretive thereafter. Current price levels see the company 47.91% off the 20-day simple moving average. The firm's market capitalization is $299.37 million. (NASDAQ:ENTL)'s stock is experiencing unusual volume during today's trading. The medical technology company reported $1.52 earnings per share for the quarter, beating the Zacks' consensus estimate of $1.50 by $0.02.

Stryker has agreed to pay $24 per share for Entellus, a premium of about 50 percent from Wednesday's closing price. The business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.97 billion. Entellus Medical's revenue was up 13.0% on a year-over-year basis.

In other news, insider Robert S. White bought 10,000 shares of the business's stock in a transaction on Monday, May 8th. During the same period in the previous year, the company posted $1.39 EPS. equities analysts expect that Stryker will post 6.47 earnings per share for the current year. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Analysts have also given a consensus recommendation on the stock of 2.40. The shares were sold at an average price of $155.34, for a total value of $776,700.00. The disclosure for this purchase can be found here. Following the sale, the insider now directly owns 83,207 shares in the company, valued at $12,925,375.38. Institutional investors own 74.97% of the company's stock. Morgan Stanley boosted its position in shares of Stryker by 17.9% during the first quarter. BlackRock Inc. now owns 23,115,853 shares of the medical technology company's stock valued at $3,208,017,000 after purchasing an additional 1,139,082 shares during the last quarter. Quinn Opportunity Partners LLC bought a new stake in Entellus Medical during the fourth quarter worth $241,000. Finally, Bruderman Asset Management LLC acquired a new stake in shares of Stryker in the second quarter valued at $150,000. Jensen Investment Management Inc. now owns 2,472,476 shares of the medical technology company's stock worth $351,141,000 after buying an additional 251,685 shares during the period. ENTL is the leader in minimally invasive surgical (MIS) treatment of ear, nose, and throat (ENT) diseases and manufactures products that specifically cover nasal procedures.

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