Shares of Stryker Corporation (NYSE:SYK) ended Friday session in red amid volatile trading. The shares closed down -4.33 points or -3.77% at $110.54 with 2,486,278 shares getting traded. Post opening the session at $114.10, the shares hit an intraday low of $110.43 and an intraday high of $114.13 and the price vacillated in this range throughout the day. The company has a market cap of $39.82 billion and the numbers of outstanding shares have been calculated to be 374.00 million shares.
Stryker Corporation (SYK) announced that it will participate in the Morgan Stanley Global Healthcare Conference on Wednesday, September 14, 2016 at the Grand Hyatt New York. Kevin Lobo, Chairman and Chief Executive Officer, will represent the Company in a presentation scheduled for 8:45 a.m. Eastern Time.
A simultaneous webcast and replay of the Company`s presentation will be available on Stryker`s website at www.stryker.com.
Shares of PDL BioPharma Inc (NASDAQ:PDLI) ended Friday session in red amid volatile trading. The shares closed down -0.33 points or -10.00% at $2.97 with 2.49 million shares getting traded. Post opening the session at $3.26, the shares hit an intraday low of $2.97 and an intraday high of $3.26 and the price vacillated in this range throughout the day. The company has a market cap of $442.49 million and the numbers of outstanding shares have been calculated to be 165.54 million shares.
PDL BioPharma Inc (PDLI) on Aug. 29, 2016 announced that PDL has received approximately $57.4 million in connection with the termination of PDL’s credit agreement with Paradigm Spine, LLC, which included a repayment of the full principal amount outstanding of $54.7 million as well as accrued interest and a prepayment fee. In February 2014, PDL entered into a credit agreement with Paradigm Spine in which it made available up to $75.0 million of debt financing with a five-year term, and initially provided $50.0 million, net of fees. PDL subsequently provided an additional $4.0 million in October 2015 as part of an amendment to the credit agreement.
“We are pleased with the successful conclusion of our debt financing to Paradigm Spine and the return on investment it has generated for PDL. This marks the fifth matured investment of the 17 income generating asset transactions we have entered into since we began these efforts in mid-2012,” stated John P. McLaughlin, president and chief executive officer of PDL. “We congratulate Paradigm Spine on their commercial progress and thank them for the opportunity to partner with them by offering debt financing to support their commercialization efforts.”