Stryker Co. (SYK) Expected to Post Earnings of $1.68 Per Share

Equities research analysts predict that Stryker Co. (NYSE:SYK) will announce earnings per share of $1.68 for the current quarter, according to Zacks Investment Research. Eleven analysts have issued estimates for Stryker’s earnings. The highest EPS estimate is $1.70 and the lowest is $1.66. Stryker reported earnings of $1.52 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 10.5%. The company is expected to report its next earnings results after the market closes on Thursday, October 25th.

On average, analysts expect that Stryker will report full year earnings of $7.25 per share for the current financial year, with EPS estimates ranging from $7.23 to $7.26. For the next year, analysts expect that the company will report earnings of $7.98 per share, with EPS estimates ranging from $7.89 to $8.11. Zacks Investment Research’s earnings per share calculations are an average based on a survey of analysts that cover Stryker.

Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, July 24th. The medical technology company reported $1.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.73 by $0.03. The firm had revenue of $3.32 billion during the quarter, compared to analyst estimates of $3.31 billion. Stryker had a return on equity of 26.93% and a net margin of 8.28%. Stryker’s quarterly revenue was up 10.3% on a year-over-year basis. During the same period in the previous year, the company earned $1.53 earnings per share.

Several analysts recently weighed in on the company. ValuEngine raised Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, June 26th. Sanford C. Bernstein assumed coverage on Stryker in a report on Wednesday, June 27th. They set a “market perform” rating and a $177.00 target price for the company. Zacks Investment Research raised Stryker from a “hold” rating to a “buy” rating and set a $191.00 target price for the company in a report on Wednesday, June 20th. Canaccord Genuity reaffirmed a “buy” rating and set a $185.00 target price on shares of Stryker in a report on Wednesday, July 25th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $174.00 target price on shares of Stryker in a report on Thursday, July 12th. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Stryker has a consensus rating of “Buy” and an average target price of $180.71.

Stryker stock traded down $3.13 during midday trading on Thursday, hitting $173.10. The stock had a trading volume of 1,062,500 shares, compared to its average volume of 1,303,674. The company has a quick ratio of 1.15, a current ratio of 1.83 and a debt-to-equity ratio of 0.63. The firm has a market cap of $66.45 billion, a P/E ratio of 26.67, a P/E/G ratio of 2.49 and a beta of 0.59. Stryker has a 12 month low of $146.80 and a 12 month high of $179.84.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 31st. Stockholders of record on Friday, September 28th will be given a dividend of $0.47 per share. The ex-dividend date is Thursday, September 27th. This represents a $1.88 annualized dividend and a dividend yield of 1.09%. Stryker’s dividend payout ratio is presently 28.97%.

In other news, CFO Glenn S. Boehnlein sold 750 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $178.17, for a total transaction of $133,627.50. Following the completion of the transaction, the chief financial officer now directly owns 2,785 shares in the company, valued at $496,203.45. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Katherine Ann Owen sold 37,866 shares of the business’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $166.84, for a total value of $6,317,563.44. Following the transaction, the vice president now owns 11,367 shares of the company’s stock, valued at $1,896,470.28. The disclosure for this sale can be found here. Insiders own 7.30% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. MayTech Global Investments LLC boosted its position in shares of Stryker by 9.5% during the second quarter. MayTech Global Investments LLC now owns 18,487 shares of the medical technology company’s stock worth $3,122,000 after buying an additional 1,604 shares during the period. Chartwell Investment Partners LLC acquired a new position in shares of Stryker during the second quarter worth approximately $1,409,000. Nissay Asset Management Corp Japan ADV lifted its position in Stryker by 1.4% in the second quarter. Nissay Asset Management Corp Japan ADV now owns 40,024 shares of the medical technology company’s stock worth $6,758,000 after purchasing an additional 544 shares during the period. Quest Investment Management LLC acquired a new stake in Stryker in the second quarter worth approximately $12,762,000. Finally, Moneta Group Investment Advisors LLC lifted its position in Stryker by 354,407.4% in the second quarter. Moneta Group Investment Advisors LLC now owns 95,717 shares of the medical technology company’s stock worth $135,000 after purchasing an additional 95,690 shares during the period. Institutional investors and hedge funds own 75.11% of the company’s stock.

About Stryker

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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