Stryker Corporation (NYSE:SYK) announced its quarterly earnings data on Thursday. The medical technology company reported $1.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.50 by $0.02, Bloomberg Earnings reports. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.97 billion. During the same period in the previous year, the company posted $1.39 EPS. The firm’s revenue was up 6.1% on a year-over-year basis. Stryker Corporation updated its Q4 guidance to $1.92-1.97 EPS.
Stryker Corporation (NYSE:SYK) traded down 0.91% during mid-day trading on Thursday, reaching $148.82. The company had a trading volume of 1,226,056 shares. The stock has a market capitalization of $55.67 billion, a price-to-earnings ratio of 33.22 and a beta of 0.80. The stock has a 50 day moving average of $144.88 and a 200 day moving average of $141.56. Stryker Corporation has a 52 week low of $106.48 and a 52 week high of $151.88.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be issued a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.70 annualized dividend and a yield of 1.14%. Stryker Corporation’s payout ratio is presently 37.95%.
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SYK has been the topic of a number of research analyst reports. Cantor Fitzgerald initiated coverage on Stryker Corporation in a report on Thursday, June 29th. They issued a “neutral” rating and a $153.00 price target on the stock. Jefferies Group LLC reissued a “hold” rating and issued a $132.00 price target on shares of Stryker Corporation in a report on Friday, June 30th. Morgan Stanley reissued an “overweight” rating and issued a $160.00 price target (up from $155.00) on shares of Stryker Corporation in a report on Monday, July 10th. BMO Capital Markets reissued a “hold” rating and issued a $140.00 price target on shares of Stryker Corporation in a report on Tuesday, July 11th. Finally, Zacks Investment Research raised Stryker Corporation from a “hold” rating to a “buy” rating and set a $163.00 price target on the stock in a report on Monday, July 17th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $146.78.
In related news, insider Lonny J. Carpenter sold 5,000 shares of Stryker Corporation stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $146.36, for a total transaction of $731,800.00. Following the transaction, the insider now owns 88,207 shares in the company, valued at $12,909,976.52. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Graham A. Mclean sold 1,124 shares of Stryker Corporation stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $146.26, for a total value of $164,396.24. Following the transaction, the insider now owns 8,983 shares in the company, valued at approximately $1,313,853.58. The disclosure for this sale can be found here. Company insiders own 7.40% of the company’s stock.
Stryker Corporation Company 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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