Stryker Corporation (NYSE:SYK) – Investment analysts at Northcoast Research decreased their Q3 2017 earnings per share (EPS) estimates for Stryker Corporation in a research note issued to investors on Monday. Northcoast Research analyst D. Keiser now forecasts that the medical technology company will post earnings of $1.45 per share for the quarter, down from their previous forecast of $1.50. Northcoast Research also issued estimates for Stryker Corporation’s FY2017 earnings at $6.42 EPS and Q3 2018 earnings at $1.68 EPS.
Stryker Corporation (NYSE:SYK) last released its quarterly earnings results on Thursday, July 27th. The medical technology company reported $1.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.02. The company had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.98 billion. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the business posted $1.39 earnings per share.
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A number of other research firms also recently commented on SYK. Cowen and Company set a $160.00 price objective on shares of Stryker Corporation and gave the company a “buy” rating in a report on Friday, October 6th. Zacks Investment Research downgraded shares of Stryker Corporation from a “buy” rating to a “hold” rating in a report on Thursday, August 17th. BidaskClub upgraded shares of Stryker Corporation from a “hold” rating to a “buy” rating in a report on Thursday, August 17th. Royal Bank Of Canada increased their price objective on shares of Stryker Corporation from $140.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, July 28th. Finally, Oppenheimer Holdings, Inc. set a $148.00 price objective on shares of Stryker Corporation and gave the company a “hold” rating in a report on Friday, July 28th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $146.78.
Stryker Corporation (NYSE SYK) opened at 148.79 on Tuesday. The company has a 50-day moving average price of $143.05 and a 200 day moving average price of $140.60. The stock has a market cap of $55.66 billion, a price-to-earnings ratio of 33.21 and a beta of 0.81. Stryker Corporation has a 52-week low of $106.48 and a 52-week high of $149.23.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be given a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.14%. Stryker Corporation’s payout ratio is currently 37.95%.
In related news, insider Lonny J. Carpenter sold 5,000 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 88,207 shares of the company’s stock, valued at approximately $12,909,976.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Graham A. Mclean sold 1,124 shares of the stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $146.26, for a total transaction of $164,396.24. Following the transaction, the insider now directly 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. Company insiders own 7.40% of the company’s stock.
Several large investors have recently bought and sold shares of the stock. WESPAC Advisors LLC purchased a new position in Stryker Corporation in the 1st quarter valued at approximately $414,000. Parametric Portfolio Associates LLC boosted its position in Stryker Corporation by 4.6% in the 1st quarter. Parametric Portfolio Associates LLC now owns 668,132 shares of the medical technology company’s stock valued at $87,960,000 after buying an additional 29,532 shares during the period. Marble Harbor Investment Counsel LLC boosted its position in Stryker Corporation by 1.3% in the 1st quarter. Marble Harbor Investment Counsel LLC now owns 30,721 shares of the medical technology company’s stock valued at $4,044,000 after buying an additional 400 shares during the period. Armor Investment Advisors LLC boosted its position in Stryker Corporation by 2.1% in the 1st quarter. Armor Investment Advisors LLC now owns 4,950 shares of the medical technology company’s stock valued at $652,000 after buying an additional 100 shares during the period. Finally, Pioneer Investment Management Inc. boosted its position in Stryker Corporation by 27.2% in the 1st quarter. Pioneer Investment Management Inc. now owns 58,469 shares of the medical technology company’s stock valued at $7,697,000 after buying an additional 12,520 shares during the period. 74.10% of the stock is owned by hedge funds and other institutional investors.
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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