Stryker Corporation (NYSE:SYK) – Equities researchers at William Blair lifted their FY2017 EPS estimates for Stryker in a note issued to investors on Tuesday. William Blair analyst K. Krum now expects that the medical technology company will post earnings per share of $6.50 for the year, up from their previous forecast of $6.46. William Blair also issued estimates for Stryker’s Q4 2017 earnings at $1.97 EPS, Q1 2018 earnings at $1.56 EPS, Q3 2018 earnings at $1.76 EPS and FY2018 earnings at $7.15 EPS.
Stryker (NYSE:SYK) last announced its earnings results on Thursday, October 26th. The medical technology company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.02. The firm had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Stryker had a net margin of 14.67% and a return on equity of 24.11%. The business’s revenue was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company earned $1.39 EPS.
SYK has been the topic of several other reports. SunTrust Banks restated a “buy” rating and set a $161.00 target price on shares of Stryker in a research report on Monday, October 2nd. Oppenheimer set a $156.00 target price on shares of Stryker and gave the company a “hold” rating in a research report on Monday, October 30th. Canaccord Genuity upped their target price on shares of Stryker from $155.00 to $162.00 and gave the company a “buy” rating in a research report on Friday, October 27th. Zacks Investment Research cut shares of Stryker from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. Finally, Cowen set a $160.00 target price on shares of Stryker and gave the company a “buy” rating in a research report on Friday, October 6th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the company. Stryker currently has an average rating of “Hold” and an average target price of $156.60.
Shares of Stryker (NYSE SYK) opened at $159.54 on Wednesday. The company has a current ratio of 2.37, a quick ratio of 1.61 and a debt-to-equity ratio of 0.63. The stock has a market cap of $59,710.00, a PE ratio of 34.02, a PEG ratio of 2.30 and a beta of 0.78. Stryker has a 1 year low of $119.17 and a 1 year high of $164.20.
Hedge funds have recently modified their holdings of the business. Coldstream Capital Management Inc. grew its stake in Stryker by 3.7% in the 2nd quarter. Coldstream Capital Management Inc. now owns 17,445 shares of the medical technology company’s stock worth $2,421,000 after acquiring an additional 626 shares in the last quarter. Retirement Systems of Alabama grew its stake in Stryker by 2.5% in the 3rd quarter. Retirement Systems of Alabama now owns 234,870 shares of the medical technology company’s stock worth $33,356,000 after acquiring an additional 5,656 shares in the last quarter. Toronto Dominion Bank grew its stake in Stryker by 25.8% in the 2nd quarter. Toronto Dominion Bank now owns 105,403 shares of the medical technology company’s stock worth $14,625,000 after acquiring an additional 21,585 shares in the last quarter. Colonial Trust Advisors grew its stake in Stryker by 56.1% in the 2nd quarter. Colonial Trust Advisors now owns 23,446 shares of the medical technology company’s stock worth $3,254,000 after acquiring an additional 8,426 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. grew its stake in Stryker by 3.1% in the 3rd quarter. Cornerstone Capital Management Holdings LLC. now owns 55,255 shares of the medical technology company’s stock worth $7,847,000 after acquiring an additional 1,683 shares in the last quarter. Institutional investors and hedge funds own 74.90% of the company’s stock.
In related news, insider Lonny J. Carpenter sold 5,000 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $155.34, for a total transaction of $776,700.00. Following the transaction, the insider now directly owns 83,207 shares in the company, valued at approximately $12,925,375.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 7.40% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 1.18%. This is an increase from Stryker’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, December 28th. Stryker’s dividend payout ratio is presently 40.09%.
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Stryker 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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