Stryker Corporation (NYSE:SYK) – Research analysts at Northcoast Research decreased their Q2 2018 earnings per share (EPS) estimates for Stryker in a report issued on Friday, according to Zacks Investment Research. Northcoast Research analyst D. Keiser now forecasts that the medical technology company will post earnings of $1.68 per share for the quarter, down from their prior estimate of $1.69.
Stryker (NYSE:SYK) last posted its earnings results on Tuesday, January 30th. The medical technology company reported $1.96 earnings per share for the quarter, topping the consensus estimate of $1.95 by $0.01. The firm had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $3.42 billion. Stryker had a net margin of 8.20% and a return on equity of 24.52%. The company’s revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the company earned $1.78 earnings per share.
Several other research firms also recently weighed in on SYK. SunTrust Banks reiterated a “buy” rating and issued a $179.00 target price (up previously from $161.00) on shares of Stryker in a research note on Friday, January 26th. Cantor Fitzgerald reiterated a “hold” rating and issued a $163.00 target price on shares of Stryker in a research note on Tuesday. Needham & Company LLC reiterated a “hold” rating on shares of Stryker in a research note on Wednesday. Leerink Swann lifted their target price on shares of Stryker from $177.00 to $184.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, Oppenheimer reiterated a “hold” rating and issued a $165.00 target price on shares of Stryker in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $162.50.
Stryker (NYSE SYK) traded up $0.43 on Monday, hitting $164.78. 1,500,000 shares of the stock traded hands, compared to its average volume of 1,200,000. The stock has a market capitalization of $61,670.00, a P/E ratio of 61.49, a price-to-earnings-growth ratio of 2.41 and a beta of 0.78. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.37 and a quick ratio of 1.61. Stryker has a 52-week low of $121.86 and a 52-week high of $170.00.
The business also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, December 28th. This is a positive change from Stryker’s previous quarterly dividend of $0.43. This represents a $1.88 annualized dividend and a yield of 1.14%. Stryker’s payout ratio is presently 70.15%.
In other Stryker news, insider Lonny J. Carpenter sold 5,000 shares of Stryker stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $155.34, for a total transaction of $776,700.00. Following the completion of the sale, the insider now directly owns 83,207 shares in the company, valued at $12,925,375.38. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 7.40% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Summit Securities Group LLC bought a new stake in shares of Stryker in the 4th quarter worth approximately $511,000. Hendley & Co. Inc. lifted its holdings in shares of Stryker by 10.3% in the 4th quarter. Hendley & Co. Inc. now owns 5,333 shares of the medical technology company’s stock worth $826,000 after acquiring an additional 500 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Stryker by 8.9% in the 4th quarter. Victory Capital Management Inc. now owns 26,252 shares of the medical technology company’s stock worth $4,065,000 after acquiring an additional 2,138 shares during the last quarter. Harrington Investments INC lifted its holdings in shares of Stryker by 9.3% in the 4th quarter. Harrington Investments INC now owns 8,954 shares of the medical technology company’s stock worth $1,386,000 after acquiring an additional 760 shares during the last quarter. Finally, CIBC World Markets Inc. lifted its holdings in shares of Stryker by 17.1% in the 4th quarter. CIBC World Markets Inc. now owns 22,193 shares of the medical technology company’s stock worth $3,436,000 after acquiring an additional 3,241 shares during the last quarter. Hedge funds and other institutional investors own 74.94% of the company’s stock.
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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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