Brokerages forecast that Stryker Co. (NYSE:SYK) will announce sales of $3.60 billion for the current quarter, according to Zacks Investment Research. Ten analysts have issued estimates for Stryker’s earnings. The highest sales estimate is $3.62 billion and the lowest is $3.58 billion. Stryker posted sales of $3.32 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.4%. The firm is expected to report its next earnings report on Tuesday, July 23rd.
According to Zacks, analysts expect that Stryker will report full year sales of $14.80 billion for the current financial year, with estimates ranging from $14.73 billion to $14.86 billion. For the next financial year, analysts anticipate that the company will report sales of $15.80 billion, with estimates ranging from $15.63 billion to $15.91 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Stryker.
Stryker (NYSE:SYK) last released its quarterly earnings data on Tuesday, April 23rd. The medical technology company reported $1.88 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.84 by $0.04. Stryker had a return on equity of 26.72% and a net margin of 25.38%. The business had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.51 billion. During the same quarter in the prior year, the firm posted $1.68 EPS. The business’s quarterly revenue was up 8.5% compared to the same quarter last year.
Several equities research analysts have commented on the company. Deutsche Bank upped their price objective on Stryker from $181.00 to $208.00 and gave the stock a “buy” rating in a research report on Wednesday, April 24th. Zacks Investment Research lowered Stryker from a “buy” rating to a “hold” rating in a research report on Tuesday, May 21st. ValuEngine upgraded Stryker from a “hold” rating to a “buy” rating in a research report on Friday, May 3rd. Royal Bank of Canada upped their price objective on Stryker from $184.00 to $204.00 and gave the stock an “outperform” rating in a research report on Monday, March 11th. Finally, Oppenheimer upped their price objective on Stryker from $183.00 to $192.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 24th. Six investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $196.75.
Stryker stock traded down $1.31 during mid-day trading on Friday, hitting $195.47. The company had a trading volume of 744,814 shares, compared to its average volume of 1,314,257. The company has a current ratio of 2.12, a quick ratio of 1.30 and a debt-to-equity ratio of 0.68. Stryker has a 12-month low of $144.75 and a 12-month high of $199.85. The firm has a market cap of $73.55 billion, a PE ratio of 26.74, a P/E/G ratio of 2.40 and a beta of 0.81.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Stockholders of record on Friday, June 28th will be given a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, June 27th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.06%. Stryker’s dividend payout ratio (DPR) is 28.45%.
In other news, insider Timothy J. Scannell sold 4,666 shares of the stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $186.71, for a total transaction of $871,188.86. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Yin C. Becker sold 15,240 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were sold at an average price of $198.03, for a total value of $3,017,977.20. Following the transaction, the vice president now owns 16,577 shares in the company, valued at approximately $3,282,743.31. The disclosure for this sale can be found here. Insiders have sold a total of 82,303 shares of company stock worth $15,947,489 in the last quarter. Insiders own 7.20% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of SYK. ERTS Wealth Advisors LLC acquired a new position in Stryker in the 4th quarter valued at $25,000. Farmers National Bank purchased a new position in Stryker during the 1st quarter valued at about $25,000. Semmax Financial Advisors Inc. purchased a new position in Stryker during the 4th quarter valued at about $28,000. Truehand Inc purchased a new position in shares of Stryker in the 4th quarter valued at about $30,000. Finally, Cable Hill Partners LLC purchased a new position in shares of Stryker in the 1st quarter valued at about $30,000. 73.61% of the stock is owned by hedge funds and other institutional investors.
Stryker Company Profile
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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