Wall Street brokerages expect Stryker Co. (NYSE:SYK) to post earnings per share (EPS) of $1.37 for the current quarter, according to Zacks Investment Research. Ten analysts have issued estimates for Stryker’s earnings. The lowest EPS estimate is $1.08 and the highest is $1.50. Stryker posted earnings per share of $1.91 in the same quarter last year, which indicates a negative year over year growth rate of 28.3%. The business is expected to report its next earnings results after the market closes on Thursday, October 29th.
According to Zacks, analysts expect that Stryker will report full-year earnings of $6.29 per share for the current year, with EPS estimates ranging from $5.74 to $6.75. For the next financial year, analysts expect that the company will report earnings of $8.84 per share, with EPS estimates ranging from $7.69 to $9.27. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Stryker.
Stryker (NYSE:SYK) last posted its quarterly earnings data on Thursday, July 30th. The medical technology company reported $0.64 EPS for the quarter, topping the Zacks’ consensus estimate of $0.62 by $0.02. Stryker had a net margin of 11.38% and a return on equity of 20.53%. The company had revenue of $2.76 billion during the quarter, compared to the consensus estimate of $2.63 billion.
Several equities research analysts recently issued reports on SYK shares. Wells Fargo & Company raised their target price on shares of Stryker from $222.00 to $232.00 and gave the company an “overweight” rating in a research note on Monday, September 28th. SVB Leerink raised their target price on shares of Stryker from $215.00 to $225.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. Morgan Stanley raised their target price on shares of Stryker from $215.00 to $225.00 and gave the company an “overweight” rating in a research note on Friday, July 31st. Wolfe Research started coverage on shares of Stryker in a research note on Friday, September 11th. They issued a “market perform” rating and a $230.00 target price for the company. Finally, UBS Group raised their target price on shares of Stryker from $202.00 to $215.00 and gave the company a “neutral” rating in a research note on Friday, July 31st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $217.88.
In related news, CEO Kevin Lobo sold 25,855 shares of the stock in a transaction that occurred on Friday, July 31st. The shares were sold at an average price of $190.80, for a total transaction of $4,933,134.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 6.80% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of SYK. Evolution Wealth Advisors LLC boosted its position in shares of Stryker by 64.4% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 143 shares of the medical technology company’s stock worth $26,000 after acquiring an additional 56 shares in the last quarter. Balentine LLC acquired a new stake in shares of Stryker during the 1st quarter worth approximately $31,000. Demars Financial Group LLC acquired a new stake in shares of Stryker during the 2nd quarter worth approximately $32,000. NuWave Investment Management LLC acquired a new stake in shares of Stryker during the 2nd quarter worth approximately $35,000. Finally, Campbell Wealth Management acquired a new stake in shares of Stryker during the 2nd quarter worth approximately $45,000. Institutional investors and hedge funds own 71.02% of the company’s stock.
NYSE:SYK traded down $0.37 during mid-day trading on Monday, hitting $208.30. The stock had a trading volume of 966,300 shares, compared to its average volume of 1,787,215. Stryker has a twelve month low of $124.54 and a twelve month high of $226.30. The stock has a market cap of $78.08 billion, a price-to-earnings ratio of 49.48, a PEG ratio of 3.47 and a beta of 0.83. The company’s 50 day simple moving average is $198.99 and its 200 day simple moving average is $186.17. The company has a debt-to-equity ratio of 0.93, a quick ratio of 2.12 and a current ratio of 2.91.
The company also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Investors of record on Wednesday, September 30th will be given a dividend of $0.575 per share. The ex-dividend date of this dividend is Tuesday, September 29th. This represents a $2.30 annualized dividend and a dividend yield of 1.10%. Stryker’s dividend payout ratio is 27.85%.
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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