Wall Street analysts expect Stryker Co. (NYSE:SYK) to report $3.37 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Ten analysts have made estimates for Stryker’s earnings. The lowest sales estimate is $3.20 billion and the highest is $3.48 billion. Stryker reported sales of $3.59 billion during the same quarter last year, which indicates a negative year over year growth rate of 6.1%. The company is expected to issue its next earnings report after the market closes on Thursday, October 29th.
On average, analysts expect that Stryker will report full-year sales of $13.96 billion for the current year, with estimates ranging from $13.61 billion to $14.23 billion. For the next fiscal year, analysts expect that the business will post sales of $15.98 billion, with estimates ranging from $14.91 billion to $16.34 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that cover Stryker.
Stryker (NYSE:SYK) last issued its earnings results on Thursday, July 30th. The medical technology company reported $0.64 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.02. The firm had revenue of $2.76 billion during the quarter, compared to analyst estimates of $2.63 billion. Stryker had a net margin of 11.38% and a return on equity of 20.53%.
SYK has been the subject of a number of recent analyst reports. Credit Suisse Group boosted their target price on shares of Stryker from $237.00 to $243.00 and gave the company an “outperform” rating in a research note on Friday, July 31st. SVB Leerink lifted their price objective on Stryker from $215.00 to $225.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Citigroup lifted their price objective on Stryker from $227.00 to $232.00 and gave the company a “buy” rating in a report on Friday, July 31st. Oppenheimer restated a “hold” rating and issued a $215.00 price objective on shares of Stryker in a report on Friday, July 31st. Finally, Morgan Stanley lifted their price objective on Stryker from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, July 31st. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average price target of $217.88.
Shares of SYK traded down $0.37 during trading hours on Wednesday, reaching $208.30. 966,300 shares of the company traded hands, compared to its average volume of 1,787,215. The firm 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. Stryker has a 12-month low of $124.54 and a 12-month high of $226.30. The company has a current ratio of 2.91, a quick ratio of 2.12 and a debt-to-equity ratio of 0.93. The stock’s fifty day moving average price is $198.99 and its 200 day moving average price is $186.17.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.575 per share. The ex-dividend date is Tuesday, September 29th. This represents a $2.30 dividend on an annualized basis and a dividend yield of 1.10%. Stryker’s payout ratio is 27.85%.
In other news, CEO Kevin Lobo sold 25,855 shares of the business’s stock in a transaction dated Friday, July 31st. The stock was sold at an average price of $190.80, for a total transaction of $4,933,134.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.80% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of SYK. Evolution Wealth Advisors LLC boosted its position in Stryker by 64.4% in the second quarter. Evolution Wealth Advisors LLC now owns 143 shares of the medical technology company’s stock valued at $26,000 after buying an additional 56 shares during the last quarter. Balentine LLC purchased a new stake in Stryker in the first quarter valued at approximately $31,000. Demars Financial Group LLC purchased a new stake in Stryker in the second quarter valued at approximately $32,000. NuWave Investment Management LLC purchased a new stake in Stryker in the second quarter valued at approximately $35,000. Finally, Campbell Wealth Management purchased a new stake in Stryker in the second quarter valued at approximately $45,000. Institutional investors and hedge funds own 71.02% of the company’s stock.
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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