Stryker Corp. (NYSE:SYK) – Equities research analysts at SunTrust Banks issued their Q3 2016 earnings per share (EPS) estimates for shares of Stryker Corp. in a research note issued to investors on Thursday. SunTrust Banks analyst B. Nudell anticipates that the brokerage will post earnings per share of $1.38 for the quarter. SunTrust Banks has a “Buy” rating and a $140.00 price objective on the stock. SunTrust Banks also issued estimates for Stryker Corp.’s Q4 2016 earnings at $1.75 EPS, Q1 2017 earnings at $1.50 EPS, Q2 2017 earnings at $1.52 EPS, Q3 2017 earnings at $1.53 EPS, Q4 2017 earnings at $1.91 EPS, FY2018 earnings at $6.93 EPS, FY2019 earnings at $7.65 EPS and FY2020 earnings at $8.41 EPS.
Stryker Corp. (NYSE:SYK) last released its quarterly earnings data on Thursday, July 21st. The medical technology company reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.37 by $0.02. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.79 billion. Stryker Corp. had a net margin of 15.33% and a return on equity of 23.61%.
Several other equities research analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Stryker Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, September 27th. Needham & Company LLC restated a “hold” rating on shares of Stryker Corp. in a report on Sunday, July 24th. Piper Jaffray Cos. raised their price target on shares of Stryker Corp. from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Friday, July 22nd. Brean Capital restated a “buy” rating and issued a $125.00 price target (up from $121.00) on shares of Stryker Corp. in a report on Monday, July 25th. Finally, Canaccord Genuity restated a “buy” rating and issued a $130.00 price target on shares of Stryker Corp. in a report on Sunday, July 24th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. Stryker Corp. currently has a consensus rating of “Hold” and a consensus target price of $117.91.
Stryker Corp. (NYSE:SYK) opened at 114.81 on Monday. The stock’s 50 day moving average is $115.16 and its 200 day moving average is $114.30. Stryker Corp. has a 1-year low of $86.68 and a 1-year high of $123.55. The firm has a market capitalization of $42.97 billion, a price-to-earnings ratio of 27.07 and a beta of 0.72.
Several hedge funds have recently added to or reduced their stakes in SYK. LSV Asset Management purchased a new stake in Stryker Corp. during the second quarter valued at $107,000. Global X Management Co. LLC raised its position in Stryker Corp. by 235.8% in the second quarter. Global X Management Co. LLC now owns 994 shares of the medical technology company’s stock valued at $119,000 after buying an additional 698 shares during the period. Carroll Financial Associates Inc. raised its position in Stryker Corp. by 78.0% in the second quarter. Carroll Financial Associates Inc. now owns 1,086 shares of the medical technology company’s stock valued at $130,000 after buying an additional 476 shares during the period. CWM LLC bought a new position in Stryker Corp. during the second quarter valued at about $150,000. Finally, Daiwa SB Investments Ltd. bought a new position in Stryker Corp. during the third quarter valued at about $163,000. Hedge funds and other institutional investors own 75.50% of the company’s stock.
In related news, Director Ronda E. Stryker sold 18,000 shares of Stryker Corp. stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $117.56, for a total value of $2,116,080.00. Following the completion of the sale, the director now directly owns 193,142 shares in the company, valued at $22,705,773.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Yin C. Becker sold 1,111 shares of Stryker Corp. stock in a transaction dated Thursday, October 6th. The shares were sold at an average price of $117.00, for a total value of $129,987.00. Following the completion of the sale, the vice president now owns 16,939 shares of the company’s stock, valued at $1,981,863. The disclosure for this sale can be found here. 7.80% of the stock is owned by corporate insiders.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be issued a $0.38 dividend. The ex-dividend date is Wednesday, September 28th. This represents a $1.52 annualized dividend and a dividend yield of 1.32%. Stryker Corp.’s payout ratio is currently 35.85%.
About Stryker Corp.
Stryker Corporation (Stryker) is a medical technology company. The Company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Company’s Orthopaedics segment products consist of implants used in hip and knee joint replacements and trauma and surgeries. The Company’s MedSurg segment products consist of surgical equipment and surgical navigation systems (Instruments); endoscopic and communications systems (Endoscopy); patient handling and emergency medical equipment (Medical), and reprocessed and remanufactured medical devices (Sustainability), as well as other medical device products used in a range of medical specialties.
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