Wall Street analysts expect Stryker Corporation (NYSE:SYK) to post $2.97 billion in sales for the current fiscal quarter, according to Zacks. Ten analysts have provided estimates for Stryker Corporation’s earnings, with the highest sales estimate coming in at $3.00 billion and the lowest estimate coming in at $2.95 billion. Stryker Corporation posted sales of $2.83 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 4.9%. The firm is expected to announce its next earnings report on Thursday, October 26th.
On average, analysts expect that Stryker Corporation will report full year sales of $2.97 billion for the current year, with estimates ranging from $12.23 billion to $12.34 billion. For the next financial year, analysts expect that the company will report sales of $13.13 billion per share, with estimates ranging from $12.96 billion to $13.24 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that follow Stryker Corporation.
Stryker Corporation (NYSE:SYK) last issued its earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.02. The business had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.98 billion. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.39 EPS.
SYK has been the topic of several research analyst reports. Goldman Sachs Group, Inc. (The) initiated coverage on shares of Stryker Corporation in a research report on Tuesday, May 16th. They issued a “neutral” rating and a $129.00 price target on the stock. Citigroup Inc. raised their price target on shares of Stryker Corporation from $114.00 to $125.00 and gave the stock a “sell” rating in a research report on Friday, June 9th. BidaskClub lowered shares of Stryker Corporation from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, June 13th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Stryker Corporation in a research report on Monday, June 19th. Finally, Morgan Stanley raised their price target on shares of Stryker Corporation from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Wednesday, June 21st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $145.73.
In other Stryker Corporation news, insider David Floyd sold 19,305 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $144.56, for a total value of $2,790,730.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Lonny J. Carpenter sold 5,000 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $146.36, for a total transaction of $731,800.00. Following the completion of the sale, the insider now owns 88,207 shares of the company’s stock, valued at approximately $12,909,976.52. The disclosure for this sale can be found here. Insiders have sold a total of 25,429 shares of company stock valued at $3,686,927 over the last three months. 7.40% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of SYK. Reynders McVeigh Capital Management LLC increased its position in Stryker Corporation by 105.1% in the 1st quarter. Reynders McVeigh Capital Management LLC now owns 40,720 shares of the medical technology company’s stock valued at $5,361,000 after acquiring an additional 20,865 shares in the last quarter. Dowling & Yahnke LLC increased its position in Stryker Corporation by 0.3% in the 1st quarter. Dowling & Yahnke LLC now owns 11,778 shares of the medical technology company’s stock valued at $1,551,000 after acquiring an additional 35 shares in the last quarter. Wetherby Asset Management Inc. increased its position in Stryker Corporation by 2.7% in the 1st quarter. Wetherby Asset Management Inc. now owns 6,718 shares of the medical technology company’s stock valued at $884,000 after acquiring an additional 178 shares in the last quarter. Sumitomo Mitsui Asset Management Company LTD increased its position in Stryker Corporation by 9.6% in the 1st quarter. Sumitomo Mitsui Asset Management Company LTD now owns 27,668 shares of the medical technology company’s stock valued at $3,642,000 after acquiring an additional 2,429 shares in the last quarter. Finally, LaFleur & Godfrey LLC acquired a new stake in Stryker Corporation in the 1st quarter valued at about $12,739,000. Hedge funds and other institutional investors own 74.18% of the company’s stock.
Shares of Stryker Corporation (SYK) opened at 143.53 on Wednesday. The firm has a market cap of $53.69 billion, a price-to-earnings ratio of 32.04 and a beta of 0.81. Stryker Corporation has a 52 week low of $106.48 and a 52 week high of $148.84. The stock has a 50 day moving average of $143.99 and a 200-day moving average of $138.37.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be issued a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a yield of 1.18%. The ex-dividend date is Thursday, September 28th. Stryker Corporation’s dividend payout ratio is currently 37.95%.
About Stryker Corporation
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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