Brokerages Expect Stryker Co. (SYK) Will Announce Earnings of $1.60 Per Share

Equities analysts expect Stryker Co. (NYSE:SYK) to report earnings per share (EPS) of $1.60 for the current fiscal quarter, Zacks reports. Eleven analysts have provided estimates for Stryker’s earnings, with the lowest EPS estimate coming in at $1.58 and the highest estimate coming in at $1.64. Stryker reported earnings per share of $1.48 in the same quarter last year, which would indicate a positive year-over-year growth rate of 8.1%. The business is scheduled to announce its next quarterly earnings report on Tuesday, April 24th.

According to Zacks, analysts expect that Stryker will report full year earnings of $7.12 per share for the current financial year, with EPS estimates ranging from $7.08 to $7.17. For the next fiscal year, analysts forecast that the company will post earnings of $7.82 per share, with EPS estimates ranging from $7.69 to $7.95. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that follow Stryker.

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Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $1.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.95 by $0.01. Stryker had a net margin of 8.20% and a return on equity of 24.56%. The business had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.42 billion. During the same period last year, the company posted $1.78 EPS. The company’s revenue was up 9.9% on a year-over-year basis.

Several analysts have commented on SYK shares. ValuEngine cut shares of Stryker from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Stryker in a research note on Thursday, December 7th. BMO Capital Markets raised shares of Stryker to a “market perform” rating and set a $163.00 target price for the company in a research note on Tuesday, December 12th. JPMorgan Chase & Co. raised shares of Stryker from a “neutral” rating to an “overweight” rating in a research note on Tuesday, January 2nd. Finally, Wells Fargo reaffirmed an “outperform” rating and issued a $174.00 target price (up from $166.00) on shares of Stryker in a research note on Tuesday, January 2nd. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $164.76.

Stryker (SYK) traded up $1.38 during mid-day trading on Monday, reaching $158.95. 216,593 shares of the company’s stock traded hands, compared to its average volume of 1,325,477. The stock has a market cap of $59,032.34, a PE ratio of 59.30, a P/E/G ratio of 2.27 and a beta of 0.70. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.29 and a quick ratio of 1.59. Stryker has a 12-month low of $129.82 and a 12-month high of $170.00.

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Investors of record on Thursday, March 29th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $1.88 annualized dividend and a dividend yield of 1.18%. Stryker’s payout ratio is 70.15%.

In related news, insider David Floyd sold 55,119 shares of Stryker stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $166.58, for a total transaction of $9,181,723.02. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP William E. Berry, Jr. sold 1,306 shares of Stryker stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $164.42, for a total transaction of $214,732.52. The disclosure for this sale can be found here. Insiders have sold a total of 142,386 shares of company stock worth $23,472,005 in the last 90 days. Company insiders own 7.40% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its stake in Stryker by 2.8% during the 4th quarter. Geode Capital Management LLC now owns 3,159,538 shares of the medical technology company’s stock worth $488,110,000 after buying an additional 85,614 shares during the period. Jensen Investment Management Inc. increased its stake in Stryker by 0.3% during the 4th quarter. Jensen Investment Management Inc. now owns 2,478,958 shares of the medical technology company’s stock worth $383,842,000 after buying an additional 6,482 shares during the period. Lazard Asset Management LLC increased its stake in Stryker by 15.5% during the 4th quarter. Lazard Asset Management LLC now owns 2,208,379 shares of the medical technology company’s stock worth $341,945,000 after buying an additional 296,550 shares during the period. Legal & General Group Plc increased its stake in Stryker by 2.8% during the 3rd quarter. Legal & General Group Plc now owns 1,805,572 shares of the medical technology company’s stock worth $256,393,000 after buying an additional 49,143 shares during the period. Finally, Wells Fargo & Company MN increased its position in shares of Stryker by 4.8% in the 3rd quarter. Wells Fargo & Company MN now owns 1,742,959 shares of the medical technology company’s stock worth $247,536,000 after purchasing an additional 79,551 shares during the last quarter. 75.71% of the stock is currently owned by hedge funds and other institutional investors.

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About Stryker

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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