Stryker Co. (NYSE:SYK) – Research analysts at SunTrust Banks boosted their Q2 2018 earnings estimates for Stryker in a research report issued to clients and investors on Wednesday, July 18th. SunTrust Banks analyst B. Nudell now anticipates that the medical technology company will post earnings per share of $1.73 for the quarter, up from their prior forecast of $1.72. SunTrust Banks also issued estimates for Stryker’s Q4 2018 earnings at $2.13 EPS, Q2 2019 earnings at $1.88 EPS and Q4 2019 earnings at $2.35 EPS.
Several other research firms have also weighed in on SYK. ValuEngine upgraded Stryker from a “hold” rating to a “buy” rating in a report on Tuesday, June 26th. Zacks Investment Research lowered Stryker from a “buy” rating to a “hold” rating in a report on Thursday, May 24th. Cantor Fitzgerald restated a “hold” rating and set a $170.00 target price on shares of Stryker in a report on Wednesday, June 13th. BMO Capital Markets raised their target price on Stryker to $170.00 and gave the company a “market perform” rating in a report on Friday, April 27th. They noted that the move was a valuation call. Finally, Stifel Nicolaus raised their target price on Stryker from $183.00 to $187.00 and gave the company a “buy” rating in a report on Friday, April 27th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $174.15.
Stryker (NYSE:SYK) last posted its earnings results on Thursday, April 26th. The medical technology company reported $1.68 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.60 by $0.08. Stryker had a return on equity of 25.65% and a net margin of 8.00%. The company had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.20 billion. During the same period last year, the company earned $1.48 earnings per share. The business’s revenue was up 9.7% compared to the same quarter last year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 31st. Stockholders of record on Friday, June 29th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Thursday, June 28th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.09%. Stryker’s payout ratio is presently 28.97%.
In other news, insider Lonny J. Carpenter sold 5,000 shares of Stryker stock in a transaction dated Friday, May 4th. The stock was sold at an average price of $166.42, for a total value of $832,100.00. Following the transaction, the insider now directly owns 101,675 shares in the company, valued at $16,920,753.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 7.40% of the company’s stock.
Several institutional investors have recently bought and sold shares of SYK. AustralianSuper Pty Ltd bought a new position in shares of Stryker in the first quarter worth about $133,467,000. BlackRock Inc. increased its stake in Stryker by 2.0% during the first quarter. BlackRock Inc. now owns 23,905,172 shares of the medical technology company’s stock valued at $3,846,819,000 after acquiring an additional 458,485 shares during the period. WCM Investment Management CA bought a new position in Stryker during the first quarter valued at about $70,349,000. Carmignac Gestion increased its stake in Stryker by 36.6% during the first quarter. Carmignac Gestion now owns 1,599,867 shares of the medical technology company’s stock valued at $257,451,000 after acquiring an additional 428,789 shares during the period. Finally, Elkfork Partners LLC bought a new position in Stryker during the fourth quarter valued at about $49,005,000. Institutional investors and hedge funds own 74.95% of the company’s stock.
Stryker Company Profile
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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