Analysts Set Expectations for Stryker Co.’s Q4 2017 Earnings (SYK)
Stryker Co. (NYSE:SYK) – Research analysts at Northcoast Research lifted their Q4 2017 earnings estimates for Stryker in a note issued to investors on Monday. Northcoast Research analyst D. Keiser now expects that the medical technology company will post earnings per share of $1.97 for the quarter, up from their previous estimate of $1.94. Northcoast Research also issued estimates for Stryker’s Q2 2018 earnings at $1.69 EPS.
Stryker (NYSE:SYK) last posted its earnings results on Thursday, July 27th. The medical technology company reported $1.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.02. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.98 billion. Stryker had a return on equity of 15.89% and a net margin of 12.98%. Stryker’s revenue was up 6.1% on a year-over-year basis. During the same quarter last year, the company earned $1.39 EPS. TRADEMARK VIOLATION NOTICE: “Analysts Set Expectations for Stryker Co.’s Q4 2017 Earnings (SYK)” was first published by Watch List News and is owned by of Watch List News. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of United States & international trademark & copyright laws. The original version of this piece can be accessed at https://www.watchlistnews.com/analysts-set-expectations-for-stryker-co-s-q4-2017-earnings-syk/1641179.html.
SYK has been the subject of several other reports. SunTrust Banks, Inc. reiterated a “buy” rating and issued a $161.00 price target on shares of Stryker in a research note on Monday, October 2nd. Stifel Nicolaus upped their target price on Stryker from $151.00 to $158.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. BidaskClub cut Stryker from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Zacks Investment Research cut Stryker from a “hold” rating to a “sell” rating in a research note on Monday. Finally, Canaccord Genuity restated a “buy” rating and set a $155.00 target price (down from $158.00) on shares of Stryker in a research note on Thursday, August 24th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $146.78.
Stryker (NYSE:SYK) traded down 0.151% during trading on Wednesday, hitting $148.415. The company had a trading volume of 225,975 shares. The stock has a 50-day moving average of $143.70 and a 200 day moving average of $140.89. The company has a market capitalization of $55.52 billion, a price-to-earnings ratio of 33.128 and a beta of 0.80. Stryker has a one year low of $106.48 and a one year high of $150.00.
A number of hedge funds and other institutional investors have recently bought and sold shares of SYK. BlackRock Inc. increased its holdings in Stryker by 2,526.4% in the first quarter. BlackRock Inc. now owns 21,976,771 shares of the medical technology company’s stock valued at $2,893,242,000 after purchasing an additional 21,140,000 shares during the period. Koch Industries Inc. increased its holdings in Stryker by 34,120.3% in the second quarter. Koch Industries Inc. now owns 1,260,675 shares of the medical technology company’s stock valued at $1,252,000 after purchasing an additional 1,256,991 shares during the period. Vanguard Group Inc. increased its holdings in Stryker by 5.2% in the first quarter. Vanguard Group Inc. now owns 23,421,053 shares of the medical technology company’s stock valued at $3,083,382,000 after purchasing an additional 1,161,688 shares during the period. Janus Henderson Group PLC increased its holdings in Stryker by 2,237.8% in the second quarter. Janus Henderson Group PLC now owns 1,019,254 shares of the medical technology company’s stock valued at $141,452,000 after purchasing an additional 975,656 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in Stryker by 41.9% in the first quarter. PNC Financial Services Group Inc. now owns 1,403,420 shares of the medical technology company’s stock valued at $184,759,000 after purchasing an additional 414,715 shares during the period. Institutional investors and hedge funds own 74.10% of the company’s stock.
In related news, insider Graham A. Mclean sold 1,124 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $146.26, for a total value of $164,396.24. Following the completion of the sale, the insider now directly owns 8,983 shares in the company, valued at $1,313,853.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Lonny J. Carpenter sold 5,000 shares of the stock in a transaction on Friday, August 4th. The shares were sold at an average price of $146.36, for a total value of $731,800.00. Following the completion of the sale, the insider now owns 88,207 shares of the company’s stock, valued at $12,909,976.52. The disclosure for this sale can be found here. Corporate insiders own 7.40% of the company’s stock.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be issued a $0.425 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.70 dividend on an annualized basis and a yield of 1.14%. Stryker’s payout ratio is 37.95%.
Stryker Company Profile
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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