Q2 2018 EPS Estimates for Stryker Corporation (SYK) Cut by Northcoast Research
Stryker Corporation (NYSE:SYK) – Investment analysts at Northcoast Research reduced their Q2 2018 earnings estimates for shares of Stryker in a research report issued to clients and investors on Friday. Northcoast Research analyst D. Keiser now expects that the medical technology company will post earnings of $1.68 per share for the quarter, down from their prior estimate of $1.69.
A number of other brokerages also recently issued reports on SYK. Robert W. Baird upgraded shares of Stryker from a “neutral” rating to an “outperform” rating and increased their price target for the company from $161.00 to $173.00 in a report on Thursday, November 16th. SunTrust Banks reiterated a “buy” rating and issued a $161.00 price target on shares of Stryker in a report on Friday, November 17th. Wells Fargo & Co increased their price target on shares of Stryker from $160.00 to $166.00 in a report on Friday, October 27th. Barclays increased their price target on shares of Stryker from $137.00 to $148.00 and gave the company an “underweight” rating in a report on Friday, October 27th. Finally, Zacks Investment Research raised shares of Stryker from a “sell” rating to a “hold” rating in a research note on Tuesday, October 24th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $155.10.
Shares of Stryker (NYSE SYK) traded up $2.20 on Monday, hitting $163.26. 1,240,200 shares of the stock were exchanged, compared to its average volume of 1,104,940. The company has a debt-to-equity ratio of 0.63, a current ratio of 2.37 and a quick ratio of 1.61. The stock has a market cap of $60,100.00, a P/E ratio of 34.81, a PEG ratio of 2.30 and a beta of 0.78. Stryker has a 1-year low of $117.64 and a 1-year high of $163.74.
Stryker (NYSE:SYK) last announced its quarterly earnings data on Thursday, October 26th. The medical technology company reported $1.52 EPS for the quarter, topping the Zacks’ consensus estimate of $1.50 by $0.02. The company had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.97 billion. Stryker had a net margin of 14.67% and a return on equity of 24.11%. Stryker’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.39 EPS.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Acrospire Investment Management LLC bought a new stake in shares of Stryker in the second quarter worth $111,000. Motco increased its stake in shares of Stryker by 50.7% in the second quarter. Motco now owns 826 shares of the medical technology company’s stock worth $115,000 after buying an additional 278 shares during the last quarter. San Francisco Sentry Investment Group CA increased its stake in shares of Stryker by 47.8% in the third quarter. San Francisco Sentry Investment Group CA now owns 1,005 shares of the medical technology company’s stock worth $143,000 after buying an additional 325 shares during the last quarter. Oak Point Wealth Management bought a new stake in shares of Stryker in the fourth quarter worth $145,000. Finally, Bruderman Asset Management LLC bought a new stake in shares of Stryker in the second quarter worth $150,000. Hedge funds and other institutional investors own 74.90% of the company’s stock.
In related news, insider Lonny J. Carpenter sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $155.34, for a total value of $776,700.00. Following the sale, the insider now directly owns 83,207 shares of the company’s stock, valued at $12,925,375.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.40% of the stock is currently owned by company insiders.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Investors of record on Friday, December 29th will be given a $0.47 dividend. The ex-dividend date is Thursday, December 28th. This is a boost from Stryker’s previous quarterly dividend of $0.43. This represents a $1.88 annualized dividend and a dividend yield of 1.15%. Stryker’s dividend payout ratio (DPR) is currently 40.09%.
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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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