Stryker Corporation Expected to Earn FY2021 Earnings of $9.45 Per Share (SYK)
Stryker Corporation (NYSE:SYK) – Research analysts at Gabelli lowered their FY2021 earnings per share estimates for shares of Stryker in a research report issued to clients and investors on Thursday. Gabelli analyst J. Tsai now expects that the medical technology company will post earnings per share of $9.45 for the year, down from their prior estimate of $9.50.
Other equities analysts also recently issued reports about the stock. Wells Fargo & Co upped their price target on shares of Stryker from $160.00 to $166.00 in a research note on Friday, October 27th. ValuEngine raised shares of Stryker from a “hold” rating to a “buy” rating in a research note on Tuesday, November 14th. Canaccord Genuity upped their price target on shares of Stryker from $155.00 to $162.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Stifel Nicolaus upped their price target on shares of Stryker from $158.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Finally, Cowen set a $166.00 price target on shares of Stryker and gave the stock a “buy” rating in a research note on Sunday, October 29th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $162.50.
Stryker (NYSE:SYK) last announced its earnings results on Tuesday, January 30th. The medical technology company reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.01. Stryker had a net margin of 8.20% and a return on equity of 24.55%. The company had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.42 billion. During the same period in the previous year, the business earned $1.78 EPS. The company’s revenue was up 9.9% on a year-over-year basis.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SYK. Bahl & Gaynor Inc. lifted its stake in shares of Stryker by 9.4% in the second quarter. Bahl & Gaynor Inc. now owns 697,086 shares of the medical technology company’s stock valued at $83,518,000 after buying an additional 59,838 shares during the period. Bruderman Asset Management LLC bought a new stake in shares of Stryker in the second quarter valued at about $150,000. BlackRock Inc. lifted its stake in shares of Stryker by 5.2% in the second quarter. BlackRock Inc. now owns 23,115,853 shares of the medical technology company’s stock valued at $3,208,017,000 after buying an additional 1,139,082 shares during the period. Amalgamated Bank lifted its stake in shares of Stryker by 58.1% in the second quarter. Amalgamated Bank now owns 39,665 shares of the medical technology company’s stock valued at $5,505,000 after buying an additional 14,572 shares during the period. Finally, BT Investment Management Ltd bought a new stake in shares of Stryker in the second quarter valued at about $237,000. Institutional investors and hedge funds own 74.85% of the company’s stock.
In other Stryker news, VP William E. Berry, Jr. sold 1,306 shares of the company’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $164.42, for a total transaction of $214,732.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Lonny J. Carpenter sold 5,000 shares of the company’s stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $163.76, for a total transaction of $818,800.00. Following the sale, the insider now owns 94,253 shares of the company’s stock, valued at $15,434,871.28. The disclosure for this sale can be found here. Insiders have sold 13,856 shares of company stock worth $2,270,968 over the last three months. Company insiders own 7.40% of the company’s stock.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th were given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 1.22%. This is an increase from Stryker’s previous quarterly dividend of $0.43. The ex-dividend date was Thursday, December 28th. Stryker’s dividend payout ratio is presently 70.15%.
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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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