Stryker Corporation (SYK) Expected to Announce Quarterly Sales of $2.97 Billion
Equities research analysts expect Stryker Corporation (NYSE:SYK) to report $2.97 billion in sales for the current quarter, Zacks reports. Ten analysts have provided estimates for Stryker Corporation’s earnings. The lowest sales estimate is $2.95 billion and the highest is $3.00 billion. Stryker Corporation posted sales of $2.83 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 4.9%. The business is scheduled to issue its next earnings results after the market closes on Thursday, October 26th.
According to Zacks, analysts expect that Stryker Corporation will report full-year sales of $2.97 billion for the current financial year, with estimates ranging from $12.23 billion to $12.34 billion. For the next year, analysts expect that the company will report sales of $13.14 billion per share, with estimates ranging from $12.96 billion to $13.24 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research firms that follow Stryker Corporation.
Stryker Corporation (NYSE:SYK) last released its quarterly earnings data on Thursday, July 27th. The medical technology company reported $1.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.02. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. The firm had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same period last year, the business earned $1.39 earnings per share. Stryker Corporation’s revenue was up 6.1% compared to the same quarter last year.
Several analysts have recently issued reports on SYK shares. SunTrust Banks, Inc. restated a “buy” rating and issued a $161.00 price objective on shares of Stryker Corporation in a research report on Monday. Royal Bank Of Canada reaffirmed a “buy” rating and set a $155.00 price objective on shares of Stryker Corporation in a research note on Friday, September 1st. Argus reiterated a “buy” rating and set a $160.00 price objective on shares of Stryker Corporation in a research report on Tuesday, August 29th. BidaskClub cut Stryker Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, August 26th. Finally, Needham & Company LLC raised shares of Stryker Corporation from an “underperform” rating to a “hold” rating in a research note on Friday, August 25th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. Stryker Corporation currently has an average rating of “Hold” and a consensus price target of $146.78.
In related news, insider Graham A. Mclean sold 1,124 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $146.26, for a total transaction of $164,396.24. Following the completion of the sale, the insider now directly owns 8,983 shares of the company’s stock, valued at approximately $1,313,853.58. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David Floyd sold 19,305 shares of the company’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $144.56, for a total transaction of $2,790,730.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 25,429 shares of company stock worth $3,686,927. 7.40% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of SYK. Acrospire Investment Management LLC purchased a new stake in shares of Stryker Corporation during the 2nd quarter valued at about $111,000. Bollard Group LLC lifted its position in Stryker Corporation by 0.4% during the 2nd quarter. Bollard Group LLC now owns 832 shares of the medical technology company’s stock worth $115,000 after acquiring an additional 3 shares in the last quarter. Motco lifted its position in Stryker Corporation by 50.7% during the 2nd quarter. Motco now owns 826 shares of the medical technology company’s stock worth $115,000 after acquiring an additional 278 shares in the last quarter. Bruderman Asset Management LLC acquired a new position in Stryker Corporation during the 2nd quarter worth approximately $150,000. Finally, James Investment Research Inc. acquired a new position in Stryker Corporation during the 2nd quarter worth approximately $155,000. 74.13% of the stock is owned by institutional investors.
Stryker Corporation (SYK) opened at 142.02 on Monday. The firm has a 50-day moving average of $143.56 and a 200 day moving average of $138.98. The firm has a market capitalization of $53.12 billion, a price-to-earnings ratio of 31.70 and a beta of 0.81. Stryker Corporation has a 12-month low of $106.48 and a 12-month high of $148.84.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be given a dividend of $0.425 per share. This represents a $1.70 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date is Thursday, September 28th. Stryker Corporation’s dividend payout ratio (DPR) is presently 37.95%.
Stryker Corporation 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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