Stryker (SYK) Updates FY17 Earnings Guidance
Stryker (NYSE:SYK) updated its FY17 earnings guidance on Tuesday. The company provided earnings per share guidance of $6.45-6.50 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $6.48. The company issued revenue guidance of $12.4 billion, compared to the consensus revenue estimate of $12.37 billion.
A number of research analysts have issued reports on the stock. Piper Jaffray Companies increased their target price on shares of Stryker to $166.00 and gave the company an overweight rating in a report on Tuesday. Royal Bank of Canada reaffirmed a buy rating and issued a $175.00 target price on shares of Stryker in a report on Tuesday. Cowen set a $166.00 target price on shares of Stryker and gave the company a buy rating in a report on Sunday, October 29th. Cantor Fitzgerald reaffirmed a neutral rating and issued a $163.00 target price on shares of Stryker in a report on Friday, January 5th. Finally, Needham & Company LLC reaffirmed a hold rating on shares of Stryker in a report on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus target price of $156.60.
Stryker (NYSE:SYK) opened at $160.78 on Wednesday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.61 and a current ratio of 2.37. Stryker has a 12 month low of $119.05 and a 12 month high of $164.20. The firm has a market cap of $60,170.00, a P/E ratio of 34.28, a PEG ratio of 2.30 and a beta of 0.78.
Stryker (NYSE:SYK) last released its earnings results on Thursday, October 26th. The medical technology company reported $1.52 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.50 by $0.02. The firm had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.97 billion. Stryker had a net margin of 14.67% and a return on equity of 24.11%. Stryker’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.39 EPS. research analysts predict that Stryker will post 6.47 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be paid a $0.47 dividend. This is a boost from Stryker’s previous quarterly dividend of $0.43. This represents a $1.88 annualized dividend and a yield of 1.17%. The ex-dividend date is Thursday, December 28th. Stryker’s payout ratio is presently 40.09%.
In other Stryker news, insider Lonny J. Carpenter sold 5,000 shares of Stryker 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 completion of the sale, the insider now directly owns 83,207 shares of the company’s stock, valued at approximately $12,925,375.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 7.40% of the stock is currently owned by insiders.
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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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