Brokerages predict that Stryker Co. (NYSE:SYK) will report sales of $3.20 billion for the current quarter, according to Zacks Investment Research. Eleven analysts have provided estimates for Stryker’s earnings, with the lowest sales estimate coming in at $3.15 billion and the highest estimate coming in at $3.24 billion. Stryker reported sales of $2.96 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 8.1%. The business is scheduled to issue its next earnings report after the market closes on Thursday, April 26th.
According to Zacks, analysts expect that Stryker will report full year sales of $3.20 billion for the current fiscal year, with estimates ranging from $13.32 billion to $13.67 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $14.40 billion per share, with estimates ranging from $14.22 billion to $14.56 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Stryker.
Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $1.96 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.95 by $0.01. Stryker had a return on equity of 24.56% and a net margin of 8.20%. The business had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.42 billion. During the same quarter in the prior year, the business earned $1.78 earnings per share. The company’s quarterly revenue was up 9.9% compared to the same quarter last year.
SYK has been the subject of several research analyst reports. Evercore ISI initiated coverage on Stryker in a research report on Monday. They issued a $165.00 price objective for the company. Royal Bank of Canada reiterated a “buy” rating and issued a $175.00 price objective on shares of Stryker in a research report on Tuesday, January 9th. SunTrust Banks reiterated a “buy” rating and issued a $179.00 price objective (up previously from $161.00) on shares of Stryker in a research report on Friday, January 26th. Guggenheim reiterated a “buy” rating on shares of Stryker in a research report on Wednesday, January 31st. Finally, Piper Jaffray reiterated a “buy” rating and issued a $170.00 price objective on shares of Stryker in a research report on Wednesday, January 31st. Two analysts have rated the stock with a sell rating, eight have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $164.77.
NYSE:SYK traded down $4.67 during trading hours on Wednesday, hitting $156.25. The company’s stock had a trading volume of 1,237,362 shares, compared to its average volume of 1,335,230. The stock has a market capitalization of $60,287.39, a price-to-earnings ratio of 24.08, a PEG ratio of 2.31 and a beta of 0.70. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.59 and a current ratio of 2.29. Stryker has a 52-week low of $129.82 and a 52-week high of $170.00.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 30th. Shareholders of record on Thursday, March 29th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Wednesday, March 28th. Stryker’s dividend payout ratio (DPR) is 28.97%.
In related news, Director Howard E. Cox, Jr. sold 7,400 shares of the stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $164.09, for a total transaction of $1,214,266.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Kevin Lobo sold 39,808 shares of the stock in a transaction on Thursday, March 22nd. The shares were sold at an average price of $162.90, for a total value of $6,484,723.20. The disclosure for this sale can be found here. Insiders sold 142,489 shares of company stock worth $23,488,485 in the last three months. 7.30% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of SYK. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of Stryker during the fourth quarter valued at $49,056,000. Elkfork Partners LLC acquired a new stake in shares of Stryker during the fourth quarter valued at $49,005,000. Lazard Asset Management LLC boosted its stake in shares of Stryker by 15.5% during the fourth quarter. Lazard Asset Management LLC now owns 2,208,379 shares of the medical technology company’s stock valued at $341,945,000 after acquiring an additional 296,550 shares during the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Stryker during the fourth quarter valued at $32,421,000. Finally, Janus Henderson Group PLC boosted its stake in shares of Stryker by 19.2% during the third quarter. Janus Henderson Group PLC now owns 1,214,733 shares of the medical technology company’s stock valued at $172,517,000 after acquiring an additional 195,479 shares during the last quarter. 75.71% of the stock is currently owned by institutional investors and hedge funds.
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Stryker Company Profile
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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