Stryker Co. (NYSE:SYK) – Jefferies Financial Group boosted their FY2018 earnings per share (EPS) estimates for Stryker in a note issued to investors on Friday, October 26th, according to Zacks Investment Research. Jefferies Financial Group analyst R. Denhoy now forecasts that the medical technology company will post earnings of $7.28 per share for the year, up from their prior forecast of $7.23. Jefferies Financial Group also issued estimates for Stryker’s Q1 2019 earnings at $1.91 EPS, Q2 2019 earnings at $1.97 EPS, Q3 2019 earnings at $1.91 EPS, Q4 2019 earnings at $2.24 EPS and FY2021 earnings at $9.52 EPS.
Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, October 25th. The medical technology company reported $1.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.68 by $0.01. Stryker had a return on equity of 28.00% and a net margin of 9.31%. The firm had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.26 billion.
A number of other equities analysts have also weighed in on SYK. Zacks Investment Research lowered Stryker from a “buy” rating to a “hold” rating in a research report on Thursday. Citigroup upped their target price on Stryker from $173.00 to $174.00 and gave the stock a “neutral” rating in a research report on Thursday, November 15th. Canaccord Genuity reissued a “buy” rating and set a $185.00 price objective on shares of Stryker in a report on Wednesday, July 25th. Oppenheimer set a $170.00 price target on Stryker and gave the company a “hold” rating in a report on Friday, November 9th. Finally, Needham & Company LLC reissued a “hold” rating on shares of Stryker in a report on Friday, November 9th. Eight investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $181.86.
SYK traded down $1.61 during trading on Monday, hitting $164.34. The company’s stock had a trading volume of 1,294,674 shares, compared to its average volume of 1,461,595. Stryker has a twelve month low of $146.80 and a twelve month high of $179.84. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.21 and a current ratio of 1.91. The firm has a market cap of $62.10 billion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 2.28 and a beta of 0.64.
Institutional investors and hedge funds have recently modified their holdings of the stock. Atlantic Trust LLC bought a new stake in Stryker during the second quarter valued at about $105,000. Centaurus Financial Inc. bought a new stake in Stryker during the second quarter valued at about $110,000. NuWave Investment Management LLC boosted its stake in shares of Stryker by 3,245.0% in the third quarter. NuWave Investment Management LLC now owns 669 shares of the medical technology company’s stock worth $119,000 after acquiring an additional 649 shares during the period. Kaizen Advisory LLC boosted its stake in shares of Stryker by 142.6% in the second quarter. Kaizen Advisory LLC now owns 752 shares of the medical technology company’s stock worth $127,000 after acquiring an additional 442 shares during the period. Finally, NumerixS Investment Technologies Inc bought a new position in shares of Stryker in the second quarter worth about $135,000. 74.87% of the stock is owned by institutional investors.
In related news, CFO Glenn S. Boehnlein sold 750 shares of Stryker stock in a transaction on Monday, October 1st. The stock was sold at an average price of $178.17, for a total value of $133,627.50. Following the completion of the sale, the chief financial officer now owns 2,785 shares of the company’s stock, valued at $496,203.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP M Kathryn Fink sold 415 shares of Stryker stock in a transaction on Monday, November 5th. The stock was sold at an average price of $166.56, for a total value of $69,122.40. The disclosure for this sale can be found here. Insiders have sold 39,031 shares of company stock valued at $6,520,313 in the last quarter. 7.40% of the stock is owned by company insiders.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 31st. Shareholders of record on Friday, September 28th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date was Thursday, September 27th. Stryker’s payout ratio is 28.97%.
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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