Stryker (NYSE:SYK) issued its earnings results on Thursday. The medical technology company reported $1.98 earnings per share for the quarter, beating the consensus estimate of $1.93 by $0.05, Briefing.com reports. The company had revenue of $3.65 billion during the quarter, compared to analysts’ expectations of $3.60 billion. Stryker had a return on equity of 26.72% and a net margin of 25.38%. Stryker’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.76 EPS.
NYSE SYK traded up $1.79 on Friday, hitting $214.45. The company’s stock had a trading volume of 1,569,425 shares, compared to its average volume of 1,256,306. The firm has a market capitalization of $79.68 billion, a price-to-earnings ratio of 29.34, a P/E/G ratio of 2.58 and a beta of 0.87. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.30 and a current ratio of 2.12. The firm’s 50-day simple moving average is $204.17. Stryker has a 52-week low of $144.75 and a 52-week high of $222.59.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 31st. Shareholders of record on Friday, June 28th will be issued a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 0.97%. The ex-dividend date is Thursday, June 27th. Stryker’s dividend payout ratio (DPR) is currently 28.45%.
Several brokerages recently weighed in on SYK. Oppenheimer began coverage on Kala Pharmaceuticals in a report on Wednesday, April 24th. They set an “outperform” rating and a $11.00 target price for the company. Cantor Fitzgerald increased their target price on Stryker from $190.00 to $230.00 and gave the company a “neutral” rating in a report on Friday. Credit Suisse Group set a €59.00 ($68.60) price objective on Renault and gave the stock a “neutral” rating in a report on Friday. Wells Fargo & Co reiterated a “hold” rating on shares of Perrigo in a report on Tuesday, July 2nd. Finally, Morgan Stanley dropped their price objective on Neon Therapeutics from $19.00 to $13.00 and set an “overweight” rating for the company in a report on Tuesday, July 16th. Four investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $210.41.
In other news, insider Timothy J. Scannell sold 4,666 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $205.88, for a total value of $960,636.08. Following the completion of the transaction, the insider now owns 155,963 shares in the company, valued at approximately $32,109,662.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Glenn S. Boehnlein sold 2,700 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The shares were sold at an average price of $188.21, for a total value of $508,167.00. Following the completion of the transaction, the chief financial officer now owns 23,333 shares of the company’s stock, valued at approximately $4,391,503.93. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,698 shares of company stock valued at $3,643,227. 7.20% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. D.B. Root & Company LLC increased its position in Stryker by 3.0% during the 2nd quarter. D.B. Root & Company LLC now owns 1,724 shares of the medical technology company’s stock valued at $354,000 after buying an additional 50 shares in the last quarter. Welch Group LLC increased its position in Stryker by 1.5% during the 1st quarter. Welch Group LLC now owns 3,774 shares of the medical technology company’s stock valued at $745,000 after buying an additional 54 shares in the last quarter. Independence Bank of Kentucky increased its position in Stryker by 4.9% during the 1st quarter. Independence Bank of Kentucky now owns 1,180 shares of the medical technology company’s stock valued at $233,000 after buying an additional 55 shares in the last quarter. Benedict Financial Advisors Inc. increased its position in Stryker by 1.1% during the 1st quarter. Benedict Financial Advisors Inc. now owns 5,235 shares of the medical technology company’s stock valued at $1,034,000 after buying an additional 57 shares in the last quarter. Finally, Berman Capital Advisors LLC increased its position in Stryker by 11.1% during the 1st quarter. Berman Capital Advisors LLC now owns 571 shares of the medical technology company’s stock valued at $112,000 after buying an additional 57 shares in the last quarter. Institutional investors own 73.59% of the company’s stock.
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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