Brokerages Expect Stryker Co. (SYK) Will Announce Quarterly Sales of $2.97 Billion
Brokerages predict that Stryker Co. (NYSE:SYK) will report $2.97 billion in sales for the current fiscal quarter, according to Zacks. Ten analysts have issued estimates for Stryker’s earnings. The highest sales estimate is $3 billion and the lowest is $2.95 billion. Stryker posted sales of $2.84 billion in the same quarter last year, which would indicate a positive year over year growth rate of 4.6%. The firm is expected to issue its next earnings report on Thursday, July 20th.
On average, analysts expect that Stryker will report full-year sales of $2.97 billion for the current financial year, with estimates ranging from $12.16 billion to $12.25 billion. For the next year, analysts expect that the business will post sales of $12.96 billion per share, with estimates ranging from $12.76 billion to $13.11 billion. Zacks Investment Research’s sales averages are an average based on a survey of sell-side research analysts that follow Stryker.
Stryker (NYSE:SYK) last announced its quarterly earnings data on Tuesday, April 25th. The medical technology company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.43 by $0.05. The firm had revenue of $2.96 billion for the quarter, compared to the consensus estimate of $2.90 billion. Stryker had a net margin of 14.54% and a return on equity of 23.86%. The business’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same period in the prior year, the company posted $1.24 earnings per share.
A number of brokerages recently issued reports on SYK. Goldman Sachs Group Inc began coverage on Stryker in a research note on Tuesday, May 16th. They issued a “neutral” rating and a $129.00 price objective on the stock. Deutsche Bank AG reiterated a “buy” rating and set a $148.00 price target (up from $135.00) on shares of Stryker in a research report on Saturday, April 29th. Barclays PLC reiterated a “sell” rating and set a $133.00 price target on shares of Stryker in a research report on Thursday, April 27th. Cowen and Company set a $150.00 price target on Stryker and gave the company an “outperform” rating in a research report on Wednesday, April 26th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $140.00 price target (up from $135.00) on shares of Stryker in a research report on Wednesday, April 26th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and eleven have assigned a buy rating to the stock. Stryker presently has a consensus rating of “Hold” and a consensus price target of $134.81.
Shares of Stryker (NYSE:SYK) opened at 141.27 on Friday. The firm’s 50-day moving average is $134.70 and its 200-day moving average is $125.59. The firm has a market capitalization of $52.80 billion, a P/E ratio of 31.75 and a beta of 0.80. Stryker has a 52 week low of $106.48 and a 52 week high of $141.59.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 31st. Shareholders of record on Friday, June 30th will be issued a $0.425 dividend. The ex-dividend date of this dividend is Wednesday, June 28th. This represents a $1.70 dividend on an annualized basis and a yield of 1.20%. Stryker’s dividend payout ratio (DPR) is 39.08%.
In other Stryker news, insider Timothy J. Scannell sold 13,322 shares of the stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $135.89, for a total value of $1,810,326.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 7.80% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the stock. HM Payson & Co. increased its position in shares of Stryker by 13.0% in the first quarter. HM Payson & Co. now owns 4,116 shares of the medical technology company’s stock valued at $542,000 after buying an additional 475 shares during the last quarter. Pointe Capital Management LLC bought a new position in shares of Stryker during the first quarter valued at $271,000. Achmea Investment Management B.V. bought a new position in shares of Stryker during the first quarter valued at $2,307,000. Bank of Nova Scotia increased its position in shares of Stryker by 913.0% in the first quarter. Bank of Nova Scotia now owns 70,790 shares of the medical technology company’s stock valued at $9,319,000 after buying an additional 63,802 shares during the last quarter. Finally, Northern Oak Wealth Management Inc. increased its position in shares of Stryker by 38.1% in the first quarter. Northern Oak Wealth Management Inc. now owns 4,280 shares of the medical technology company’s stock valued at $563,000 after buying an additional 1,180 shares during the last quarter. Hedge funds and other institutional investors own 75.29% of the company’s stock.
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Stryker 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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