Stryker Corporation (SYK) Expected to Announce Quarterly Sales of $2.99 Billion
Wall Street analysts expect Stryker Corporation (NYSE:SYK) to post $2.99 billion in sales for the current quarter, Zacks reports. Ten analysts have made estimates for Stryker Corporation’s earnings. The lowest sales estimate is $2.98 billion and the highest is $3.00 billion. Stryker Corporation reported sales of $2.83 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 5.7%. The company is expected to issue its next quarterly earnings report on Thursday, October 26th.
According to Zacks, analysts expect that Stryker Corporation will report full-year sales of $2.99 billion for the current financial year, with estimates ranging from $12.23 billion to $12.36 billion. For the next financial year, analysts anticipate that the business will report sales of $13.14 billion per share, with estimates ranging from $12.96 billion to $13.29 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Stryker Corporation.
Stryker Corporation (NYSE:SYK) last announced its earnings results on Thursday, July 27th. The medical technology company reported $1.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.02. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. The firm had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter in the previous year, the company earned $1.39 earnings per share. The firm’s quarterly revenue was up 6.1% compared to the same quarter last year.
Several research firms have recently commented on SYK. BMO Capital Markets reissued a “hold” rating and set a $125.00 price target on shares of Stryker Corporation in a research note on Tuesday, April 11th. Stifel Nicolaus increased their price target on shares of Stryker Corporation from $151.00 to $158.00 and gave the company a “buy” rating in a research note on Friday, July 28th. BidaskClub cut shares of Stryker Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Goldman Sachs Group Inc began coverage on shares of Stryker Corporation in a research note on Tuesday, May 16th. They set a “neutral” rating and a $129.00 price target on the stock. Finally, Cowen and Company set a $150.00 price target on shares of Stryker Corporation and gave the company an “outperform” rating in a research note on Wednesday, April 26th. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $144.03.
Shares of Stryker Corporation (SYK) opened at 146.53 on Monday. The company has a market cap of $54.81 billion, a PE ratio of 32.71 and a beta of 0.80. The company’s 50-day moving average price is $142.76 and its 200 day moving average price is $134.44. Stryker Corporation has a one year low of $106.48 and a one year high of $148.84.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be issued a $0.425 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.70 annualized dividend and a yield of 1.16%. Stryker Corporation’s dividend payout ratio (DPR) is presently 37.95%.
In related news, insider David Floyd sold 19,305 shares of the firm’s stock in a transaction on Wednesday, July 12th. The shares were sold at an average price of $144.56, for a total transaction of $2,790,730.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 7.40% of the company’s stock.
Several large investors have recently modified their holdings of the company. Macquarie Group Ltd. raised its stake in shares of Stryker Corporation by 13.3% in the fourth quarter. Macquarie Group Ltd. now owns 103,000 shares of the medical technology company’s stock worth $12,341,000 after buying an additional 12,100 shares during the last quarter. Gulf International Bank UK Ltd raised its stake in shares of Stryker Corporation by 1.3% in the first quarter. Gulf International Bank UK Ltd now owns 104,546 shares of the medical technology company’s stock worth $13,763,000 after buying an additional 1,300 shares during the last quarter. Lynch & Associates IN raised its stake in shares of Stryker Corporation by 0.3% in the first quarter. Lynch & Associates IN now owns 27,450 shares of the medical technology company’s stock worth $3,614,000 after buying an additional 75 shares during the last quarter. Koshinski Asset Management Inc. raised its stake in shares of Stryker Corporation by 428.5% in the first quarter. Koshinski Asset Management Inc. now owns 15,991 shares of the medical technology company’s stock worth $2,105,000 after buying an additional 12,965 shares during the last quarter. Finally, National Pension Service raised its stake in shares of Stryker Corporation by 0.4% in the first quarter. National Pension Service now owns 245,638 shares of the medical technology company’s stock worth $32,412,000 after buying an additional 884 shares during the last quarter. Institutional investors and hedge funds own 74.07% of the company’s stock.
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About Stryker Corporation
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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