Q3 2017 EPS Estimates for Stryker Corporation (SYK) Decreased by Analyst
Stryker Corporation (NYSE:SYK) – Analysts at Jefferies Group dropped their Q3 2017 earnings per share estimates for Stryker Corporation in a report released on Monday. Jefferies Group analyst R. Denhoy now anticipates that the medical technology company will post earnings per share of $1.50 for the quarter, down from their prior estimate of $1.55. Jefferies Group currently has a “Hold” rating and a $132.00 target price on the stock. Jefferies Group also issued estimates for Stryker Corporation’s Q4 2017 earnings at $1.92 EPS, FY2017 earnings at $6.42 EPS and FY2020 earnings at $8.51 EPS.
A number of other research analysts have also weighed in on the stock. Royal Bank Of Canada reissued a “buy” rating and issued a $155.00 target price on shares of Stryker Corporation in a research note on Friday, September 1st. Argus reaffirmed a “buy” rating and set a $160.00 price target on shares of Stryker Corporation in a research report on Tuesday, August 29th. Cantor Fitzgerald started coverage on shares of Stryker Corporation in a research report on Thursday, June 29th. They set a “neutral” rating and a $153.00 price target on the stock. Zacks Investment Research raised shares of Stryker Corporation from a “hold” rating to a “buy” rating and set a $163.00 price target on the stock in a research report on Monday, July 17th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $140.00 price target on shares of Stryker Corporation in a research report on Tuesday, July 11th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company’s stock. Stryker Corporation has an average rating of “Hold” and a consensus price target of $146.78.
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Shares of Stryker Corporation (NYSE SYK) opened at 149.69 on Wednesday. The firm’s 50-day moving average price is $144.64 and its 200-day moving average price is $141.50. Stryker Corporation has a 12 month low of $106.48 and a 12 month high of $151.88. The stock has a market capitalization of $55.99 billion, a P/E ratio of 33.41 and a beta of 0.80.
Stryker Corporation (NYSE:SYK) last posted its earnings results on Thursday, July 27th. The medical technology company reported $1.53 EPS for the quarter, topping analysts’ consensus estimates of $1.51 by $0.02. The company had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.98 billion. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.39 earnings per share.
Several institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Stryker Corporation by 2.8% during the second quarter. Vanguard Group Inc. now owns 24,078,709 shares of the medical technology company’s stock valued at $3,341,643,000 after buying an additional 657,656 shares during the period. BlackRock Inc. raised its stake in Stryker Corporation by 5.2% during the second quarter. BlackRock Inc. now owns 23,115,853 shares of the medical technology company’s stock worth $3,208,017,000 after purchasing an additional 1,139,082 shares during the period. Wellington Management Group LLP raised its stake in Stryker Corporation by 0.5% during the first quarter. Wellington Management Group LLP now owns 4,569,118 shares of the medical technology company’s stock worth $601,525,000 after purchasing an additional 24,139 shares during the period. Geode Capital Management LLC raised its stake in Stryker Corporation by 6.3% during the first quarter. Geode Capital Management LLC now owns 2,786,406 shares of the medical technology company’s stock worth $366,255,000 after purchasing an additional 166,133 shares during the period. Finally, Jensen Investment Management Inc. raised its stake in Stryker Corporation by 9.9% during the second quarter. Jensen Investment Management Inc. now owns 2,220,791 shares of the medical technology company’s stock worth $308,201,000 after purchasing an additional 200,192 shares during the period. 74.09% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Lonny J. Carpenter sold 5,000 shares of the stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $146.36, for a total value of $731,800.00. Following the sale, the insider now directly owns 88,207 shares in the company, valued at $12,909,976.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Graham A. Mclean sold 1,124 shares of the stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $146.26, for a total transaction of $164,396.24. Following the completion of the sale, the insider now owns 8,983 shares in the company, valued at $1,313,853.58. The disclosure for this sale can be found here. Corporate insiders own 7.40% of the company’s stock.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be given a dividend of $0.425 per share. The ex-dividend date is Thursday, September 28th. This represents a $1.70 annualized dividend and a yield of 1.14%. Stryker Corporation’s payout ratio is currently 37.95%.
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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