Brokers Issue Forecasts for Stryker Corporation’s FY2018 Earnings (SYK)
Stryker Corporation (NYSE:SYK) – Equities research analysts at Gabelli decreased their FY2018 earnings per share (EPS) estimates for Stryker Corporation in a research report issued to clients and investors on Monday. Gabelli analyst J. Tsai now forecasts that the medical technology company will post earnings per share of $7.10 for the year, down from their previous forecast of $7.15. Gabelli also issued estimates for Stryker Corporation’s FY2019 earnings at $7.80 EPS and FY2021 earnings at $9.50 EPS.
Several other equities research analysts have also issued reports on the stock. Oppenheimer Holdings, Inc. set a $156.00 price target on shares of Stryker Corporation and gave the company a “hold” rating in a report on Monday. Cowen and Company set a $166.00 price target on shares of Stryker Corporation and gave the company a “buy” rating in a report on Sunday. Barclays PLC lifted their price target on shares of Stryker Corporation from $137.00 to $148.00 and gave the company an “underweight” rating in a report on Friday. Canaccord Genuity lifted their price target on shares of Stryker Corporation from $155.00 to $162.00 and gave the company a “buy” rating in a report on Friday. Finally, Stifel Nicolaus lifted their price target on shares of Stryker Corporation from $158.00 to $168.00 and gave the company a “buy” rating in a report on Friday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $151.52.
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Shares of Stryker Corporation (SYK) traded down 0.08% during trading on Tuesday, hitting $155.24. 730,015 shares of the stock were exchanged. The firm has a 50 day moving average price of $145.94 and a 200 day moving average price of $142.17. The firm has a market capitalization of $58.07 billion, a P/E ratio of 34.65 and a beta of 0.81. Stryker Corporation has a 52 week low of $106.48 and a 52 week high of $160.62.
Stryker Corporation (NYSE:SYK) last announced its earnings results on Thursday, October 26th. The medical technology company reported $1.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.50 by $0.02. Stryker Corporation had a net margin of 14.67% and a return on equity of 24.11%. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same period in the prior year, the business earned $1.39 earnings per share. Stryker Corporation’s quarterly revenue was up 6.1% on a year-over-year basis.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be given a $0.425 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.09%. Stryker Corporation’s dividend payout ratio (DPR) is currently 36.32%.
In related news, insider Lonny J. Carpenter sold 5,000 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $146.36, for a total transaction of $731,800.00. Following the transaction, the insider now owns 88,207 shares in the company, valued at approximately $12,909,976.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Graham A. Mclean sold 1,124 shares of the business’s stock in a transaction 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 transaction, the insider now owns 8,983 shares in the company, valued at approximately $1,313,853.58. The disclosure for this sale can be found here. 7.40% of the stock is currently owned by insiders.
Several institutional investors have recently added to or reduced their stakes in SYK. Acrospire Investment Management LLC bought a new stake in Stryker Corporation during the 2nd quarter valued at $111,000. Bollard Group LLC increased its stake in Stryker Corporation by 0.4% during the 2nd quarter. Bollard Group LLC now owns 832 shares of the medical technology company’s stock valued at $115,000 after purchasing an additional 3 shares in the last quarter. Motco increased its stake in Stryker Corporation by 50.7% during the 2nd quarter. Motco now owns 826 shares of the medical technology company’s stock valued at $115,000 after purchasing an additional 278 shares in the last quarter. Bruderman Asset Management LLC bought a new stake in Stryker Corporation during the 2nd quarter valued at $150,000. Finally, James Investment Research Inc. bought a new stake in Stryker Corporation during the 2nd quarter valued at $155,000. Institutional investors own 74.00% of the company’s stock.
Stryker Corporation 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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