FY2017 Earnings Estimate for Stryker Corporation Issued By Oppenheimer Holdings (SYK)
Stryker Corporation (NYSE:SYK) – Equities research analysts at Oppenheimer Holdings increased their FY2017 earnings estimates for Stryker Corporation in a report issued on Monday. Oppenheimer Holdings analyst S. Lichtman now anticipates that the medical technology company will earn $6.48 per share for the year, up from their prior estimate of $6.46. Oppenheimer Holdings has a “Hold” rating and a $156.00 price objective on the stock. Oppenheimer Holdings also issued estimates for Stryker Corporation’s FY2018 earnings at $7.15 EPS.
Several other research firms have also weighed in on SYK. Cowen and Company set a $166.00 target price on shares of Stryker Corporation and gave the company a “buy” rating in a report on Sunday. Zacks Investment Research raised shares of Stryker Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Robert W. Baird reaffirmed a “hold” rating and set a $161.00 target price on shares of Stryker Corporation in a report on Friday, October 27th. Piper Jaffray Companies reissued a “buy” rating and issued a $156.00 price target on shares of Stryker Corporation in a report on Friday, October 27th. Finally, Wells Fargo & Company boosted their price target on shares of Stryker Corporation from $160.00 to $166.00 in a report on Friday, October 27th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and twelve have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $151.52.
Stryker Corporation (NYSE:SYK) last announced its quarterly earnings data 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. The firm had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.97 billion. Stryker Corporation had a net margin of 14.67% and a return on equity of 24.11%. The company’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the prior year, the company posted $1.39 earnings per share.
In other Stryker Corporation news, insider Graham A. Mclean sold 1,124 shares of the company’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $146.26, for a total value of $164,396.24. Following the transaction, the insider now owns 8,983 shares of the company’s stock, valued at $1,313,853.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Lonny J. Carpenter sold 5,000 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $146.36, for a total transaction of $731,800.00. Following the completion of the transaction, the insider now directly owns 88,207 shares in the company, valued at approximately $12,909,976.52. The disclosure for this sale can be found here. Insiders own 7.40% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State of Tennessee Treasury Department lifted its position in Stryker Corporation by 18.1% in the third quarter. State of Tennessee Treasury Department now owns 221,528 shares of the medical technology company’s stock valued at $31,462,000 after buying an additional 33,938 shares during the last quarter. Nwam LLC acquired a new position in Stryker Corporation in the third quarter valued at about $228,000. Mn Services Vermogensbeheer B.V. lifted its position in Stryker Corporation by 0.9% in the third quarter. Mn Services Vermogensbeheer B.V. now owns 55,520 shares of the medical technology company’s stock valued at $7,885,000 after buying an additional 500 shares during the last quarter. Old Mutual Global Investors UK Ltd. lifted its position in Stryker Corporation by 2.5% in the third quarter. Old Mutual Global Investors UK Ltd. now owns 52,692 shares of the medical technology company’s stock valued at $7,483,000 after buying an additional 1,298 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in Stryker Corporation by 4.2% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 55,051 shares of the medical technology company’s stock valued at $7,818,000 after buying an additional 2,219 shares during the last quarter. 74.00% of the stock is currently owned by institutional investors.
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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