Stryker Corporation to Post Q3 2018 Earnings of $1.66 Per Share, SunTrust Banks Forecasts (SYK)

Stryker Corporation (NYSE:SYK) – Investment analysts at SunTrust Banks reduced their Q3 2018 EPS estimates for shares of Stryker in a research report issued to clients and investors on Tuesday. SunTrust Banks analyst B. Nudell now forecasts that the medical technology company will earn $1.66 per share for the quarter, down from their prior forecast of $1.69. SunTrust Banks currently has a “Buy” rating and a $179.00 target price on the stock. SunTrust Banks also issued estimates for Stryker’s Q4 2018 earnings at $2.17 EPS, FY2018 earnings at $7.12 EPS, FY2019 earnings at $7.80 EPS, FY2020 earnings at $8.51 EPS and FY2021 earnings at $9.25 EPS.

Stryker (NYSE:SYK) last issued its quarterly earnings data on Tuesday, January 30th. The medical technology company reported $1.96 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.95 by $0.01. Stryker had a return on equity of 24.55% and a net margin of 8.20%. The company had revenue of $3.47 billion for the quarter, compared to the consensus estimate of $3.42 billion. During the same quarter last year, the business posted $1.78 earnings per share. The firm’s revenue was up 9.9% compared to the same quarter last year.

SYK has been the subject of a number of other research reports. JPMorgan Chase & Co. raised shares of Stryker from a “neutral” rating to an “overweight” rating in a research report on Tuesday, January 2nd. Robert W. Baird raised shares of Stryker from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $161.00 to $173.00 in a research report on Thursday, November 16th. BMO Capital Markets raised shares of Stryker to a “market perform” rating and set a $163.00 target price for the company in a research report on Tuesday, December 12th. Zacks Investment Research downgraded shares of Stryker from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $163.00 target price on shares of Stryker in a research report on Friday, January 5th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $162.50.

Shares of Stryker (NYSE:SYK) traded up $0.82 during midday trading on Friday, reaching $148.83. 367,340 shares of the company were exchanged, compared to its average volume of 1,435,688. Stryker has a 52 week low of $122.78 and a 52 week high of $170.00. The stock has a market cap of $57,509.09, a price-to-earnings ratio of 55.53, a P/E/G ratio of 2.21 and a beta of 0.70. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.59 and a current ratio of 2.29.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Thursday, March 29th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.26%. The ex-dividend date is Wednesday, March 28th. Stryker’s payout ratio is 70.15%.

In related news, insider Lonny J. Carpenter sold 5,000 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $163.76, for a total value of $818,800.00. Following the completion of the transaction, the insider now owns 94,253 shares of the company’s stock, valued at approximately $15,434,871.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP William E. Berry, Jr. sold 1,306 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $164.42, for a total transaction of $214,732.52. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,840 shares of company stock valued at $2,749,989. Insiders own 7.40% of the company’s stock.

A number of institutional investors have recently modified their holdings of SYK. Koch Industries Inc. raised its stake in shares of Stryker by 34,120.3% during the second quarter. Koch Industries Inc. now owns 1,260,675 shares of the medical technology company’s stock valued at $1,252,000 after purchasing an additional 1,256,991 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of Stryker by 2,237.8% in the 2nd quarter. Janus Henderson Group PLC now owns 1,019,254 shares of the medical technology company’s stock valued at $141,452,000 after purchasing an additional 975,656 shares during the last quarter. Vanguard Group Inc. grew its position in Stryker by 2.8% during the 2nd quarter. Vanguard Group Inc. now owns 24,078,709 shares of the medical technology company’s stock worth $3,341,643,000 after acquiring an additional 657,656 shares during the last quarter. APG Asset Management N.V. grew its position in Stryker by 117.1% during the 3rd quarter. APG Asset Management N.V. now owns 583,736 shares of the medical technology company’s stock worth $82,902,000 after acquiring an additional 314,800 shares during the last quarter. Finally, Pictet Asset Management Ltd. grew its position in Stryker by 25.4% during the 3rd quarter. Pictet Asset Management Ltd. now owns 1,286,239 shares of the medical technology company’s stock worth $182,672,000 after acquiring an additional 260,502 shares during the last quarter. 74.85% of the stock is owned by institutional investors.

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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.

Earnings History and Estimates for Stryker (NYSE:SYK)

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