Stryker Corp. (NYSE:SYK) – Investment analysts at SunTrust Banks issued their Q3 2016 earnings per share estimates for Stryker Corp. in a research report issued on Thursday. SunTrust Banks analyst B. Nudell expects that the firm will post earnings of $1.38 per share for the quarter. SunTrust Banks has a “Buy” rating and a $140.00 price objective on the stock. SunTrust Banks also issued estimates for Stryker Corp.’s Q4 2016 earnings at $1.75 EPS, Q1 2017 earnings at $1.50 EPS, Q2 2017 earnings at $1.52 EPS, Q3 2017 earnings at $1.53 EPS, Q4 2017 earnings at $1.91 EPS, FY2018 earnings at $6.93 EPS, FY2019 earnings at $7.65 EPS and FY2020 earnings at $8.41 EPS.
Stryker Corp. (NYSE:SYK) last released its quarterly earnings data on Thursday, July 21st. The medical technology company reported $1.39 EPS for the quarter, beating analysts’ consensus estimates of $1.37 by $0.02. Stryker Corp. had a return on equity of 23.61% and a net margin of 15.33%. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.79 billion.
Other equities research analysts also recently issued research reports about the stock. Needham & Company LLC restated a “hold” rating on shares of Stryker Corp. in a research report on Sunday, July 24th. Jefferies Group restated a “hold” rating and issued a $120.00 price objective (up previously from $113.00) on shares of Stryker Corp. in a research report on Monday, July 25th. Piper Jaffray Cos. increased their target price on shares of Stryker Corp. from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Friday, July 22nd. Zacks Investment Research raised shares of Stryker Corp. from a “hold” rating to a “buy” rating and set a $130.00 target price for the company in a report on Tuesday, June 21st. Finally, Brean Capital reaffirmed a “buy” rating and issued a $125.00 target price (up from $121.00) on shares of Stryker Corp. in a report on Monday, July 25th. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $117.91.
Stryker Corp. (NYSE:SYK) opened at 113.65 on Monday. The company has a 50-day moving average price of $115.22 and a 200-day moving average price of $114.11. The firm has a market capitalization of $42.54 billion, a PE ratio of 26.79 and a beta of 0.72. Stryker Corp. has a 12-month low of $86.68 and a 12-month high of $123.55.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be issued a dividend of $0.38 per share. The ex-dividend date is Wednesday, September 28th. This represents a $1.52 annualized dividend and a dividend yield of 1.34%. Stryker Corp.’s payout ratio is 35.85%.
In other Stryker Corp. news, Director Ronda E. Stryker sold 12,000 shares of the business’s stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $122.26, for a total value of $1,467,120.00. Following the transaction, the director now owns 193,142 shares in the company, valued at approximately $23,613,540.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Yin C. Becker sold 1,111 shares of the business’s stock in a transaction on Thursday, October 6th. The stock was sold at an average price of $117.00, for a total transaction of $129,987.00. Following the completion of the transaction, the vice president now owns 16,939 shares in the company, valued at approximately $1,981,863. The disclosure for this sale can be found here. Corporate insiders own 7.80% of the company’s stock.
A number of institutional investors have recently modified their holdings of SYK. Acadian Asset Management LLC raised its position in shares of Stryker Corp. by 376,330.6% in the second quarter. Acadian Asset Management LLC now owns 135,515 shares of the medical technology company’s stock worth $16,238,000 after buying an additional 135,479 shares in the last quarter. Fundsmith LLP raised its position in shares of Stryker Corp. by 9.1% in the second quarter. Fundsmith LLP now owns 3,932,735 shares of the medical technology company’s stock worth $471,260,000 after buying an additional 327,206 shares in the last quarter. Huntington National Bank raised its position in shares of Stryker Corp. by 36.4% in the second quarter. Huntington National Bank now owns 158,939 shares of the medical technology company’s stock worth $19,046,000 after buying an additional 42,423 shares in the last quarter. Confluence Investment Management LLC raised its position in shares of Stryker Corp. by 1.1% in the second quarter. Confluence Investment Management LLC now owns 525,675 shares of the medical technology company’s stock worth $62,992,000 after buying an additional 5,706 shares in the last quarter. Finally, Prudential PLC raised its position in shares of Stryker Corp. by 17.3% in the first quarter. Prudential PLC now owns 77,352 shares of the medical technology company’s stock worth $8,299,000 after buying an additional 11,432 shares in the last quarter. Hedge funds and other institutional investors own 75.49% of the company’s stock.
About Stryker Corp.
Stryker Corporation (Stryker) is a medical technology company. The Company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Company’s Orthopaedics segment products consist of implants used in hip and knee joint replacements and trauma and surgeries. The Company’s MedSurg segment products consist of surgical equipment and surgical navigation systems (Instruments); endoscopic and communications systems (Endoscopy); patient handling and emergency medical equipment (Medical), and reprocessed and remanufactured medical devices (Sustainability), as well as other medical device products used in a range of medical specialties.
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