Research Analysts Issue Forecasts for Stryker Corporation’s FY2018 Earnings (SYK)
Stryker Corporation (NYSE:SYK) – Northcoast Research boosted their FY2018 earnings per share (EPS) estimates for Stryker Corporation in a research report issued to clients and investors on Monday. Northcoast Research analyst D. Keiser now expects that the medical technology company will post earnings per share of $7.23 for the year, up from their previous forecast of $7.15. Northcoast Research also issued estimates for Stryker Corporation’s Q4 2018 earnings at $2.19 EPS.
Stryker Corporation (NYSE:SYK) last released its quarterly earnings results on Thursday, October 26th. The medical technology company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.02. The business had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Stryker Corporation had a return on equity of 24.11% and a net margin of 14.67%. The company’s revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.39 EPS. COPYRIGHT VIOLATION NOTICE: This news story was first published by TheOlympiaReport and is the sole property of of TheOlympiaReport. If you are viewing this news story on another publication, it was copied illegally and reposted in violation of U.S. & international copyright legislation. The original version of this news story can be viewed at https://theolympiareport.com/2017/10/31/research-analysts-issue-forecasts-for-stryker-corporations-fy2018-earnings-syk.html.
Other research analysts have also issued research reports about the stock. Wells Fargo & Company lifted their price target on shares of Stryker Corporation from $160.00 to $166.00 in a research report on Friday. Cowen and Company reissued a “buy” rating and set a $160.00 target price (up previously from $150.00) on shares of Stryker Corporation in a research note on Sunday, July 30th. Stifel Nicolaus lifted their target price on shares of Stryker Corporation from $151.00 to $158.00 and gave the company a “buy” rating in a research note on Friday, July 28th. Zacks Investment Research raised shares of Stryker Corporation from a “hold” rating to a “buy” rating and set a $163.00 target price for the company in a research note on Monday, July 17th. Finally, BidaskClub raised shares of Stryker Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, August 17th. Two equities research 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’s stock. The company presently has an average rating of “Hold” and a consensus price target of $151.52.
Stryker Corporation (NYSE:SYK) traded down 0.08% during midday trading on Tuesday, hitting $155.24. The company had a trading volume of 730,015 shares. Stryker Corporation has a 12-month low of $106.48 and a 12-month high of $160.62. The stock has a market cap of $58.07 billion, a price-to-earnings ratio of 34.65 and a beta of 0.81. The company’s 50 day moving average is $145.94 and its 200 day moving average is $142.17.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 31st. Shareholders of record on Friday, September 29th will be paid a $0.425 dividend. This represents a $1.70 annualized dividend and a yield of 1.09%. The ex-dividend date of this dividend is Thursday, September 28th. Stryker Corporation’s payout ratio is presently 36.32%.
In other Stryker Corporation news, 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 completion of the sale, the insider now owns 8,983 shares in the company, valued at approximately $1,313,853.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the insider now owns 88,207 shares of the company’s stock, valued at approximately $12,909,976.52. The disclosure for this sale can be found here. 7.40% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the business. Acrospire Investment Management LLC bought a new stake in shares of Stryker Corporation in the 2nd quarter worth $111,000. Bollard Group LLC grew its stake in shares of Stryker Corporation by 0.4% in the 2nd quarter. Bollard Group LLC now owns 832 shares of the medical technology company’s stock worth $115,000 after acquiring an additional 3 shares in the last quarter. Motco grew its stake in shares of Stryker Corporation by 50.7% in the 2nd quarter. Motco now owns 826 shares of the medical technology company’s stock worth $115,000 after acquiring an additional 278 shares in the last quarter. Bruderman Asset Management LLC bought a new stake in shares of Stryker Corporation in the 2nd quarter worth $150,000. Finally, James Investment Research Inc. bought a new stake in shares of Stryker Corporation in the 2nd quarter worth $155,000. Institutional investors and hedge funds own 74.00% of the company’s stock.
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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