Stryker Corporation (NYSE:SYK) – Equities research analysts at SunTrust Banks cut their Q3 2018 earnings estimates for shares of Stryker in a research report issued to clients and investors on Tuesday. SunTrust Banks analyst B. Nudell now anticipates that the medical technology company will post earnings per share of $1.66 for the quarter, down from their prior forecast of $1.69. SunTrust Banks has a “Buy” rating and a $179.00 price objective 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.
Other research analysts also recently issued reports about the company. Needham & Company LLC reiterated a “hold” rating on shares of Stryker in a research note on Wednesday, January 31st. Leerink Swann lifted their target price on Stryker from $177.00 to $184.00 and gave the company an “outperform” rating in a research note on Wednesday, January 31st. Piper Jaffray Companies reiterated a “buy” rating and issued a $170.00 target price on shares of Stryker in a research note on Wednesday, January 31st. Citigroup reiterated a “market perform” rating and issued a $165.00 target price (up from $156.00) on shares of Stryker in a research note on Thursday, February 1st. They noted that the move was a valuation call. Finally, Robert W. Baird upgraded Stryker from a “neutral” rating to an “outperform” rating in a research note on Friday, November 24th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have issued a buy rating to the company. Stryker currently has an average rating of “Hold” and a consensus price target of $162.50.
Stryker (NYSE:SYK) last released its quarterly earnings results on Tuesday, January 30th. The medical technology company reported $1.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.95 by $0.01. Stryker had a return on equity of 24.55% and a net margin of 8.20%. The firm 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 EPS. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year.
A number of hedge funds have recently modified their holdings of SYK. Sawyer & Company Inc acquired a new position in Stryker during the fourth quarter worth $125,000. Sit Investment Associates Inc. raised its holdings in Stryker by 114.3% during the fourth quarter. Sit Investment Associates Inc. now owns 825 shares of the medical technology company’s stock worth $128,000 after purchasing an additional 440 shares during the last quarter. San Francisco Sentry Investment Group CA raised its holdings in Stryker by 47.8% during the third quarter. San Francisco Sentry Investment Group CA now owns 1,005 shares of the medical technology company’s stock worth $143,000 after purchasing an additional 325 shares during the last quarter. Oak Point Wealth Management acquired a new position in Stryker during the fourth quarter worth $145,000. Finally, Dubuque Bank & Trust Co. acquired a new position in Stryker during the fourth quarter worth $164,000. 74.85% of the stock is owned by hedge funds and other institutional investors.
In related news, VP William E. Berry, Jr. sold 1,306 shares of Stryker 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Howard E. Cox, Jr. sold 7,400 shares of Stryker stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $164.09, for a total value of $1,214,266.00. The disclosure for this sale can be found here. Insiders sold a total of 16,840 shares of company stock valued at $2,749,989 over the last three months. Insiders own 7.40% of the company’s stock.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 30th. Stockholders of record on Thursday, March 29th will be issued a $0.47 dividend. The ex-dividend date is Wednesday, March 28th. This represents a $1.88 annualized dividend and a dividend yield of 1.24%. Stryker’s dividend payout ratio is currently 70.15%.
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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.
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