Stryker Corp. to Post Q3 2016 Earnings of $1.38 Per Share, SunTrust Banks Forecasts (SYK)
Stryker Corp. (NYSE:SYK) – Equities research analysts at SunTrust Banks issued their Q3 2016 EPS estimates for Stryker Corp. in a research report issued on Thursday. SunTrust Banks analyst B. Nudell expects that the firm will earn $1.38 per share for the quarter. SunTrust Banks currently has a “Buy” rating and a $140.00 target price 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 announced its earnings results on Thursday, July 21st. The medical technology company reported $1.39 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.37 by $0.02. Stryker Corp. had a return on equity of 23.61% and a net margin of 15.33%. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.79 billion.
SYK has been the subject of a number of other reports. Zacks Investment Research raised Stryker Corp. from a “hold” rating to a “buy” rating and set a $130.00 price objective for the company in a research note on Tuesday, June 21st. Brean Capital reiterated 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. Canaccord Genuity reiterated a “buy” rating and issued a $130.00 target price on shares of Stryker Corp. in a report on Sunday, July 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Stryker Corp. in a report on Sunday, July 24th. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating and set a $119.00 price target on shares of Stryker Corp. in a report on Friday, July 22nd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $117.91.
Stryker Corp. (NYSE:SYK) opened at 113.57 on Monday. The firm has a market capitalization of $42.51 billion, a price-to-earnings ratio of 26.77 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 company’s 50-day moving average price is $115.20 and its 200 day moving average price is $114.25.
Large investors have recently bought and sold shares of the stock. Capital Research Global Investors raised its stake in Stryker Corp. by 3.4% in the second quarter. Capital Research Global Investors now owns 32,980,782 shares of the medical technology company’s stock worth $3,952,087,000 after buying an additional 1,095,549 shares during the last quarter. Vanguard Group Inc. raised its stake in Stryker Corp. by 1.9% in the second quarter. Vanguard Group Inc. now owns 21,428,963 shares of the medical technology company’s stock worth $2,567,833,000 after buying an additional 397,336 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in Stryker Corp. by 2.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 11,990,001 shares of the medical technology company’s stock worth $1,436,761,000 after buying an additional 328,431 shares during the last quarter. BlackRock Fund Advisors raised its stake in Stryker Corp. by 20.1% in the second quarter. BlackRock Fund Advisors now owns 6,280,516 shares of the medical technology company’s stock worth $752,594,000 after buying an additional 1,051,648 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Stryker Corp. by 10.0% in the first quarter. Wellington Management Group LLP now owns 5,509,234 shares of the medical technology company’s stock worth $591,086,000 after buying an additional 499,015 shares during the last quarter. 75.50% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Yin C. Becker sold 1,111 shares of the company’s stock in a transaction that occurred on Thursday, October 6th. The stock was sold at an average price of $117.00, for a total value of $129,987.00. Following the sale, the vice president now owns 16,939 shares of the company’s stock, valued at approximately $1,981,863. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ronda E. Stryker sold 18,000 shares of the company’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $117.56, for a total value of $2,116,080.00. Following the completion of the sale, the director now directly owns 193,142 shares in the company, valued at approximately $22,705,773.52. The disclosure for this sale can be found here. 7.80% of the stock is owned by corporate insiders.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 31st. Investors of record on Friday, September 30th will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.34%. The ex-dividend date is Wednesday, September 28th. Stryker Corp.’s dividend payout ratio is currently 35.85%.
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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