Analysts Set Expectations for Stryker Corporation’s FY2017 Earnings (SYK)
Stryker Corporation (NYSE:SYK) – Analysts at Northcoast Research boosted their FY2017 EPS estimates for shares of Stryker in a research report issued to clients and investors on Friday. Northcoast Research analyst D. Keiser now forecasts that the medical technology company will post earnings of $6.49 per share for the year, up from their previous forecast of $6.48. Northcoast Research also issued estimates for Stryker’s Q4 2017 earnings at $1.96 EPS, Q2 2018 earnings at $1.66 EPS, Q3 2018 earnings at $1.70 EPS, Q4 2018 earnings at $2.13 EPS and FY2018 earnings at $7.09 EPS.
Several other equities analysts have also recently issued reports on the company. Robert W. Baird upgraded Stryker from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $161.00 to $173.00 in a research note on Thursday, November 16th. JPMorgan Chase & Co. upgraded Stryker from a “neutral” rating to an “overweight” rating in a research note on Tuesday, January 2nd. BMO Capital Markets upgraded Stryker to a “market perform” rating and set a $163.00 price objective on the stock in a research note on Tuesday, December 12th. Zacks Investment Research cut Stryker from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. Finally, Stifel Nicolaus raised their price objective on Stryker from $158.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen 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 $156.60.
Stryker (NYSE:SYK) last released its earnings results on Thursday, October 26th. The medical technology company reported $1.52 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.50 by $0.02. The company had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.97 billion. Stryker had a return on equity of 17.02% and a net margin of 14.44%. The business’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.39 EPS.
Several institutional investors and hedge funds have recently modified their holdings of the company. Acrospire Investment Management LLC acquired a new position in Stryker during the second quarter worth about $111,000. Sawyer & Company Inc acquired a new position in Stryker during the fourth quarter worth about $125,000. Sit Investment Associates Inc. grew 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 acquiring an additional 440 shares during the period. Motco grew its holdings in Stryker by 50.7% during the second quarter. Motco now owns 826 shares of the medical technology company’s stock worth $115,000 after acquiring an additional 278 shares during the period. Finally, Oak Point Wealth Management acquired a new position in Stryker during the fourth quarter worth about $145,000. 74.88% of the stock is currently owned by institutional investors.
In other news, insider Lonny J. Carpenter sold 5,000 shares of the firm’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $155.34, for a total transaction of $776,700.00. Following the transaction, the insider now directly owns 83,207 shares of the company’s stock, valued at $12,925,375.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 7.40% of the stock is currently owned by company insiders.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 1.18%. This is a positive change from Stryker’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend is Thursday, December 28th. Stryker’s dividend payout ratio (DPR) is 40.09%.
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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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