Stryker Co. (NYSE:SYK) – Equities researchers at Svb Leerink increased their Q2 2019 earnings per share (EPS) estimates for Stryker in a research report issued on Wednesday, July 10th. Svb Leerink analyst R. Newitter now expects that the medical technology company will post earnings per share of $1.94 for the quarter, up from their prior forecast of $1.90. Svb Leerink has a “Outperform” rating on the stock. Svb Leerink also issued estimates for Stryker’s Q3 2019 earnings at $1.88 EPS.
Stryker (NYSE:SYK) last issued its quarterly earnings results on Tuesday, April 23rd. The medical technology company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.84 by $0.04. Stryker had a net margin of 25.38% and a return on equity of 26.72%. The firm had revenue of $3.52 billion for the quarter, compared to analysts’ expectations of $3.51 billion. During the same period in the previous year, the business earned $1.68 earnings per share. Stryker’s revenue for the quarter was up 8.5% compared to the same quarter last year.
Other equities analysts have also recently issued research reports about the company. Canaccord Genuity set a C$16.50 target price on Detour Gold and gave the company a “buy” rating in a research note on Wednesday, April 24th. Robert W. Baird lowered their target price on Waters from $211.00 to $209.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 24th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Altagas in a research note on Tuesday, March 19th. Barclays lifted their target price on Zimmer Biomet from $113.00 to $117.00 and gave the company an “underweight” rating in a research note on Monday, April 15th. Finally, Credit Suisse Group set a $82.00 target price on InterXion and gave the company a “buy” rating in a research note on Thursday. Four equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $201.41.
Shares of Stryker stock opened at $206.40 on Friday. The company has a current ratio of 2.12, a quick ratio of 1.30 and a debt-to-equity ratio of 0.68. The business has a 50-day simple moving average of $197.39. Stryker has a 52 week low of $144.75 and a 52 week high of $210.85. The company has a market capitalization of $78.67 billion, a PE ratio of 28.24, a PEG ratio of 2.55 and a beta of 0.87.
Institutional investors have recently added to or reduced their stakes in the business. Fishman Jay A Ltd. MI boosted its holdings in Stryker by 0.3% in the fourth quarter. Fishman Jay A Ltd. MI now owns 65,380 shares of the medical technology company’s stock valued at $10,248,000 after acquiring an additional 210 shares during the last quarter. Van ECK Associates Corp increased its holdings in Stryker by 2.9% in the 4th quarter. Van ECK Associates Corp now owns 4,109 shares of the medical technology company’s stock worth $644,000 after purchasing an additional 117 shares in the last quarter. Bessemer Group Inc. increased its holdings in Stryker by 33.6% in the 4th quarter. Bessemer Group Inc. now owns 4,663 shares of the medical technology company’s stock worth $730,000 after purchasing an additional 1,174 shares in the last quarter. Fort L.P. increased its holdings in Stryker by 713.2% in the 4th quarter. Fort L.P. now owns 5,001 shares of the medical technology company’s stock worth $784,000 after purchasing an additional 4,386 shares in the last quarter. Finally, Captrust Financial Advisors increased its holdings in Stryker by 5.3% in the 4th quarter. Captrust Financial Advisors now owns 1,969 shares of the medical technology company’s stock worth $310,000 after purchasing an additional 99 shares in the last quarter. Hedge funds and other institutional investors own 73.58% of the company’s stock.
In other Stryker news, CFO Glenn S. Boehnlein sold 2,700 shares of the stock in a transaction on Wednesday, May 8th. The stock was sold at an average price of $188.21, for a total transaction of $508,167.00. Following the completion of the transaction, the chief financial officer now directly owns 23,333 shares in the company, valued at $4,391,503.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Timothy J. Scannell sold 4,666 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $186.71, for a total value of $871,188.86. The disclosure for this sale can be found here. Insiders sold 21,377 shares of company stock valued at $4,081,972 over the last 90 days. 7.20% of the stock is currently owned by corporate insiders.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 31st. Investors of record on Friday, June 28th will be paid a $0.52 dividend. The ex-dividend date is Thursday, June 27th. This represents a $2.08 dividend on an annualized basis and a dividend yield of 1.01%. Stryker’s payout ratio is 28.45%.
Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.
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