Brokerages Expect Stryker Corporation (NYSE:SYK) Will Post Earnings of $1.53 Per Share

Wall Street analysts expect that Stryker Corporation (NYSE:SYK) will report earnings of $1.53 per share for the current fiscal quarter, according to Zacks Investment Research. Ten analysts have made estimates for Stryker Corporation’s earnings, with the highest EPS estimate coming in at $1.58 and the lowest estimate coming in at $1.52. Stryker Corporation reported earnings of $1.39 per share in the same quarter last year, which suggests a positive year over year growth rate of 10.1%. The company is expected to announce its next quarterly earnings report on Thursday, October 26th.

On average, analysts expect that Stryker Corporation will report full year earnings of $6.50 per share for the current year, with EPS estimates ranging from $6.45 to $6.54. For the next fiscal year, analysts expect that the business will report earnings of $7.13 per share, with EPS estimates ranging from $7.01 to $7.21. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research firms that that provide coverage for Stryker Corporation.

Stryker Corporation (NYSE:SYK) last issued its earnings results on Thursday, July 27th. The medical technology company reported $1.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.51 by $0.02. The firm had revenue of $3.01 billion for the quarter, compared to analysts’ expectations of $2.98 billion. Stryker Corporation had a net margin of 14.22% and a return on equity of 24.26%. The firm’s revenue was up 6.1% compared to the same quarter last year. During the same quarter last year, the company earned $1.39 earnings per share.

Several research firms recently commented on SYK. Cowen and Company reissued a “buy” rating and set a $160.00 price target (up from $150.00) on shares of Stryker Corporation in a research report on Sunday, July 30th. BidaskClub lowered Stryker Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 31st. Zacks Investment Research raised Stryker Corporation from a “hold” rating to a “buy” rating and set a $166.00 price target on the stock in a research report on Tuesday, August 1st. Royal Bank Of Canada boosted their price target on Stryker Corporation from $140.00 to $155.00 and gave the stock an “outperform” rating in a research report on Friday, July 28th. Finally, Oppenheimer Holdings, Inc. set a $148.00 price target on Stryker Corporation and gave the stock a “hold” rating in a research report on Friday, July 28th. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and twelve have given a buy rating to the company. Stryker Corporation currently has a consensus rating of “Hold” and a consensus price target of $144.03.

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In related news, insider Lonny J. Carpenter sold 5,000 shares of the company’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $146.36, for a total transaction of $731,800.00. Following the completion of the transaction, the insider now directly owns 88,207 shares in the company, valued at approximately $12,909,976.52. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider David Floyd sold 19,305 shares of the company’s stock in a transaction on Wednesday, July 12th. The stock was sold at an average price of $144.56, for a total value of $2,790,730.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,686 shares of company stock worth $4,590,562. Corporate insiders own 7.40% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the company. BlackRock Inc. increased its position in shares of Stryker Corporation by 2,526.4% in the first quarter. BlackRock Inc. now owns 21,976,771 shares of the medical technology company’s stock worth $2,893,242,000 after buying an additional 21,140,000 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Stryker Corporation by 5.2% in the first quarter. Vanguard Group Inc. now owns 23,421,053 shares of the medical technology company’s stock worth $3,083,382,000 after buying an additional 1,161,688 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of Stryker Corporation by 41.9% in the first quarter. PNC Financial Services Group Inc. now owns 1,403,420 shares of the medical technology company’s stock worth $184,759,000 after buying an additional 414,715 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Stryker Corporation by 600.6% in the first quarter. SG Americas Securities LLC now owns 412,340 shares of the medical technology company’s stock worth $54,285,000 after buying an additional 353,486 shares during the last quarter. Finally, Morgan Stanley increased its position in shares of Stryker Corporation by 17.9% in the first quarter. Morgan Stanley now owns 2,144,472 shares of the medical technology company’s stock worth $282,320,000 after buying an additional 325,661 shares during the last quarter. Hedge funds and other institutional investors own 73.99% of the company’s stock.

Shares of Stryker Corporation (NYSE:SYK) opened at 146.18 on Friday. The firm has a market cap of $54.68 billion, a PE ratio of 32.63 and a beta of 0.80. The company has a 50-day moving average of $142.76 and a 200 day moving average of $134.44. Stryker Corporation has a one year low of $106.48 and a one year high of $148.84.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Investors of record on Friday, September 29th will be given a dividend of $0.425 per share. This represents a $1.70 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Thursday, September 28th. Stryker Corporation’s dividend payout ratio is currently 37.95%.

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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Earnings History and Estimates for Stryker Corporation (NYSE:SYK)

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