Stryker Corporation (NYSE:SYK) – Research analysts at Gabelli cut their FY2017 earnings estimates for shares of Stryker Corporation in a note issued to investors on Monday. Gabelli analyst J. Tsai now forecasts that the medical technology company will post earnings of $6.45 per share for the year, down from their prior estimate of $6.50. Gabelli also issued estimates for Stryker Corporation’s FY2020 earnings at $8.60 EPS.
SYK has been the subject of several other research reports. Piper Jaffray Companies reiterated an “overweight” rating and issued a $148.00 target price on shares of Stryker Corporation in a research note on Thursday, August 24th. Needham & Company LLC raised shares of Stryker Corporation from an “underperform” rating to a “hold” rating in a research note on Friday, August 25th. Morgan Stanley reaffirmed an “overweight” rating and set a $160.00 price objective (up previously from $155.00) on shares of Stryker Corporation in a research note on Monday, July 10th. Zacks Investment Research raised shares of Stryker Corporation from a “hold” rating to a “buy” rating and set a $163.00 price objective for the company in a research note on Monday, July 17th. Finally, BidaskClub cut shares of Stryker Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, August 26th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and twelve have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $151.52.
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Shares of Stryker Corporation (SYK) opened at 154.87 on Wednesday. The company has a market cap of $57.93 billion, a P/E ratio of 34.57 and a beta of 0.80. Stryker Corporation has a one year low of $106.48 and a one year high of $160.62. The stock’s 50 day moving average is $146.25 and its 200-day moving average is $142.26.
Stryker Corporation (NYSE:SYK) last announced its earnings results on Thursday, October 26th. The medical technology company reported $1.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.50 by $0.02. Stryker Corporation had a net margin of 14.67% and a return on equity of 24.11%. The firm had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same quarter in the prior year, the business posted $1.39 EPS. The business’s revenue was up 6.1% compared to the same quarter last year.
Institutional investors and hedge funds have recently made changes to their positions in the company. Acrospire Investment Management LLC bought a new stake in shares of Stryker Corporation in the 2nd quarter worth approximately $111,000. Motco lifted its holdings in shares of Stryker Corporation by 50.7% in the 2nd quarter. Motco now owns 826 shares of the medical technology company’s stock worth $115,000 after acquiring an additional 278 shares during the last quarter. Bollard Group LLC lifted its holdings in shares of Stryker Corporation by 0.4% in the 2nd quarter. Bollard Group LLC now owns 832 shares of the medical technology company’s stock worth $115,000 after acquiring an additional 3 shares during the last quarter. Bruderman Asset Management LLC bought a new stake in shares of Stryker Corporation in the 2nd quarter worth approximately $150,000. Finally, James Investment Research Inc. bought a new stake in shares of Stryker Corporation in the 2nd quarter worth approximately $155,000. Hedge funds and other institutional investors own 74.00% of the company’s stock.
In other news, insider Lonny J. Carpenter sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $146.36, for a total value of $731,800.00. Following the completion of the sale, 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 at this hyperlink. Also, insider Graham A. Mclean sold 1,124 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $146.26, for a total transaction of $164,396.24. Following the completion of the sale, the insider now owns 8,983 shares of the company’s stock, valued at $1,313,853.58. The disclosure for this sale can be found here. Insiders own 7.40% of the company’s stock.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th were issued a $0.425 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.10%. Stryker Corporation’s payout ratio is 36.32%.
Stryker Corporation 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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