Gabelli Comments on Stryker Corporation’s FY2018 Earnings (SYK)

Stryker Corporation (NYSE:SYK) – Equities researchers at Gabelli decreased their FY2018 earnings per share estimates for shares of Stryker Corporation in a report released on Monday. Gabelli analyst J. Tsai now expects that the medical technology company will earn $7.10 per share for the year, down from their previous forecast of $7.15. Gabelli also issued estimates for Stryker Corporation’s FY2019 earnings at $7.80 EPS and FY2021 earnings at $9.50 EPS.

Stryker Corporation (NYSE:SYK) last posted its quarterly earnings results on Thursday, October 26th. The medical technology company reported $1.52 EPS for the quarter, beating 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 company had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.97 billion. During the same period in the prior year, the business posted $1.39 EPS. The firm’s revenue was up 6.1% compared to the same quarter last year.

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SYK has been the subject of several other reports. Piper Jaffray Companies reaffirmed an “overweight” rating and set a $148.00 price objective 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 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 lowered shares of Stryker Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, August 26th. Two research 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. Stryker Corporation presently has an average rating of “Hold” and a consensus price target of $151.52.

In other news, insider Lonny J. Carpenter sold 5,000 shares of the business’s stock in a transaction on Friday, August 4th. The stock was sold at an average price of $146.36, for a total value of $731,800.00. Following the completion of the transaction, the insider now directly owns 88,207 shares of the company’s stock, valued at $12,909,976.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Graham A. Mclean sold 1,124 shares of the business’s stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $146.26, for a total value of $164,396.24. Following the completion of the transaction, the insider now directly 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.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Stryker Corporation by 2.8% in the second quarter. Vanguard Group Inc. now owns 24,078,709 shares of the medical technology company’s stock worth $3,341,643,000 after acquiring an additional 657,656 shares during the last quarter. BlackRock Inc. increased its stake in Stryker Corporation by 5.2% in the second quarter. BlackRock Inc. now owns 23,115,853 shares of the medical technology company’s stock valued at $3,208,017,000 after purchasing an additional 1,139,082 shares during the last quarter. Wellington Management Group LLP increased its stake in Stryker Corporation by 0.5% in the first quarter. Wellington Management Group LLP now owns 4,569,118 shares of the medical technology company’s stock valued at $601,525,000 after purchasing an additional 24,139 shares during the last quarter. Geode Capital Management LLC increased its stake in Stryker Corporation by 6.3% in the first quarter. Geode Capital Management LLC now owns 2,786,406 shares of the medical technology company’s stock valued at $366,255,000 after purchasing an additional 166,133 shares during the last quarter. Finally, Jensen Investment Management Inc. increased its stake in Stryker Corporation by 11.3% in the third quarter. Jensen Investment Management Inc. now owns 2,472,476 shares of the medical technology company’s stock valued at $351,141,000 after purchasing an additional 251,685 shares during the last quarter. 74.00% of the stock is owned by institutional investors.

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.

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

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