Stryker (SYK) Updates FY17 Earnings Guidance

Stryker (NYSE:SYK) issued an update on its FY17 earnings guidance on Tuesday morning. The company provided earnings per share guidance of $6.45-6.50 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $6.48. The company issued revenue guidance of $12.4 billion, compared to the consensus revenue estimate of $12.37 billion.

Shares of Stryker (NYSE SYK) traded up $2.20 on Tuesday, reaching $163.26. 1,240,200 shares of the company traded hands, compared to its average volume of 1,104,940. The company has a quick ratio of 1.61, a current ratio of 2.37 and a debt-to-equity ratio of 0.63. The company has a market cap of $60,100.00, a P/E ratio of 34.81, a PEG ratio of 2.30 and a beta of 0.78. Stryker has a 12-month low of $117.64 and a 12-month high of $163.74.

Stryker (NYSE:SYK) last posted its quarterly earnings results on Thursday, October 26th. The medical technology company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.02. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.97 billion. Stryker had a net margin of 14.67% and a return on equity of 24.11%. The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period last year, the business posted $1.39 EPS. equities research analysts forecast that Stryker will post 6.47 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 31st. Stockholders of record on Friday, December 29th will be given a dividend of $0.47 per share. This is a positive change from Stryker’s previous quarterly dividend of $0.43. This represents a $1.88 annualized dividend and a dividend yield of 1.15%. The ex-dividend date is Thursday, December 28th. Stryker’s payout ratio is 40.09%.

Several analysts have recently weighed in on SYK shares. Wells Fargo & Co lifted their target price on shares of Stryker from $160.00 to $166.00 in a research report on Friday, October 27th. Canaccord Genuity lifted their target price on shares of Stryker from $155.00 to $162.00 and gave the company a buy rating in a research report on Friday, October 27th. Stifel Nicolaus lifted their target price on shares of Stryker from $158.00 to $168.00 and gave the company a buy rating in a research report on Friday, October 27th. Cowen set a $160.00 target price on shares of Stryker and gave the company a buy rating in a research report on Friday, October 6th. Finally, Royal Bank of Canada reiterated a buy rating and set a $155.00 target price on shares of Stryker in a research report on Monday, October 2nd. 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. The stock has an average rating of Hold and an average price target of $155.10.

In other Stryker news, insider Lonny J. Carpenter sold 5,000 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $155.34, for a total value of $776,700.00. Following the completion of 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 legal filing with the SEC, which is available at this hyperlink. Insiders own 7.40% of the company’s stock.

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About Stryker

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 (NYSE:SYK)

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