Stryker Corporation (NYSE:SYK) – Equities researchers at Oppenheimer Holdings dropped their FY2017 earnings per share (EPS) estimates for Stryker Corporation in a research report issued to clients and investors on Wednesday. Oppenheimer Holdings analyst S. Lichtman now anticipates that the brokerage will post earnings of $6.42 per share for the year, down from their prior forecast of $6.46. Oppenheimer Holdings currently has a “Hold” rating and a $122.00 target price on the stock.
Stryker Corporation (NYSE:SYK) last posted its quarterly earnings data on Tuesday, January 24th. The medical technology company reported $1.78 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.76 by $0.02. The firm earned $3.20 billion during the quarter, compared to the consensus estimate of $3.15 billion. Stryker Corporation had a net margin of 14.54% and a return on equity of 23.86%. The business’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.56 EPS.
A number of other research firms have also weighed in on SYK. Canaccord Genuity raised their price target on shares of Stryker Corporation from $127.00 to $137.00 and gave the company a “buy” rating in a research report on Monday. Needham & Company LLC reissued a “sell” rating on shares of Stryker Corporation in a research report on Wednesday. Barclays PLC raised their price objective on shares of Stryker Corporation from $120.00 to $122.00 and gave the stock an “underweight” rating in a report on Wednesday. Jefferies Group LLC raised their price objective on shares of Stryker Corporation from $120.00 to $132.00 and gave the stock a “hold” rating in a report on Wednesday. Finally, Guggenheim set a $137.00 price objective on shares of Stryker Corporation and gave the stock a “buy” rating in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $124.77.
Shares of Stryker Corporation (NYSE:SYK) traded up 2.22% during mid-day trading on Friday, hitting $123.51. 802,182 shares of the stock were exchanged. The stock’s 50-day moving average is $120.06 and its 200-day moving average is $116.25. The stock has a market capitalization of $46.25 billion, a price-to-earnings ratio of 28.39 and a beta of 0.84. Stryker Corporation has a 52 week low of $94.31 and a 52 week high of $127.23.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 31st. Stockholders of record on Friday, December 30th will be issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.41%. This is a positive change from Stryker Corporation’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend is Wednesday, December 28th. Stryker Corporation’s payout ratio is presently 39.08%.
In other news, Chairman Kevin Lobo sold 26,306 shares of the business’s stock in a transaction that occurred on Thursday, November 3rd. The shares were sold at an average price of $115.74, for a total value of $3,044,656.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Ronda E. Stryker sold 5,194 shares of the business’s stock in a transaction that occurred on Wednesday, December 28th. The stock was sold at an average price of $120.60, for a total transaction of $626,396.40. Following the completion of the sale, the director now owns 193,142 shares of the company’s stock, valued at $23,292,925.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 295,160 shares of company stock valued at $34,016,758. Company insiders own 7.80% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Mycio Wealth Partners LLC purchased a new position in shares of Stryker Corporation during the third quarter valued at approximately $116,000. Salem Investment Counselors Inc. purchased a new position in shares of Stryker Corporation during the third quarter valued at approximately $116,000. TLP Group LLC purchased a new position in shares of Stryker Corporation during the third quarter valued at approximately $127,000. Penserra Capital Management LLC increased its position in shares of Stryker Corporation by 100.0% in the third quarter. Penserra Capital Management LLC now owns 1,188 shares of the medical technology company’s stock valued at $138,000 after buying an additional 594 shares during the last quarter. Finally, Mosaic Family Wealth LLC increased its position in shares of Stryker Corporation by 10.4% in the third quarter. Mosaic Family Wealth LLC now owns 1,256 shares of the medical technology company’s stock valued at $146,000 after buying an additional 118 shares during the last quarter. 75.82% of the stock is currently owned by institutional investors.
Stryker Corporation Company Profile
Stryker Corporation (Stryker) is a medical technology company. The Company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Company’s Orthopaedics segment products consist of implants used in hip and knee joint replacements and trauma and surgeries. The Company’s MedSurg segment products consist of surgical equipment and surgical navigation systems (Instruments); endoscopic and communications systems (Endoscopy); patient handling and emergency medical equipment (Medical), and reprocessed and remanufactured medical devices (Sustainability), as well as other medical device products used in a range of medical specialties.