Stryker Corporation (NYSE:SYK) - Stock analysts at Leerink Swann cut their Q3 2017 earnings per share estimates for Stryker Corporation in a report released on Wednesday. Leerink Swann analyst R. Newitter now forecasts that the medical technology company will earn $1.50 per share for the quarter, down from their previous estimate of $1.52. Leerink Swann also issued estimates for Stryker Corporation’s Q4 2017 earnings at $1.96 EPS and FY2017 earnings at $6.46 EPS.
Stryker Corporation (NYSE:SYK) last issued its quarterly earnings results on Thursday, July 27th. The medical technology company reported $1.53 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.02. Stryker Corporation had a return on equity of 24.26% and a net margin of 14.22%. The firm had revenue of $3.01 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same period in the previous year, the business earned $1.39 earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. WARNING: This report was first published by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this report on another site, it was illegally stolen and reposted in violation of United States & international copyright & trademark laws. The legal version of this report can be viewed at https://stocknewstimes.com/2017/08/25/q3-2017-earnings-estimate-for-stryker-corporation-issued-by-leerink-swann-syk.html.
SYK has been the topic of a number of other reports. Morgan Stanley reaffirmed an “overweight” rating and issued a $160.00 price target (up from $155.00) on shares of Stryker Corporation in a research note on Monday, July 10th. Cantor Fitzgerald started coverage on shares of Stryker Corporation in a research note on Thursday, June 29th. They issued a “neutral” rating and a $153.00 price target on the stock. Zacks Investment Research raised shares of Stryker Corporation from a “hold” rating to a “buy” rating and set a $163.00 price target on the stock in a research note on Monday, July 17th. Citigroup Inc. upped their price target on shares of Stryker Corporation from $114.00 to $125.00 and gave the stock a “sell” rating in a research note on Friday, June 9th. Finally, Stifel Nicolaus upped their price target on shares of Stryker Corporation from $151.00 to $158.00 and gave the stock a “buy” rating in a research note on Friday, July 28th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $144.97.
Shares of Stryker Corporation (NYSE:SYK) opened at 138.77 on Friday. Stryker Corporation has a 12 month low of $106.48 and a 12 month high of $148.84. The company’s 50 day moving average price is $144.79 and its 200 day moving average price is $136.91. The stock has a market capitalization of $51.91 billion, a PE ratio of 30.98 and a beta of 0.80.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SYK. Acrospire Investment Management LLC purchased a new position in Stryker Corporation during the second quarter valued at $111,000. Motco raised its position in Stryker Corporation by 50.7% in the second quarter. Motco now owns 826 shares of the medical technology company’s stock valued at $115,000 after buying an additional 278 shares in the last quarter. Bollard Group LLC raised its position in Stryker Corporation by 0.4% in the first quarter. Bollard Group LLC now owns 829 shares of the medical technology company’s stock valued at $109,000 after buying an additional 3 shares in the last quarter. Baystate Wealth Management LLC raised its position in Stryker Corporation by 2.1% in the first quarter. Baystate Wealth Management LLC now owns 1,066 shares of the medical technology company’s stock valued at $139,000 after buying an additional 22 shares in the last quarter. Finally, Bruderman Asset Management LLC purchased a new position in Stryker Corporation during the second quarter valued at $150,000. Institutional investors own 73.79% of the company’s stock.
In other news, insider Graham A. Mclean sold 1,124 shares of the business’s stock in a transaction dated Tuesday, August 8th. The shares were sold at an average price of $146.26, for a total transaction of $164,396.24. Following the transaction, the insider now directly owns 8,983 shares in the company, valued at approximately $1,313,853.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Floyd sold 19,305 shares of the business’s stock in a transaction dated Wednesday, July 12th. The stock was sold at an average price of $144.56, for a total transaction of $2,790,730.80. The disclosure for this sale can be found here. Insiders sold a total of 32,810 shares of company stock worth $4,754,958 over the last ninety days. 7.40% of the stock is currently owned by insiders.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 31st. Stockholders of record on Friday, September 29th will be given a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.23%. Stryker Corporation’s dividend payout ratio is 37.95%.
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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