“On 1/9/18, SYK preannounced 4Q17 revenue that was above consensus. Management refrained from providing 2018 guidance, however, and plans to provide this on its 4Q17 call on Tuesday, 1/30/18. Although there was no guidance, management did indicate that tax reform would create a modest headwind” to its earnings in 2018. SYK placed 35 Mako systems in 4Q17, which was up modestly from 33 in 3Q17 and 32 in 4Q16; SYK noted that Mako helped to drive 10.5% US knee growth in 4Q17. Clearly 4Q17 was another strong quarter for SYK but we maintain our Hold rating given its valuation (2018E P/E of 22.5x, which is approximately in line with its large-cap peers’ median of 22.9x).”,” the firm’s analyst wrote.
A number of other analysts also recently issued reports on the company. JPMorgan Chase & Co. upgraded Stryker from a neutral rating to an overweight rating in a research report on Tuesday, January 2nd. Robert W. Baird upgraded Stryker from a neutral rating to an outperform rating and boosted their target price for the stock from $161.00 to $173.00 in a research report on Thursday, November 16th. BMO Capital Markets upgraded Stryker to a market perform rating and set a $163.00 target price for the company in a research report on Tuesday, December 12th. Zacks Investment Research downgraded Stryker from a hold rating to a sell rating in a research report on Monday, October 16th. Finally, SunTrust Banks restated a buy rating and issued a $161.00 target price on shares of Stryker in a research report on Friday, November 17th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have issued a buy rating to the stock. Stryker has a consensus rating of Hold and a consensus price target of $156.60.
Stryker (NYSE:SYK) last issued its quarterly earnings results on Thursday, October 26th. The medical technology company reported $1.52 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.50 by $0.02. The firm had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.97 billion. Stryker had a return on equity of 24.11% and a net margin of 14.67%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same quarter last year, the company posted $1.39 EPS. equities research analysts expect that Stryker will post 6.49 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 31st. Shareholders of record on Friday, December 29th will be paid a $0.47 dividend. This is a boost from Stryker’s previous quarterly dividend of $0.43. This represents a $1.88 dividend on an annualized basis and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, December 28th. Stryker’s payout ratio is 40.09%.
In other Stryker news, insider Lonny J. Carpenter sold 5,000 shares of Stryker stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $155.34, for a total value of $776,700.00. Following the transaction, the insider now directly owns 83,207 shares of the company’s stock, valued at approximately $12,925,375.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.40% of the stock is owned by insiders.
Institutional investors have recently made changes to their positions in the business. Acrospire Investment Management LLC purchased a new position in Stryker in the 2nd quarter worth approximately $111,000. Motco increased its stake in Stryker by 50.7% in the 2nd quarter. Motco now owns 826 shares of the medical technology company’s stock worth $115,000 after purchasing an additional 278 shares during the period. Sawyer & Company Inc purchased a new position in shares of Stryker during the fourth quarter valued at approximately $125,000. Sit Investment Associates Inc. increased its stake in shares of Stryker by 114.3% during the fourth quarter. Sit Investment Associates Inc. now owns 825 shares of the medical technology company’s stock valued at $128,000 after buying an additional 440 shares during the period. Finally, San Francisco Sentry Investment Group CA increased its stake in shares of Stryker by 47.8% during the third quarter. San Francisco Sentry Investment Group CA now owns 1,005 shares of the medical technology company’s stock valued at $143,000 after buying an additional 325 shares during the period. 74.88% of the stock is currently owned by institutional investors and hedge funds.
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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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