Stryker Co. (NYSE:SYK) – Investment analysts at SunTrust Banks upped their FY2017 earnings per share (EPS) estimates for Stryker in a report issued on Wednesday. SunTrust Banks analyst B. Nudell now anticipates that the medical technology company will earn $6.45 per share for the year, up from their prior forecast of $6.43. SunTrust Banks also issued estimates for Stryker’s FY2018 earnings at $7.05 EPS.
Stryker (NYSE:SYK) last posted its quarterly earnings results on Tuesday, April 25th. The medical technology company reported $1.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.43 by $0.05. The business had revenue of $2.96 billion for the quarter, compared to analyst estimates of $2.90 billion. Stryker had a net margin of 14.54% and a return on equity of 23.86%. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter last year, the business posted $1.24 EPS. COPYRIGHT VIOLATION WARNING: This piece was first posted by Markets Daily and is the sole property of of Markets Daily. If you are reading this piece on another website, it was stolen and reposted in violation of United States & international trademark and copyright law. The legal version of this piece can be accessed at https://www.themarketsdaily.com/2017/05/10/suntrust-banks-comments-on-stryker-co-s-fy2017-earnings-syk.html.
A number of other analysts have also weighed in on SYK. Barclays PLC reaffirmed a “sell” rating and set a $133.00 target price on shares of Stryker in a report on Thursday, April 27th. Oppenheimer Holdings Inc. set a $135.00 price target on shares of Stryker and gave the stock a “hold” rating in a research note on Saturday, April 8th. Royal Bank of Canada reissued an “outperform” rating and issued a $140.00 price target (up previously from $135.00) on shares of Stryker in a research note on Wednesday, April 26th. Cowen and Company set a $150.00 price target on shares of Stryker and gave the stock an “outperform” rating in a research note on Wednesday, April 26th. Finally, Needham & Company LLC reissued a “sell” rating on shares of Stryker in a research note on Wednesday, April 26th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company’s stock. Stryker has a consensus rating of “Hold” and an average target price of $135.15.
Stryker (NYSE:SYK) traded down 0.67% during mid-day trading on Monday, hitting $133.96. 297,551 shares of the company traded hands. The firm has a 50 day moving average of $132.88 and a 200 day moving average of $123.50. The firm has a market capitalization of $50.07 billion, a P/E ratio of 30.10 and a beta of 0.80. Stryker has a one year low of $106.48 and a one year high of $136.79.
A number of large investors have recently bought and sold shares of SYK. Norges Bank purchased a new stake in Stryker during the fourth quarter worth approximately $292,752,000. Price T Rowe Associates Inc. MD raised its stake in Stryker by 6.2% in the third quarter. Price T Rowe Associates Inc. MD now owns 17,503,094 shares of the medical technology company’s stock worth $2,037,535,000 after buying an additional 1,022,233 shares in the last quarter. The Manufacturers Life Insurance Company purchased a new stake in Stryker during the third quarter worth approximately $85,505,000. Russell Investments Group Ltd. purchased a new stake in Stryker during the fourth quarter worth approximately $77,087,000. Finally, Capital Research Global Investors raised its stake in Stryker by 1.7% in the third quarter. Capital Research Global Investors now owns 33,537,131 shares of the medical technology company’s stock worth $3,904,057,000 after buying an additional 556,349 shares in the last quarter. Institutional investors own 75.29% of the company’s stock.
In other news, VP Yin C. Becker sold 4,398 shares of the company’s stock in a transaction on Wednesday, February 15th. The shares were sold at an average price of $125.27, for a total value of $550,937.46. Following the completion of the sale, the vice president now owns 12,541 shares of the company’s stock, valued at approximately $1,571,011.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Timothy J. Scannell sold 13,322 shares of the company’s stock in a transaction on Tuesday, May 2nd. The shares were sold at an average price of $135.89, for a total transaction of $1,810,326.58. The disclosure for this sale can be found here. 7.80% of the stock is currently owned by corporate insiders.
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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