Zacks: Brokerages Expect Stryker Co. (NYSE:SYK) Will Post Earnings of $2.46 Per Share

Equities analysts predict that Stryker Co. (NYSE:SYK) will post earnings of $2.46 per share for the current quarter, Zacks reports. Ten analysts have issued estimates for Stryker’s earnings, with the lowest EPS estimate coming in at $2.44 and the highest estimate coming in at $2.47. Stryker reported earnings of $2.18 per share during the same quarter last year, which indicates a positive year over year growth rate of 12.8%. The firm is scheduled to issue its next earnings report on Tuesday, February 4th.

According to Zacks, analysts expect that Stryker will report full year earnings of $8.23 per share for the current year, with EPS estimates ranging from $8.21 to $8.25. For the next year, analysts anticipate that the company will post earnings of $9.03 per share, with EPS estimates ranging from $8.95 to $9.09. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that that provide coverage for Stryker.

Stryker (NYSE:SYK) last announced its quarterly earnings results on Tuesday, October 29th. The medical technology company reported $1.91 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.90 by $0.01. The business had revenue of $3.59 billion for the quarter, compared to analyst estimates of $3.58 billion. Stryker had a return on equity of 25.33% and a net margin of 23.55%. The company’s quarterly revenue was up 10.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.69 EPS.

Several research analysts have weighed in on the stock. ValuEngine lowered shares of Stryker from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Bank of America boosted their price target on shares of Stryker from $220.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. BTIG Research set a $228.00 price objective on shares of Stryker and gave the stock a “buy” rating in a report on Thursday, September 5th. Robert W. Baird increased their price objective on shares of Stryker from $239.00 to $242.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Barclays downgraded shares of Stryker from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $226.00 to $207.00 in a report on Tuesday, November 5th. Five research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Stryker presently has a consensus rating of “Buy” and a consensus target price of $218.19.

Shares of SYK opened at $203.99 on Friday. The company’s 50-day moving average price is $206.99 and its 200 day moving average price is $207.90. Stryker has a 12-month low of $144.75 and a 12-month high of $223.45. The company has a current ratio of 2.18, a quick ratio of 1.35 and a debt-to-equity ratio of 0.64. The firm has a market cap of $76.31 billion, a P/E ratio of 27.91, a price-to-earnings-growth ratio of 2.51 and a beta of 0.76.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a dividend of $0.575 per share. This is an increase from Stryker’s previous quarterly dividend of $0.52. This represents a $2.30 annualized dividend and a yield of 1.13%. The ex-dividend date is Monday, December 30th. Stryker’s dividend payout ratio is presently 28.45%.

In other Stryker news, COO Timothy J. Scannell sold 4,666 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $206.28, for a total transaction of $962,502.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kevin Lobo sold 19,286 shares of the stock in a transaction dated Thursday, October 31st. The shares were sold at an average price of $215.71, for a total value of $4,160,183.06. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,174 shares of company stock worth $14,606,285. 7.20% of the stock is owned by company insiders.

Institutional investors have recently made changes to their positions in the company. Nuveen Asset Management LLC raised its holdings in shares of Stryker by 20,218.6% in the 2nd quarter. Nuveen Asset Management LLC now owns 2,596,110 shares of the medical technology company’s stock valued at $533,708,000 after purchasing an additional 2,583,333 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Stryker by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 26,735,288 shares of the medical technology company’s stock valued at $5,496,241,000 after buying an additional 555,327 shares during the last quarter. Stonehage Fleming Financial Services Holdings Ltd purchased a new position in shares of Stryker during the second quarter worth about $60,571,000. State Street Corp grew its stake in Stryker by 1.7% during the 3rd quarter. State Street Corp now owns 13,462,431 shares of the medical technology company’s stock worth $2,918,870,000 after buying an additional 229,189 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its holdings in shares of Stryker by 490.9% in the 3rd quarter. State of New Jersey Common Pension Fund D now owns 265,900 shares of the medical technology company’s stock valued at $57,514,000 after acquiring an additional 220,900 shares during the period. 73.22% of the stock is owned by institutional investors and hedge funds.

Stryker Company Profile

Stryker Corporation operates as a medical technology company. The company operates through three segments: Orthopaedics, MedSurg, and Neurotechnology and Spine. The Orthopaedics segment provides implants for use in hip and knee joint replacements, and trauma and extremities surgeries. The MedSurg segment offers surgical equipment and surgical navigation systems, endoscopic and communications systems, patient handling, emergency medical equipment and intensive care disposable products, reprocessed and remanufactured medical devices, and other medical devices for use in various medical specialties.

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Earnings History and Estimates for Stryker (NYSE:SYK)

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